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Author Topic: Bitcoin's Fate In 2140  (Read 3354 times)
Sir_lagsalot (OP)
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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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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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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.

R


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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
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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
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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
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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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November 11, 2015, 08:01:41 PM
 #21

It would work out fine if it becomes adopted as a reserve currency or if some nations adopted it as their money.  In that case, it would be reasonable to assume that governments would set up some mining facilities, like the treasury mints money.  They would need to preserve the bitcoin landscape in order to have stable money.

I also think that there will be multiple cryptocurrencies.  Bitcoin will be the standard, but there will be alternatives for sure.  Litecoin will possibly still be one of them...  I hope...  I bought some of both.  I'm keeping my eye on Ethereum.  There's lots of active development there, but as I see it, why would we replace BTC with that junk?
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November 11, 2015, 08:43:33 PM
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Well my from point of view BTCitcoin getting so much adoption as it is pioneer crypto currency and you can make comparison as adoption and investment based charts, now it has more big community still growing as i think that is too early to make any prediction about 2140, i am sure before this it will go to mainstream. 
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November 11, 2015, 08:45:03 PM
 #23

Bitcoin will be the global currency and we will have so much bigger community and much bigger merchants with around the globe adoption.
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November 11, 2015, 09:08:01 PM
 #24

Bitcoin is valued at around $1million(most likely duble or even more than that at today's USD price). Fiat is long gone. Some altcoins are blooming and used alternatively to bitcoin. Children are tough economics from elementary school. History classes teach us how banks ruled the world just 100 years ago. Governments don't exist. People form local authorities themselves. There are no hard labor jobs, most jobs are involved in R&D and computer science. People don't have to go to work to earn a living(the same does not apply if you want to make a fortune). Most people have hardware wallets beneath their skin for convenient access.

All in all computers and robots rule us in some way. They make our lives 10x easier, but we're stuck serving this singularity.
It's all in a positive light. I bet we would have colonized mars fully by then and bitcoin would be interplanetary means of exchange.


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November 11, 2015, 09:34:34 PM
 #25

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

Exactly my thoughts! That's why Satoshi has said that in the near future we will either have many, many transactions or no transactions at all. Bitcoin need to become big much before 2140, like you have said in about 20 years tops.

Then again, if this thing doesn't start living with its full lungs even in 10 years, I don't think we would need miners much more after this.
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November 12, 2015, 09:50:47 PM
 #26

I also think that there will be multiple cryptocurrencies.  Bitcoin will be the standard, but there will be alternatives for sure.  Litecoin will possibly still be one of them...  I hope...  I bought some of both.  I'm keeping my eye on Ethereum.  There's lots of active development there, but as I see it, why would we replace BTC with that junk?
I used to think bitcoin is gold and litecoin is silver. So I bought some litecoin in the hope that the price ratio of bitcoin to litecoin to be 4:1. But the actual ratio of bitcoin to litecoin is 100:1.
Bitcoin is divisible. There is no need for litcoin like silver to gold. If litecoin does not offer new functions bitcoin does not have, it will not survive.
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November 12, 2015, 09:53:16 PM
 #27

Not sure but I'll be dead so I don't really give a shit.

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November 12, 2015, 11:37:27 PM
 #28

Bitcoin is valued at around $1million(most likely duble or even more than that at today's USD price). Fiat is long gone. Some altcoins are blooming and used alternatively to bitcoin. Children are tough economics from elementary school. History classes teach us how banks ruled the world just 100 years ago. Governments don't exist. People form local authorities themselves. There are no hard labor jobs, most jobs are involved in R&D and computer science. People don't have to go to work to earn a living(the same does not apply if you want to make a fortune). Most people have hardware wallets beneath their skin for convenient access.

All in all computers and robots rule us in some way. They make our lives 10x easier, but we're stuck serving this singularity.
It's all in a positive light. I bet we would have colonized mars fully by then and bitcoin would be interplanetary means of exchange.


If Bitcoin has taken over the world by 2140 1 million per coin will be nothing, we would be talking more. The debt alone of USA could make 1 million per coin right now... so do the basic calculations and you'll see how this is nothing in the big picture. I think we can reach 1 million in our lifetime.
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November 13, 2015, 03:28:11 AM
 #29

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)

Obviously none of us will be alive, so you mean that humans will be extinct by 2140?

If Bitcoin has taken over the world by 2140 1 million per coin will be nothing, we would be talking more. The debt alone of USA could make 1 million per coin right now... so do the basic calculations and you'll see how this is nothing in the big picture. I think we can reach 1 million in our lifetime.

