What will happen when BTC will get closer to 21M?!

[Cartman720]

Hi Guys!

Recently I was thinking what will happen after 21M limit reaches?!

Whole bitcoin decentralization relies on miners, who compute for our transactions and so, but they should have their profit in that, cause nobody won't work for free
As far as the limit getting closer the mining starting to be slow and profit is getting to be less.

I guess sooner or later a lot of miners will move to other cryptocurrencies like ETH and so, even if some non-profit organization take care about mining process the whole meaning of the decentralization will disappear.

I think there is no Bitcoin bubble in that meaning like was for dot.com (though for other currencies there is bubble IMHO:)), because the whole meaning of Bitcoin is anonymity and this is very important thing for humans in the our era, which means that even if Bitcoin reaches to the 21M there won't be significant deflation, but my concern is that as far that number getting closer as mining will become less profitable and miners will drop this useful and great process!

Hope I am wrong, because Bitcoin is great project!

[Xavofat]

This is why we have a search function on the forum.  So that you don't have to make a collection of outrageously stupid assumptions based on a lack of knowledge.

As far as the limit getting closer the mining starting to be slow

The difficulty is adjusted every 2016 blocks so that a block is still mined approximately every 10 minutes.  So the "speed" will always be approximately the same.

and profit is getting to be less.

If some miners leave, the difficulty adjusts so that mining would still be profitable for the people that remain.

I guess sooner or later a lot of miners will move to other cryptocurrencies like ETH and so

ETH is ASIC-resistant and uses a different mining algorithm.  They would have to buy new hardware.

the whole meaning of Bitcoin is anonymity

Read the whitepaper.

[Hexcolyte]

When the entire supply of Bitcoin has been mined, the miners have to rely on the transaction fee as the only source of profit. So maybe at that time the transaction fee will be way higher than now because the miners have earn more than their expenses. But there might be technology which allow faster and fairer mining method, who knows

[ViceOfBTC21]

Recently I was thinking what will happen after 21M limit reaches?!

This is very far future (2140), but I can try to predict.

The miners will be still needed but they will earn only transaction fees so most of them will move up to mining another PoW cryptocurrencies. If the miner is powerful enough for another crypto, then yes, they will mine it. If no cryptocurrencies will be that you can mine with this miner or miners will be too weak, then they will sell miners. Also the difficulty changes every 2016 blocks so remaining miners MAYBE can stay profitable. We can't predict that.

[Cartman720]

Yep of course it is too far, but speed of transactions getting slower and slower, right now there is no any fork for that.
Segwit2x isn't accepted by mostly of all exchanges so who knows what will happen with all this ecosystem.

then they will sell miners.

That's how deflation happens
All will start sell their hardware and price will go down for hardware, but no many people will buy them.

[Pa1n]

Totally people get crazy Limit boundiries can push higher and higher no limit for BTC

[duongdaiduong]

The Bitcoin price will be very high as the supply of Bitcoin is limited and the ownership of 1BTC at that time will be very difficult.

[Cartman720]

Totally people get crazy Limit boundiries can push higher and higher no limit for BTC

You are right anything created by human can be changed by human! 

[Cartman720]

The Bitcoin price will be very high as the supply of Bitcoin is limited and the ownership of 1BTC at that time will be very difficult.

Yes you are right, in my opinion the blockchain and decentralization will exist, but not all people will find attractive to use, only those ones who have to keep their identity. Will they be good or bad people that is other question

Problem is that whole system relies on miners and if they don't find profit they will leave system, though history shows that catastrophic situations from films (like all machines will rise against humans) don't happen.
During the time ASIC miners will become cheaper according to Moor's law, which is great!

[Xervo]

I think when the miners collect all 21 million bitcoins, the price for them will start to grow very much. The owners of bitcoins will begin to dictate their terms for sale and it will be similar to an auction

[dificanovi]

it's a very high prediction for the current bitcoin, it is not possible in the near future the bitcoin will go up that far. I think bitcoin rises as high as that in 2050. if we meet at such a high bitcoin price, I think the poor are gone.

[sofi@]

If bitcoin will reach it maximum limit in supply the value will surely increase so that bitcoin will become available in the market and continue to be part of the circulation also if that happens a lot of alt coins can possibly increase in value and gets a high demand because people needs to divert their market. I don't if this will be a good thing about bitcoin but I think we are closer to the day that all bitcoin will be mine and distributed around the world.

