What if there is nomore coins to mine?

[jacee]

So I was watching videos on youtube and I came accross to a video regarding the facts about bitcoin. I saw there that every halving the reward block is halve right? And so the rewards that the miner will get will decreased. My question is what will happen to the miners if there will be no more coins to mine? Since there is only a limit on how many bitcoins can be produced, a time will come that mining will put on stop. What will happen to the bitcoin price if then?

[mocacinno]

So I was watching videos on youtube and I came across to a video rearding the facts about bitcoin. I saw there that every halving the reward block is halve right? And so the rewards that the miner will get will decreased. My question i what will happen to the miners if tere will be no more coins to mine? Since there is only a limit on how many bitcokns can be produced, a time will vome that minin will put on stop. What will happen to the bitcoin price if then?

The miners still get the fees, so hopefully by then, the fees should be worth enough to make mining profitable
If the fees aren't enough for mining to be profitable, some miners will stop mining, raising the amount of blocks found by the leftover miners... that way the leftover miners find more blocks => more fees => profit

[electronicash]

Miners will still be able to turn a profit from transaction fees.

[RodeoX]

Miners will still be able to turn a profit from transaction fees.

Yep.

If you want to understand the idea, then the white paper is a good place to start and end. You can find it linked in my sig where it says "the gospel according to Satoshi".

[richardsNY]

Miners will still be able to turn a profit from transaction fees.

Assuming the prices are going up to right now unseen price levels. Then yes, they will be able to mine at a profit when also the fees get higher due to the fact that there is nothing left to mine.

[BillyBobZorton]

But the fees will need to be high enough for the miners to bother, that is why I doubt we can have super low fees for life. Imagine we are in 2140... do you think we will still be paying the current fees? I don't think so. Well when I say "we" I obviously mean "they", unfortunately.

[gripflierGO]

But the fees will need to be high enough for the miners to bother, that is why I doubt we can have super low fees for life. Imagine we are in 2140... do you think we will still be paying the current fees? I don't think so. Well when I say "we" I obviously mean "they", unfortunately.

currently we see 0.3-0.5btc tx fees for each block and it will increase with time when more users start using bitcoin and do transaction.the time when bitcoin block rewards go very down price will also increase to make it worth mining.at that time this small tx fees will enough for miners to make profit from mining.

[Betwrong]

So I was watching videos on youtube and I came across to a video rearding the facts about bitcoin. I saw there that every halving the reward block is halve right? And so the rewards that the miner will get will decreased. My question i what will happen to the miners if tere will be no more coins to mine? Since there is only a limit on how many bitcokns can be produced, a time will vome that minin will put on stop. What will happen to the bitcoin price if then?

The miners still get the fees, so hopefully by then, the fees should be worth enough to make mining profitable
If the fees aren't enough for mining to be profitable, some miners will stop mining, raising the amount of blocks found by the leftover miners... that way the leftover miners find more blocks => more fees => profit

This is the best explanation IMO. Simple but still very accurate. I'll try to make it even more simple:

The lesser the number of the miners the more the rewards the left miners get.

So, no worries, Bitcoin will be here until the end of times. )

[darkstarzz69]

Also, fun fact, if I'm not wrong, there will only be 21 million coins released and we have currently mined 15 million..

[wadili89]

the master mind satoshi have made a almost perfect thing it is not going any where miners still gonna get profit probably more and i think when there is no more coins to mine that time bitcoin price will also rise and will be stable then now because no new coins are being mined only old coins are in the market

[QuestionAuthority]

Of course there will be money to make in fees but that's not the only reason to keep the network security in place. If Bitcoin survives in its present form for another 125 years then millions of businesses will depend on it. Those businesses (let's say, like BitPay) will keep farms going to support the system that their business depends on. Fees collected will be a secondary concern for them.

[Blawpaw]

So I was watching videos on youtube and I came across to a video rearding the facts about bitcoin. I saw there that every halving the reward block is halve right? And so the rewards that the miner will get will decreased. My question i what will happen to the miners if tere will be no more coins to mine? Since there is only a limit on how many bitcokns can be produced, a time will vome that minin will put on stop. What will happen to the bitcoin price if then?

At that point, miners will still continue their functions and be reward with the transaction fees.

[BTCBinary]

In 2140 the issue of coins will end but mining will still be needed. PoW is an essential part of the network, so mining will still need to be done.

[jacee]

Miners will still be able to turn a profit from transaction fees.

Yep.

If you want to understand the idea, then the white paper is a good place to start and end. You can find it linked in my sig where it says "the gospel according to Satoshi".

Thanks for this. Will be reading this tomorrow when I got some time.
Thanks for all the answer guys. I did understand that but what if then after all coins has been mined, miners will be paid only by transactions right? So what if then the time comes that the btc price fell down? Is that possible?

At that point, miners will still continue their functions and be reward with the transaction fees.

By functions you mean what? They will continue mining? there will be no more coins lef tomine right so wha woul they do now?

[Mickeyb]

miners will be paid only by transactions right? So what if then the time comes that the btc price fell down? Is that possible?

That has a low chance of happening as price increases as demand increases(most of the times)
As to your question, you'll be dead by then . From what I heard from DannyHamilton and other members, the year the last BTC(partial) will be mined is 2140*. So yeah, lot of time for that to happen. Anyway coming back to what will happen, miners will just get the tx fees, and hopefully by then either BTC price is very high that mining is still sustainable or transaction fees increase. The former is more likely I believe.

*Googled and it seems , its just an estimate but you get the idea.

** Forgot another possiblity that is, (majority of) nodes decide that number of bitcoins should be increased, so the protocol may be changed

[RodeoX]

At that point, miners will still continue their functions and be reward with the transaction fees.

By functions you mean what? They will continue mining? there will be no more coins lef tomine right so wha woul they do now?

Mining is also the process for creating the blocks that mathematically secure the network. The fee they get for doing this creates competition leading to the lowest transaction fee that can be supported profitably. Over time miners will make an increasing percentage of profit from fees rather than block rewards. So basically they are being paid to burn electricity and keep the system running.

[Mickeyb]

So basically they are being paid to burn electricity and keep the system running.

Talk about mentality, you make it sound way horrible

[Amph]

Miners will still be able to turn a profit from transaction fees.

this assuming that the value of bitcoin is very high, to have the same profit as they have now a farm of 1 peta for example, need to earn 4.43 btc a day($2k)

this mean that the value of bitcoin must be in the range of 1000x higher, assuming that they can earn 400k in fee each day in the future

so basically the same marketcap as gold...

[RodeoX]

So basically they are being paid to burn electricity and keep the system running.

Talk about mentality, you make it sound way horrible

ha, lol. I sure appreciate their work.

[bearex]

It will be the same as now, it could rise and could fall. The only difference is with the miners. They will only mine bitcoin transactions and no actual bitcoins, so i dont know what will happen with the fees. The needs for HASH power will definetly be smaller though.