Good thing bitcoin is counted to 8 digits to the right of the decimal...coffee, pizza, gas, milk will all cost Satoshis!

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November 13, 2015, 02:44:18 PM
 #30

I think fees will be so higher than today so they will not need more mining.
I don't think die situation to happen to first ever cryptocurrency.
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November 13, 2015, 03:23:57 PM
 #31

as i said you need two halving to force the price to increase or basically every miners will be out of the game, which mean bitcoin is dead

if the price remain in the range of 200-300 when the 2020 halving will kick in, no efficiency will save the miners, so in 5 years you will know about the fate of bitcoin
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November 13, 2015, 04:00:41 PM
 #32

I think I well be dead XD Sad Sad

Well I hope so than for other people Cheesy
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November 13, 2015, 06:03:52 PM
 #33

as i said you need two halving to force the price to increase or basically every miners will be out of the game, which mean bitcoin is dead

if the price remain in the range of 200-300 when the 2020 halving will kick in, no efficiency will save the miners, so in 5 years you will know about the fate of bitcoin

There are theories that are considering a decentralization of mining in the future. Namely, imagine a future were solar panel technology is cheap and very improved: Anyone will be able to mine through that basically for free and passively. Just an example.
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November 13, 2015, 08:29:25 PM
 #34

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.

imagine we kept to a 2cent tx fee..
right now with a total 4200tx per block limit(1mb). the max tx income for solving a block is $84.00
if the block limit is raised to 20mb, the max tx income possible per block is $1680
if the block limit is raised to 32mb, the max tx income possible per block is $2688

so based on limits proposed and known about in the next decade $2688 is the top miner income, where users wont be too upset to pay a fee..
sooo. although tx fee's wont really be fully essential in the next decade. it is something to think about in the 15+ years, when there is only 1mill coins left to mine.

so lets think about the yearly income of miners solving 32mb blocks.
$2688/block=$387072/day=$141,281,280/year

at a $141million potential income stream per year.. even 3 farms spending $20mill each on equipment can still make $27mill profit each per year..
which will keep difficulty high as there is soo much equipment hashing..

or on the flip side,

1 million people spending $60.00 each, will get $141.00 in return($81 profit), each year.. which will keep the blockchain decentralised..
either way, there is still profit and incentive to keep doing it.

-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.[/b]

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

less miners means more slices of pie for those who remain..
yea we might see 10 farms turn into 3.. but either way it will still find an equilibrium where there are a nice amount of miners who can profit..

just remember it only requires 3 miners.. (big or small) to keep an honest system.. so relax you are thinking about problems decades away, which will naturally sort itself out by changing from different strategies for mining.. and as i said there is upto $141mill potential yearly income, so thats always going to be tempting

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November 14, 2015, 08:30:25 PM
 #35

as i said you need two halving to force the price to increase or basically every miners will be out of the game, which mean bitcoin is dead

if the price remain in the range of 200-300 when the 2020 halving will kick in, no efficiency will save the miners, so in 5 years you will know about the fate of bitcoin

There are theories that are considering a decentralization of mining in the future. Namely, imagine a future were solar panel technology is cheap and very improved: Anyone will be able to mine through that basically for free and passively. Just an example.
couldn't agree more....and like I posted above.
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 14, 2015, 08:36:02 PM
 #36

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?

Bitcoin transaction payments will help keep it alive. I feel there will be a forced automatic transaction payment of 1% of the total funds sent. Unless I live to 140 years old (may be possible in my home country with the NHS if it is funded better in the next few vital years)! That would also mean that I will be working for 100 years before I could retire!
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November 15, 2015, 04:23:22 AM
 #37

I think that is possibilities that will happen is Bitcoin has a small community, much like today
andin 2140 i'll be dead, so i dont know how bitcoin will be in 2140  Tongue
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November 15, 2015, 04:33:30 AM
 #38

we are not sure that if the cryptography is still strong in 2140.  Huh
if it is still strong, then we don't need to worry.

out of ability to use the signature, i want a new ban strike policy that will fade the strike after 90~120 days of the ban and not to be traced back, like google | email me for anything urgent, message will possibly not be instantly responded
i am not really active for some reason
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November 15, 2015, 04:42:30 AM
 #39

Will we be doomed by 2140. After reading what u all wrote here I started to think about fate of this world. Can world survive until 2140? If we can I believe it will be like in some movies, tehnology will be everywhere. For the one who can pay for new things of course. So probably bitcoin will be like dollar now, if they dont make some new one. If I understand good this alt coins, someone very rich (read "banks") can make new coin and with good strategy, people on right places, huge investments they can push their coin very easliy.

