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Author Topic: Bitcoin's Fate In 2140  (Read 3155 times)
Sir_lagsalot
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November 11, 2015, 03:57:11 AM
 #1

So, everyone knows that there will be no more block rewards when we reach ~2140. But what do you guys think will happen after?

I personally visualise 2 possibilities:

- Bitcoin is already widely adopted, so the giant community will keep the system running and functioning. Maybe not as easily as today, but with a big enough community, the transaction fees will be high enough for miners to keep on doing their thing.

-Bitcoin has a small community, much like today, and starts to crumble without support of miners, and mining fees will become huge, and so the users will leave. Bitcoins will be left in the transaction pool, and the Bitcoin ecosystem will come to a halt.


Are there any possibilities I might have missed? What do you guys think?


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November 11, 2015, 04:08:36 AM
 #2

Bitcoin will have big, but i mean BIG adoption till that time and miners will be happy to mine for fees reward. Till that time USD, EUR and rest of fiat will be only numismatic assets.
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November 11, 2015, 04:15:29 AM
 #3

Bitcoin will have big, but i mean BIG adoption till that time and miners will be happy to mine for fees reward. Till that time USD, EUR and rest of fiat will be only numismatic assets.
We all hope that there will be mass adoption. But many people still remember the Mt Gox incident. Bitcoin would be much better off if that hadn't happened. I asked my friends recently what they knew about bitcoin, and they claimed it was a scam. I asked them why, and they told me about some exchange that ran away with alot of BTC... oh well. Mt Gox has scarred the bitcoin community.
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November 11, 2015, 04:21:21 AM
 #4

Bitcoin will have big, but i mean BIG adoption till that time and miners will be happy to mine for fees reward. Till that time USD, EUR and rest of fiat will be only numismatic assets.
We all hope that there will be mass adoption. But many people still remember the Mt Gox incident. Bitcoin would be much better off if that hadn't happened. I asked my friends recently what they knew about bitcoin, and they claimed it was a scam. I asked them why, and they told me about some exchange that ran away with alot of BTC... oh well. Mt Gox has scarred the bitcoin community.


It is 2015 now mate and we are talking about 2140. I dont think Mt Gox incident will be relevant 125 years from now if we exclude history books and school.
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November 11, 2015, 04:32:39 AM
 #5

Here is what I think will happen

https://www.youtube.com/watch?v=JmzuRXLzqKk

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November 11, 2015, 04:37:38 AM
 #6

So, everyone knows that there will be no more block rewards when we reach ~2140. But what do you guys think will happen after?

I personally visualise 2 possibilities:

- Bitcoin is already widely adopted, so the giant community will keep the system running and functioning. Maybe not as easily as today, but with a big enough community, the transaction fees will be high enough for miners to keep on doing their thing.

-Bitcoin has a small community, much like today, and starts to crumble without support of miners, and mining fees will become huge, and so the users will leave. Bitcoins will be left in the transaction pool, and the Bitcoin ecosystem will come to a halt.


Are there any possibilities I might have missed? What do you guys think?

All or nothing.

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November 11, 2015, 04:43:33 AM
 #7

Your first option seems to be the path we will end up most likely although hope the fee's for transaction are not that high up to the point wherein it turn off people for using it (those who send smaller amounts on their transactions) so still some problems exist then but I'm sure developers will find a way to solve this matter if ever it happens

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November 11, 2015, 04:45:24 AM
 #8

Your second possibility dont make sense. If Bitcoin were to fall, it will fall before there is no block reward.

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November 11, 2015, 04:57:12 AM
 #9

Are there any possibilities I might have missed? What do you guys think?

Yeah, what about this one? This is neither.
https://www.youtube.com/watch?v=_Mg7qKstnPk

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November 11, 2015, 05:07:12 AM
 #10

Your second possibility dont make sense. If Bitcoin were to fall, it will fall before there is no block reward.

I believe this would be the cause of fail as well. When the reward drops, and if the price doesn't go up proportionally, there will be no incentive for people to mine.
But who knows, it's more probable that the tech of the mining equipment will be the one to save us in that scenario (very low power consumption). But i still believe it's only going to get bigger
in both hashrate and number of individual users and transactions.
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November 11, 2015, 05:20:19 AM
 #11

There are also some other factors to consider if taking bitcoin so far into the future.

How would increases in computing power impact mining or that really doesn't matter due to the fact that block times should self correct to one every ten minutes anyway?

