Is Bitcoin designed to last forever?

[rektDude]

I dont think allot of people will stay for the rest of their lifes into the bitcoin because one day he will drop down that much and rebuild all of it again so that makes very many people sad.

[vero]

I dont think bitcoin is really desinged to last forever because i know for sure that allot of people are making money with it but not for the rest of their lifes you know allot of peopel are doing well with bitcoins but will that stay?

the possibility there are because not all bitcoin successfully mined and adventure is still far just enjoy what we could get from  bitcoin.

[Cozynunu]

But assuming that we have reached reward era 34, what happens then? Miners wouldn't have any rewards from mining then.

You are forgetting that Bitcoin has transaction fees. The total sum of transaction fees paid for transactions in a certain block goes to the miners solving that block (in addition to the block reward). While total transaction fees today are typically significantly less than 1 BTC per block, this total sum is already significantly higher than a few years ago.

In future, transaction fees will progressively increase in relevance compared to block rewards and ultimately entirely replace them as an incentive to solve more blocks.

You also have to consider that with decreasing block rewards, Bitcoin's valuation will very likely increase significantly. So mining might still be profitable, even if the amount of Bitcoin obtained in the process is only a fraction of what it is today.

ya.ya.yo!

I dont think bitcoin is desinged to last forever because i know what the price of the bitcoin will be in the future and if we are all holding like most of the people are doing right now it wont last long.

[Legasean]

But assuming that we have reached reward era 34, what happens then? Miners wouldn't have any rewards from mining then.

You are forgetting that Bitcoin has transaction fees. The total sum of transaction fees paid for transactions in a certain block goes to the miners solving that block (in addition to the block reward). While total transaction fees today are typically significantly less than 1 BTC per block, this total sum is already significantly higher than a few years ago.

In future, transaction fees will progressively increase in relevance compared to block rewards and ultimately entirely replace them as an incentive to solve more blocks.

You also have to consider that with decreasing block rewards, Bitcoin's valuation will very likely increase significantly. So mining might still be profitable, even if the amount of Bitcoin obtained in the process is only a fraction of what it is today.

ya.ya.yo!

Do you really think that the bitcoin is not designed to last forever i think that the bitcoin will stay always the same maybe a higher price but there are only more and more people using it.

[TraderETH]

Up to date bitcoin network is still safe for be used and there are not found weakness of it, but if we talking about bitcoin is desained to last forever, i think there are not people who know it, because the technology always growing up.

[Fatanut]

I think so. Bitcoin has no weak spot that people are capable of abusing. People can only misuse Bitcoin but people can't spam Bitcoin to the point that it will go down. Bitcoin is a currency but it exists on the internet. Ask yourself, do you think fiat money would last forever? If your answer is yes, then Bitcoin will last forever, as well. If your answer is no, then maybe it's because you have doubts on Bitcoin.

[dunfida]

No one really knows  when bitcoin would  last since anything in this world doesnt last forever but  i could somehow assured that bitcoin would last a little  longer since its already been used  by people  and the adoption of bitcoin is  growing day  by day which causes for  the price to rise up, as long their are people  who use bitcoin it wouldnt  easily die.

[Lagduf]

bitcoin will be designed to last until internet gone and being replaced by another far superior technologies that maybe will be happen in the next age

[randy8777]

there is so much nonsense in this thread... it's actually very simple, as long as there are a few miners and people hosting nodes, then it will continue to exist.

[danherbias07]

I've been thinking about it since last night and I couldn't find an answer to myself.
I know that there's a 21 million block cap and we wouldn't actually be here to see that time it comes to that point.
But assuming that we have reached reward era 34, what happens then? Miners wouldn't have any rewards from mining then.

Anyone care to help explain a few things for me?

i remember there was a thread like this before. if all coins were mined like 21M of them in the far future which i think we'd all be dead.
Miners will still receive transaction fees and so theres no stopping unless people stop using bitcoin.