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November 16, 2015, 07:19:31 AM
 #40

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

The fee has risen a lot since the stress tests. It makes me think the stress tests benefit the miners a lot.
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November 16, 2015, 07:54:10 AM
 #41

Forget about bitcoin fate in 2140 because most of us will be dead.
We even don't know if earth still exist in 2014, maybe there'll be war & earth is doomed.

Bitcoin'll dead if cryptography isn't strong in future or someone found a way to destroy bitcoin.
But, if none of them happened, most likely bitcoin is still alive in 2140.
That is the whole point of the story. As you know technology, and especially computers and software is produced with the aim of lasting for few years.
Look at hardware and PC specs from late 90. - your smartphone is much more faster that it. 10 years in computer tech developing is whole era.
I would be more worried about bitcoin's near future, government regulations, technical issues with bigger blocks, forking etc.
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November 16, 2015, 10:29:21 AM
 #42

Will 2140 huh! I will be long gone.

I hope that 2140 will look like the movie of Tomorrowland from the fuure.

And everyone using BTC. Cheesy
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November 16, 2015, 11:30:41 AM
 #43

According to me the chances of the first case are much more to happen.But the second case is very unlikely to be possible, though no one can predict the future.But bitcoin is the first of the crypto currencies and also the most successful of all of them, so the chances of its collapsing till 2140 are approximately nill.

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November 16, 2015, 11:48:48 AM
 #44

Who knows how society will be like in 2140, that's a lot of time, but what is for sure is, fiat will not exist, banks will not exist, and money will be digital. Will Bitcoin be the king of protocols? probably, more than the dollar existing.
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November 16, 2015, 12:06:16 PM
 #45

no one knows what will happen by that time. maybe bitcoin doesn't even exist anymore because it is replaced by something better. looking a few years infront of you is ok, but looking more than 100 years infront of you is insane.
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November 16, 2015, 12:23:45 PM
 #46

Then miners will stop mining because they wont get any Bitcoins lmao Cheesy
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November 16, 2015, 02:25:38 PM
 #47

Then miners will stop mining because they wont get any Bitcoins lmao Cheesy

miners will still get transaction fees. by design, as reward goes down transactions fees are supposed to up (with volume). that should incentivize miners to keep mining. I would think well before 2140 , the reward that miners earn will be comprised mostly of transaction fees anyway.
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November 16, 2015, 02:53:11 PM
 #48

As much as I am passionate about Bitcoin and its future Smiley the day when no more coins can be created puzzles me. Will coins be divided up in society in small amounts for the entire world to use? I don't think so. I think society is too held up by itself. It will adopt, but not everyone will adopt. I don't know what the future holds..

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November 16, 2015, 04:29:13 PM
 #49

I think BTC will be accepted in all country in year 2020.

2020 Is a nice number. But I think money well replace to BTC just I think it will be the future money.

The revolucion of MONEY (food --> gold/silvir/bronze --> cash --> banks/digital --> bitcoin)
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November 17, 2015, 10:04:50 PM
 #50

Then miners will stop mining because they wont get any Bitcoins lmao Cheesy

There will be no block reward in 2140. It could be early than 2140, may be 2100 as the difficulty increases all the time. However, if bitcoin still exists then, there will be transaction fees. Miners will live on transaction fee. The transaction fee will be high enough to support the miners.
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November 17, 2015, 10:20:23 PM
 #51

Then miners will stop mining because they wont get any Bitcoins lmao Cheesy

There will be no block reward in 2140. It could be early than 2140, may be 2100 as the difficulty increases all the time. However, if bitcoin still exists then, there will be transaction fees. Miners will live on transaction fee. The transaction fee will be high enough to support the miners.

transaction fees should be high enough to support miners. looks like around 2032 block reward will be .78btc. that's just around the corner. by 2050 block reward will be .0488 btc....its then another 90 years to 2140. so yeah transaction fees will support network....for bulk of its existance
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November 17, 2015, 10:24:22 PM
 #52

As soon as block reward gets lower than the fee's in block it will show weather bitcoin is going to keep rising in trend and value, or start decaying.
If fee's get higher than block reward, and price doesn't follow proportionally - hashrate will start decreasing.
That dependance in between these three values is what will dictate future.
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November 17, 2015, 11:03:03 PM
 #53

do you mean this is fate about bitcoin on year of 20140?  Huh
but i try to tell you something,i 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.
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November 18, 2015, 11:02:00 AM
 #54

One of the concerns I see raised when it comes to the network, mining and the transaction chain is the computing power, bandwidth and storage required to keep transactions moving. This is no different to mainstream banks except in comparison their fee's to users is unjustified.