Possibly more intriguing is the real possibility the nuclear fusion will be commercially available in 20-30 years. and in 50 years, residential applications will be commonplace. With such cheap electricity 21's chip or chips like it may truly supplant large mining operations, due to the sheer number of chips that can be deployed. Decentralization on the largest scale.
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November 11, 2015, 05:28:04 AM
 #12

We will see a huge surge in adoption for the next few years, and then one of the competing Alt coins with better features will be supported by some governments and it will replace Bitcoin. If Bitcoin cannot change and adapt to the users needs, it will be replaced with a Alt coin with those features.

Politics will drive the change as Crypto currencies gets mainstream and fiat collapse. ^hmf^

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November 11, 2015, 05:48:24 AM
 #13

So, everyone knows that there will be no more block rewards when we reach ~2140. But what do you guys think will happen after?

I personally visualise 2 possibilities:

- Bitcoin is already widely adopted, so the giant community will keep the system running and functioning. Maybe not as easily as today, but with a big enough community, the transaction fees will be high enough for miners to keep on doing their thing.

-Bitcoin has a small community, much like today, and starts to crumble without support of miners, and mining fees will become huge, and so the users will leave. Bitcoins will be left in the transaction pool, and the Bitcoin ecosystem will come to a halt.


Are there any possibilities I might have missed? What do you guys think?

By the year 2140, the mining process would have been ended and all the bitcoin would have been in use. So the probability of all conclusion of bitcoin would have occurred. From the past history so far we have seen with bitcoin, we can assume the success of bitcoin in 2140.

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November 11, 2015, 06:00:22 AM
 #14

We will see a huge surge in adoption for the next few years, and then one of the competing Alt coins with better features will be supported by some governments and it will replace Bitcoin. If Bitcoin cannot change and adapt to the users needs, it will be replaced with a Alt coin with those features.

Politics will drive the change as Crypto currencies gets mainstream and fiat collapse. ^hmf^
I think there will be a rich landscape of alt coins in future. Gold isn't the only precious metal in the world. Similarly, different alts and their respective blockchains may offer things that btc can't or won't be able too. People like choice... just look at all the different cars to choose from...but essentially they all do the same thing... get you from point a to point b. Crypto is kind of the same...ability to move value and a distributed ledgers.
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November 11, 2015, 06:10:00 AM
 #15

Your Estimation Target Date is too far , i don't think any of us will live till 2140 , may be the situation of bitcoin will be far away and different than prediction , May be name of bitcoin will change , may be the monetary system of this planet will change and we could transact just by thinking.
More over the price will be To the Pluto(much high than to the moon)

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November 11, 2015, 08:26:11 AM
 #16

So, everyone knows that there will be no more block rewards when we reach ~2140. But what do you guys think will happen after?

I personally visualise 2 possibilities:

- Bitcoin is already widely adopted, so the giant community will keep the system running and functioning. Maybe not as easily as today, but with a big enough community, the transaction fees will be high enough for miners to keep on doing their thing.

-Bitcoin has a small community, much like today, and starts to crumble without support of miners, and mining fees will become huge, and so the users will leave. Bitcoins will be left in the transaction pool, and the Bitcoin ecosystem will come to a halt.


Are there any possibilities I might have missed? What do you guys think?

All or nothing.

yeah and this is due to one thing, the halving, which force the price to stay at certain level otherwise miners will leave and bitcoin will die

so bitcoin can stay with a small community and with the current price in 2140, because this would mean its departure
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November 11, 2015, 08:37:16 AM
 #17

Useless question; you won't be around to know what happens anyways. Please stop opening up these 'let me spam with pointless answers' threads. They are all predictions based on nothing and as accurate as those of a fortune teller. There are enough of these threads so in the future use the search function.

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November 11, 2015, 08:57:37 AM
 #18

If bitcoin survives next 10 years, it will be very big. It will not be banned by most governments. It will evolve over the time, but not replaced.
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November 11, 2015, 09:00:15 AM
 #19

you worried about 125 years after well your generation after and after might and they will do digital coins even better tahn bitcoin soo no worries by that timea  molecular machine to turn logs into cakes will be done and no money needed soo dont worrie about 100 years after many things will happen including our death and bitcoin will prevail

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November 11, 2015, 10:40:21 AM
 #20

We don't need to wait until 2140, in 20 years or so block reward will be small enough to see if the network can survive with current proof of work system.

https://en.bitcoin.it/wiki/Controlled_supply

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