That is way too far but if ever it is all mined you are right. It will just be rotating and be used for big koney transaction. If you try to calculate it even just for the price now a million bitcoin is 600m+ dollars. That is way too huge.

[youhgt2]

yes i am hopeful that bitcoin will stay for ever because it is now becoming the world number one crypto currency and all the people of the world will be using bitcoin in all over the world.

[mobnepal]

yes i am hopeful that bitcoin will stay for ever because it is now becoming the world number one crypto currency and all the people of the world will be using bitcoin in all over the world.

Bitcoin is already known as world number one crypto currency and in the way to become the mostly used digital payment processor. Bitcoin will survive till there will be internet as well as few peoples hosting nodes and few miners keep mining, and as of now bitcoin community is huge so i don't think there will be a situation where there will be no one supporting bitcoin in future.

[ObscureBean]

No one can really design something to last forever because nothing in the human world is ever perfect. That said, Bitcoin doesn't need to be perfect. Nobody knows for sure how the network will hold up after mining ends but that's okay because the code can simply be modified/enhanced/updated along the way. So in that sense, it certainly could go on forever. The Bitcoin of the future is likely going to be very different from the one we know today, the same way descendants are different from their ancestors.

[Prettygirl01315]

I guess its a yes because bitcoin is like a gold. Bitcoin is all over from the cyberworld so it cannot disappear no matter what. Just like gold it is all over from the land just mine it or search it then you will the gold or the bitcoin. Another similaralities is the value of the is continuing to up.

[croutonhexagon]

May not last because it will last as long as human beings want to trade and use bitcoin and as long as bitcoin network last. There is still no hope that bitcoin will last forever because there will be only 21 million bitcoin and if all people start using bitcoin then there will be shortage of bitcoin and price will be sky rocketing and with such high rate people will refuse to use bitcoin rather they would choose other coins.

[kanazawa]

It sounds pretty poetic but "nothing last forever" so Bitcoin won't last. There's a paper where it's said how much coins and how much time it will take to mine the laaaast coin. This thing will erupt a situation that I really don't f****** know because it will happen in a very distant future --more distant than the paper said of course, because it's not a end prediction. When this day come we will be using hover cars like dr. Brown. It will be great.

[xIIImaL]

I guess its a yes because bitcoin is like a gold. Bitcoin is all over from the cyberworld so it cannot disappear no matter what. Just like gold it is all over from the land just mine it or search it then you will the gold or the bitcoin. Another similaralities is the value of the is continuing to up.

Yup it is better than gold according to me. I believe Bitcoin has the potential to buy anything in the world and price will best part of the Bitcoin because as I know this is the only stock in the world which is costlier than anything.

[naidray]

It sounds pretty poetic but "nothing last forever" so Bitcoin won't last. There's a paper where it's said how much coins and how much time it will take to mine the laaaast coin. This thing will erupt a situation that I really don't f****** know because it will happen in a very distant future --more distant than the paper said of course, because it's not a end prediction. When this day come we will be using hover cars like dr. Brown. It will be great.

Yes nothing lasts for ever but bitcoin will stay as long as human will stay in this world or at least till internet survives in this world. There is no meaning of expecting bitcoin system to survive even after human race fails to do so. So, I just want to argue that bitcoin will stay with us as long as we need it.

There is no point of expecting bitcoin and the internet to survive for ever in this earth whereas there is no guarantee that human will survive for ever in this earth.

[Usainbot]

I dont think allot of people will stay for the rest of their lifes into the bitcoin because one day he will drop down that much and rebuild all of it again so that makes very many people sad.

The bitcoin price is volatile. But as long as it is under good development, the price will rise in the long term.

[Foref1982]

I didn't design it so I don't know whether the original designer(s) wanted it to last forever or not, but I don't think that bitcoin will last forever. It will last much longer because it's been with us for the longest, but by time other crypto currency will grow up next to up in technology and slowly take the place.