[noictib]

Hi Guys!

Recently I was thinking what will happen after 21M limit reaches?!

Whole bitcoin decentralization relies on miners, who compute for our transactions and so, but they should have their profit in that, cause nobody won't work for free
As far as the limit getting closer the mining starting to be slow and profit is getting to be less.

I guess sooner or later a lot of miners will move to other cryptocurrencies like ETH and so, even if some non-profit organization take care about mining process the whole meaning of the decentralization will disappear.

I think there is no Bitcoin bubble in that meaning like was for dot.com (though for other currencies there is bubble IMHO:)), because the whole meaning of Bitcoin is anonymity and this is very important thing for humans in the our era, which means that even if Bitcoin reaches to the 21M there won't be significant deflation, but my concern is that as far that number getting closer as mining will become less profitable and miners will drop this useful and great process!

Hope I am wrong, because Bitcoin is great project!

I don't think any new Change we will see than what we are seeing in the bitcoin . In these days the demand of the bitcoin getting high and supply is going down . But as the time will spent more and more then with that time demand will get like fiat currency in the local world . I means to say that price of the bitcoin will increase constantly and the transaction fee will play a big roll in that case when no mining will happen , frommthe Google source I found that after the stop of 21 M supply , the fee will be goes directly to miners for the transaction and no one system will work between the another system of bitcoin network , so in that time the person have bitcoin will grow his money value easily by doing nothing than hold in Wallet.

[richmcrich]

it's a very high prediction for the current bitcoin, it is not possible in the near future the bitcoin will go up that far. I think bitcoin rises as high as that in 2050. if we meet at such a high bitcoin price, I think the poor are gone.

It will happen soon in future, the speed which bitcoin is showing in raising its price is much more and is predicting that it has much to achieve yet and its not the end. People are getting more into it its worth is getting high due to the increasing numbers of investors in the market who are increasing its demand

[whitemacna]

Totally people get crazy Limit boundiries can push higher and higher no limit for BTC
Problem is that whole system relies on miners and if they don't find profit they will leave system, though history shows that catastrophic situations from films (like all machines will rise against humans) don't happen.During the time ASIC miners will become cheaper according to Moor's law, which is great!

[NABILA AKTER SHILA]

Bitcoin prices will increase rapidly when BTC gets closer to 21m. Then Bitcoin authorities will sell their condition and call it auction. Bitcoin will be used worldwide. People will use Bitcoin in general. According to the needs of the people get Bitcoin in the market.

[Thanasis]

Bitcoin prices will increase rapidly when BTC gets closer to 21m. Then Bitcoin authorities will sell their condition and call it auction. Bitcoin will be used worldwide. People will use Bitcoin in general. According to the needs of the people get Bitcoin in the market.

Who is that bitcoin authority?

Bitcoin is an decentralized technology so no one can own it and when reaches that 21M of bitcoins the price maybe high because as per the calculation last bitcoin will be mined at 2140.So that time most of the people will be using if bitcoin says until so the price also will be high.But after that also the same process but miners will be getting rewarded only through transaction fees.

[jack8989]

Bitcoin prices will increase rapidly when BTC gets closer to 21m. Then Bitcoin authorities will sell their condition and call it auction. Bitcoin will be used worldwide. People will use Bitcoin in general. According to the needs of the people get Bitcoin in the market.

I do not think that. Bitcoins are not available for sale because no one runs them. The person who created it is said to have died and no one can decipher the bitcoin. But I can assure you that the bitcoin will never cost $ 21m. That's an unrealistic number and the sharks can not pump the price of such high bitcoin.

[Netnox]

Just relax... we are a long way off.. The maximum limit will be reached by 2140, and none of us will be alive by then. If Bitcoin survives that long, then I guess Satoshi, rather than BTC or mBTC will be the preferred denomination for doing transactions.

[ranochigo]

As the supply decreases, the transaction fee would increase to compensate for that. It does not mean that the transaction fee per size would increase given the possible optimizations to the protocol. It would most likely hit an equilibrium and most miners would still be mining on it with their ROI'd ASICs.

Its also very possible that the decrease in supply would result in the upward pressure on the price and thus the price would likely be hovering at even higher prices. Obviously this is hypothetical and it would largely depend on the attractiveness of Bitcoin to the general public.