If the mining profits decrease, will Bitcoin end?

[shinratensei_]

At the moment the miners for a block are awarded 12.5 BTC. Every 4 years this value will fall by half. For example, let's imagine that the prize value is 1.5 BTC for each block and that BTC's value against the dollar does not increase. In such a case, mining will not be very profitable.

At the same time, miners are also benefiting from the value of the fee. This time the fee values will increase. Then people will have to pay a high fee for bitcoin transfer. The biggest advantage of the Bitcoin system against banking systems was that they could shop without paying commissions to any brokerage house. If this happens, can bitcoin preference be reduced?

When there are ZERO rewards , the Fee Prices will be so high, people will move to other coins with cheaper fees and BTC will Die.


 

The transaction reward will increase and bitcoin will never die, but just some people are trying retire from the securing bitcoin network.  

[serjent05]

Bitcoin will never end as long as there are demands.  There are lots of factor that contribute to bitcoin survivability.  Technology, mass adoption, mining etc.  The most crucial is the adoption, if it stops then bitcoin will die, but if mining is non profitable, majority of the miners may stop but it will eventually make the difficulty lower, and the electricity needed to mine bitcoin will be lower too since people does not need that much of hashing power to get bitcoin reward.

[grandy]

No it won't. The block reward is halved each time. It creates more demand for miners and this way we will see a rise in price. If many miners quit, it would be easier to obtain reward and others will begin to mine. This system replenishes miner numbers.

yes that is right to say that if some miners even stop mining still some people will continue and then their reward will also increase. this system will even continue even in a better way. and bitcoin is not going ti end.

[ASHLIUSZ]

No it won't. The block reward is halved each time. It creates more demand for miners and this way we will see a rise in price. If many miners quit, it would be easier to obtain reward and others will begin to mine. This system replenishes miner numbers.

As quoted everything gets circulated and functions in correspondence to time. So when the supply decreases the demand will increase generating miners the profit. Another thing is that mining will be profitable till something comes alternate or overcome the bitcoin network.

[20kevin20]

No it won't. The block reward is halved each time. It creates more demand for miners and this way we will see a rise in price. If many miners quit, it would be easier to obtain reward and others will begin to mine. This system replenishes miner numbers.

As the block reward gets halved each 4 years, it actually becomes harder to obtain Bitcoin. Because the demand keeps rising, it shows us just how people are becoming more interested in Bitcoin and because it becomes hard to obtain one, the price needs to increase. Just like gold which is a limited resource, Bitcoin has to keep its price very high or it'd become useless to have one or to mine it. If gold was $1/oz nobody would be interested in investing in it.

[ko0ll0ove]

I have some question base on your idea. If the reward for miner is decrease through years... so maybe they will quit and nobody will spend there money for mining so how can bitcoin will be created ?

[st0nefish]

There is no way that bitcoin will end with just a decrease in mining profit. It will continue but the confirmation will take a very long time. The users will pay huge fee just to get the transaction done in time. But let us say a miner will stop mining because it is no longer profitable what will happen next, a new miner with a good hardware will replace the old miner and the cycle will continue. New mining hardware, new technology will just come out to solve the problem on difficulty, electricity and others.

One of the biggest problems of Bitcoin is the time to approve payments. At the moment we can say that your payment will be approved in 0-30 minutes with a minimum value of 90 satoshis/byte. For the average transaction size of 226 bytes, you need to pay 20340 satoshi. Average fee values can be viewed on this site https://bitcoinfees.21.co

Bitcoin was the first time the fee values were very low. Over time, these fee values increased. One of the reasons people choose bitcoin is that the commission fees are low in transferring money.
If the block award value is 1.5 BTC in the future and the bitcoin price does not increase, this time the fee values will increase so that the miners can make money. If these fee values are more than the money transfer fees of the banks, there is a possibility that people will drop the bitcoin.