khiholangkang (OP)
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July 16, 2017, 07:34:37 AM |
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There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
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jeraldskie11
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July 16, 2017, 10:31:25 AM |
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There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
According to research if bitcoin reach its limit, it will be disappear but it doesn't happen already so don't worry. I think devs will solve the problem to extend.
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gilangIDR
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July 16, 2017, 10:53:30 AM |
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There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
According to research if bitcoin reach its limit, it will be disappear but it doesn't happen already so don't worry. I think devs will solve the problem to extend. One of the options now is to develop bitcoin. In the future there is an issue stating that there is a new type of bitcoin that will be outstanding. But it is still limited to requests from several communities only. We'll see later, but I still like the bitcoin that exists today. Changes can sometimes lead to good, but sometimes can make things worse.
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tubexc
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July 16, 2017, 10:58:10 AM |
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There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
The answer to this question has already been answered in this Forum. After all the bitcoin is generated, transactions will be mined only.
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veleten
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July 16, 2017, 11:55:31 AM |
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There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
nothing will happen,there can only be 21 million bitcoins mined,after the last one is mined there will be business as usual,only the miners will be solving blocks to recieve transactions fees,not the block rewards very soon,after 3-4 block reward halvings,this will be the main source of income for them anyways
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iqlimasyadiqa
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July 16, 2017, 03:15:27 PM |
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There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
nothing will happen,there can only be 21 million bitcoins mined,after the last one is mined there will be business as usual,only the miners will be solving blocks to recieve transactions fees,not the block rewards very soon,after 3-4 block reward halvings,this will be the main source of income for them anyways After everything is done bitcoin prices will increase, with the limitations of existing bitcoin will certainly make more and more people using bitcoin. This will make bitcoin difficult to find and also bitcoin into goods or currency that is very popular. This is indeed a prediction, everything can change. We must wait until the time comes.
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JPITrader
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July 16, 2017, 06:50:29 PM |
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I think transaction fees will increase and the reward will still be nice income for the miners. But meanwhile, core dev team may find out some other alternatives.
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mostkey
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July 16, 2017, 11:41:34 PM |
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I think transaction fees will increase and the reward will still be nice income for the miners. But meanwhile, core dev team may find out some other alternatives.
It is certain there will be an alternative in mining activities that will end in the amount of 21 million, That is only our benchmark, but the miners of the team must have had other ways to overcome it
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KingScorpio
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July 17, 2017, 12:39:06 AM |
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There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
According to research if bitcoin reach its limit, it will be disappear but it doesn't happen already so don't worry. I think devs will solve the problem to extend. i think bitcoin will start disappear before that, it will end like a fashion sidenote among cryptocurrencies/token that will come in the future that will basically be like investments funds bank accounts and be strictly backed by existing assets and organisations and have a strict audit unlike bitcoin that just is an empty anonymous IT system. additionally there will be cybercrime organisations and syndicates that might hiddenly try to do 51% attacks on cryptocurrency systems especially if they become valuable because of to many fanatic believers like bitcoin has. bitcoin is more like a speculative flagship that introduces a new technology. as soon as the hype flows down and the choice gets bigger people will rethink for what money they work for. regards if someone is interested joining a good new blockchain project than PN me cant tell more yet.
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oliviajizz
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* PM for Japanese Translations *
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July 17, 2017, 03:04:06 PM |
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miners - they'll just work for transaction $ and secure the network.
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* PM for Japanese Translations *
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btctousd81
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July 17, 2017, 06:10:26 PM |
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it will take many years., from wiki, it says it will be year 2140 to be all bitcoins to be mined completed., later that miners and ASIC will work to confirming the transactions., and get paid fees.
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xFiber
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July 17, 2017, 06:13:34 PM |
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The network will run on all the transaction fees that are required to send your bitcoin over to another bitcoin address. But that will atleast take another decade if I'm not mistaken. I wonder how big bitcoin will be at that point in time. Perhaps everybody is using bitcoin then.
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RodeoX
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The revolution will be monetized!
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July 17, 2017, 06:16:30 PM |
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Looks like a lot of people have not read the white paper. Mining all the coins is part of the plan. It is not a problem.
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bamboylee
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July 17, 2017, 06:56:35 PM |
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According to research if bitcoin reach its limit, it will be disappear but it doesn't happen already so don't worry. I think devs will solve the problem to extend.
Where is this answer coming from? I wonder what research paper you read because it is definitely not in bitcoin's whitepaper. One of the options now is to develop bitcoin. In the future there is an issue stating that there is a new type of bitcoin that will be outstanding. But it is still limited to requests from several communities only. We'll see later, but I still like the bitcoin that exists today. Changes can sometimes lead to good, but sometimes can make things worse.
That is an altcoin not bitcoin
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Jp2023
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July 18, 2017, 11:08:02 AM |
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I think price of bitcoin will increase. The good thing about bitcoin is limited. just like gold it is also limited that is why the price of gold is very expensive. the only problem with btc is that you can not physically touch it. but as long people still using bitcoin then price will only increase.
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Emoclaw
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July 18, 2017, 11:13:47 AM |
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There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
According to research if bitcoin reach its limit, it will be disappear but it doesn't happen already so don't worry. I think devs will solve the problem to extend. One of the options now is to develop bitcoin. In the future there is an issue stating that there is a new type of bitcoin that will be outstanding. But it is still limited to requests from several communities only. We'll see later, but I still like the bitcoin that exists today. Changes can sometimes lead to good, but sometimes can make things worse. No. According to what research? Bitcoin will still exist when all Bitcoins are mined and the developers don't have to do anything about it. Miners will keep mining and getting paid from the transaction fees of each block, which will be adequate due to the huge amount of transactions assuming Bitcoin also scales on-chain.
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Basmic
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July 18, 2017, 12:22:13 PM |
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If the price of the transaction is not reduced then I am afraid that there will be a large number of transactions. It seems to me that we should think about now. While it is possible to get coins to lower the price of small transactions and develop trade with bitcoins.
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NaRkO
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July 19, 2017, 09:10:30 AM |
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Monero will replace Bitcoin Coming sooN 1XMR = $1000
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terataz
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July 19, 2017, 09:14:33 AM |
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This is the most complete definitive answer. No. According to what research? Bitcoin will still exist when all Bitcoins are mined and the developers don't have to do anything about it.
Miners will keep mining and getting paid from the transaction fees of each block, which will be adequate due to the huge amount of transactions assuming Bitcoin also scales on-chain.
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Amph
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July 19, 2017, 09:49:36 AM |
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they will mine for fee, which are around 220 btc now, against the 1800 btc from the total emission per day, 1/9
this value in fee will be lower thanks to segwit, but this also mean that the same value will be higher against fiat currency, because will force adoption and the value will increase
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