After all bitcoins mined

What would happen after all the 21 million bitcoins mined? How the transactions would be carried?

After all the 21 million bitcoins are mined blocks continue to build up. Miners will receive fees only.

Quote from: Dimelord on March 09, 2017, 10:46:19 AM

What would happen after all the 21 million bitcoins mined? How the transactions would be carried?

The transactions should be carried in the same way as now.
The difference is that now the miners get the block reward + tx fees and then they'll get only the tx fees.
It's one of the reasons the Bitcoin price (or the fees) will have to rise enough to keep the mining profitable even in those years to come.

When all the bitcoins will be mined which will happen in the year 2140, they will only get rewards and it is possible that the price of bitcoins would rise up to a sky level and new bitcoin miners would not be any profitable.

The main thing which most likely would happen is that the BTC price will reach one of it's biggest high's.The circulation of BTC would most probably be at the same levels,although maybe much more people will prefer holding BTC and will rather not sell their BTC

Quote from: NeuroticFish on March 09, 2017, 10:55:02 AM

Quote from: Dimelord on March 09, 2017, 10:46:19 AM

What would happen after all the 21 million bitcoins mined? How the transactions would be carried?

If the fees increase less people will use bitcoin, which means that the bitcoin price will decrease.
When the block reward dissapears after all btc mined,the fees will have to increase in order to keep the mining profitable.
If the mining isn`t profitable,who will handle all the transactions?
This means that the bitcoin price will have to reach the sky,or bitcoin will die.

Quote from: Dimelord on March 09, 2017, 10:46:19 AM

What would happen after all the 21 million bitcoins mined? How the transactions would be carried?

This issue has been discussed for years and the solution was actually part of the make up of bitcoin, Satoshi talked about it in the bitcoin white paper. Transaction fees will reward miners for continuing to mine even after the block reward has stopped, which incase you dont know will be some time around the year 2140.

Quote from: davis196 on March 09, 2017, 12:59:33 PM

Many use Bitcoin as asset, as store of value or investment.
For them Bitcoin price rise to the sky is just fine.
However, if Bitcoin cease to be a coin, miners (and the network security) will be in trouble: whatever big will be the price of Bitcoin, if it doesn't circulate there will not be tx fee at all. No reward, no mining, and so on..
I hope that the system will auto-adjust itself and survive. Actually Satoshi thought of this problem and we have the halving, which is a good way to prepare, slowly, everybody to what's to come.

Quote from: rajasumi3 on March 09, 2017, 11:11:41 AM

Year 2140 is too far away and we wouldnt able to see or witness the last bitcoin would be mined.Expected after the supply have been completely mined then prices will surely surge and the same as other members said miners would only just profiting on transactions fees.

With no more bitcoins being added into circulation, then we can only expect the price to rise. I guess that was his intention anyway, to make it like a finite resource like gold. The price would probably really high by then (and probably wouldn't be alive to see it, heh) and that would be fine since that would give miners incentive to continue work and just earn from the transaction fees. Bitcoin's high divisibility comes to work here since even if the price reaches past 10k by then, we can still transact and just use smaller amounts.

Quote from: Zadicar on March 09, 2017, 01:58:43 PM

Quote from: rajasumi3 on March 09, 2017, 11:11:41 AM

How would a technology that incentivize "hoarding" lead to more transactions? We are hoping the demand will increase to a level where hoarders

will start to sell and then more people will share the bitcoins in circulation. We should just hope that the new people buying into Bitcoin are not

doing this to "hoard" too. This is why we should all adopt a strategy that all bitcoiners should only hoard about 80% of their coins and they

should spend 20% to "oil" the network and to generate transactions. Roll Eyes

Quote from: Zadicar on March 09, 2017, 01:58:43 PM

Quote from: rajasumi3 on March 09, 2017, 11:11:41 AM

Think about the profit miners will get when there will be 21 million bitcoins transacting in daily basis. Of course there will be holders but also at least 18 - 19 million bitcoins will be in the flow. Miners may not be getting as much as they are having by mining but they'll definitely have profit with it.

it will be alla about fee, and miners now this, and they are building the value of the fee right now with the increase, without the reward miners need to have a form of revenue which derivate from a bigger transaction fee, in 2140 when the reward will end a transaction fee will have a gigantic value

That’s a very valid question and many people have the same question in their mind. We all know that bitcoin transactions are included in a block and then need miners to confirm the block before a transactions can be confirmed.

However, after 2023, when all the bitcoin will be mined, the miners task will not end. They will have to keep running active nodes in their system to confirm the transactions and they will get the fees in return. I think the transaction time will come to minimum but fees will be higher than the current fees.

miners will mine for transaction fee only, that's why we have transaction fee, otherwise miner after the block reward end will not have anything as a reward, was very wise from satoshi to add this features

We just hope that the price of bitcoin is high enough so that even if the miners only live from the transaction fees, it will be enough to cover their cost and still have some profit. Or else, there will be no miners and bitcoin will be dead.

Quote from: Dimelord on March 09, 2017, 10:46:19 AM

What would happen after all the 21 million bitcoins mined? How the transactions would be carried?

When the mining in progress that time your transaction amount of bitcoin will move in the multiple blocks to complete the transaction with the specific number confirmations with that.
Miners will get the mining fees but its not enough to make out the electricity charge as well. In recent days you might noticed that transaction send via blockchain.info consumes some big fees amount for minimum mentioned fees also.

Dont really have an idea if what will happen if all bitcoins will be mined in the future.But surely it will affect huge the price of bitcoins,it may stablelize or even play a lilttle more due to huge demand with not enough supply.Bitcoins price may rise or vice versa

In 2140 if there's 100k txs per minute and $0.10 per tx, and the "block reward" will be $100,000.

Everything depends what the demand for Bitcoins will be then but I'm sure mining all Bitcoins would affect price a lot and it could go very high. But if the greatest amount of Bitcoins would be in hands of just few people, whales, that could be bad for everyone else. But this is still distant future so we can only speculate.