The saving grace is that computing power, bandwidth and storage is now relatively cheap compared to 5-10 years ago. Having worked in IT for almost 20 years it has been amazing to see the change from massive 100MB hard drives to 8000000MB drives. CPU power has been the same, jumping from 20MHz to multiple 2GHz cores in one chip.

I would love to see Quantum computing and the Q-Waves in action as mining systems on a nice 10GB fibre link and some SSDs.

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November 18, 2015, 11:43:50 AM
 #55

I think in 2140 there is no more bitcoin.

I believe other crypto currency or other technology can replace bitcoin in the future.

But it still adopt from the bitcoin, as bitcoin is the 'mother' of the current crypto currency.
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November 18, 2015, 01:18:03 PM
 #56

That's the same as asking someone in 1890 (before the car was even invented, and only 11 years after we figured out how to turn on a lightbulb with electricity) what the world would be like in 2015.

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November 18, 2015, 02:42:51 PM
 #57

I think in 2140 there is no more bitcoin.

I believe other crypto currency or other technology can replace bitcoin in the future.

But it still adopt from the bitcoin, as bitcoin is the 'mother' of the current crypto currency.

Not necessarily. Bitcoin is programmable money, therefore, it can adapt. It can also keep getting its security improved, as it is today, it can already deal with quantum computer attacks. Satoshi knew that if he did a supply that would keep releasing coins until 2140, he had to make something that wold last this long. Bitcoin can last for all those years.
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November 18, 2015, 11:33:22 PM
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That's the same as asking someone in 1890 (before the car was even invented, and only 11 years after we figured out how to turn on a lightbulb with electricity) what the world would be like in 2015.



It's extremely hard to predict. There are some scientists that predict singularity reached actually a lot of years before we reach that, meaning that IA will be as intelligent as us or more... im not sure about this, but in case this happened, I wonder what the repercussion would be. Would a super IA more intelligent than us be able to create a "better Bitcoin?"
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November 19, 2015, 12:41:33 AM
 #59

2140 . . . . seems soooo far.
I don't think the internet itself (which support bitcoin distribution and activities) will be as how it was "back then" in 2015. So, first we will need to consider how the internet in 2140 as a control variable. Its not impossible at all that they found a new method of currency which will lead to your second point (btc will be abandoned by their community).
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November 19, 2015, 12:48:43 AM
 #60

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.

I've always been an optimist about the fate of Bitcoin , this seems to me preferable to the first scenario. At the same time, 2140 is still very far away from us who can say with certainty what awaits us ...
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November 19, 2015, 07:06:32 PM
 #61

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.

It has a big probability that Bitcoin become something really big, but for sure there will ever be some fiat money, maybe back to gold or silver system to prevent a too massive inflation, but it will never die.
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November 19, 2015, 08:15:07 PM
 #62

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.

It has a big probability that Bitcoin become something really big, but for sure there will ever be some fiat money, maybe back to gold or silver system to prevent a too massive inflation, but it will never die.

fiat currency will always exist. bitcoin doesn't need fiat to vanish or vice versa. they can perfectly co-exist together. no matter what, bitcoin will have a great future.
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November 20, 2015, 09:18:30 AM
 #63

It has a big probability that Bitcoin become something really big, but for sure there will ever be some fiat money, maybe back to gold or silver system to prevent a too massive inflation, but it will never die.

The bitcoin is bigger than all the rest digital coins added up. It is still being developed, it will not die soon. If it does die, that is because the community cannot reach consensus on many issues. It will be killed by its users and developers. I hope bitcoin 2.0 will replace it if it dies eventually.
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November 20, 2015, 10:21:23 AM
 #64

I'll probably be dead by then

But hopefully by the time the world even gets to 2140 bitcoin would be a worldwide success

and 5 times the people are using bitcoin on a daily basis
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December 02, 2015, 11:38:09 AM
 #65

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?
its like guess my destiny for next 10 year,but however that possibilities is make sense. i hope the first option will become bitcoin fate.
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.

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