what happens when all the bitcoins have been mined?

[simongoat]

hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.

[Coin.Master636]

Bitcoin will become more scarce and one of two things will happen:

• Bitcoin dies a slow death because nobody wants it anymore (unlikely)
• Bitcoin prices will skyrocket because it becomes scarce/limited.

When it will happen can't be predicted exactly. Depends on the miners and difficulty of mining.

[rajuahmed763]

hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.

I do not know whether this will happen or not. But I think it will not be like that. Because the Bitcoin Transaction continues, there will be.

[mobnepal]

hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.

Total of 21 million bitcoin will be mined by 2140 so we might not be alive by that time. Bitcoin's price will be very high so that miners can be in profit even with just transaction fees and 0 block reward.

Bitcoin network is designed to run forever...

[St4yInTh3D4rk]

hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.

Total of 21 million bitcoin will be mined by 2140 so we might not be alive by that time. Bitcoin's price will be very high so that miners can be in profit even with just transaction fees and 0 block reward.

Bitcoin network is designed to run forever...

As you said the last bitcoin will be mined in the year 2140,still long way to go and at the time the price of bitcoin will be unimaginably high and the miners still have to be operated if all the bitcoins were mined to confirm the bitcoin transactions and the miner will get good rewards for the confirmation because even the fraction of a bitcoin worth a lot at that time.

[Sundark]

as i heard it will take decades. over that time price of BTC will be going up. when all 21 million bitcoins will be over i guess the bubble will blow up

[Sanchez747]

In my opinion, when all the bitcoins would be mined, their price will slowly grow up like price of finite minerals (gold, platinum etc.). But there is a problem: if now miners get fixed reward from the System, then this reward would be so little, that mining as it is now, won't be in demand. So, the only way of development when all the Bitcoins would be mined, is "large" transactions with large comission, because there is no other way of motivation for miners

[Asusnumbaone]

If all the bitcoin will all be mined, i guess its value will rise up. It will be popular because it can become the main source of the income. But now I guess bitcoin do not have an end. It has a beginning but do not have a definite end. Now miners can mine bitcoin, invest in bitcoin because we must use it well. We must be careful to our decision and do not panic if it's value drop below. Now we must think that bitcoin has an end but we must focus on it now.

[aardvark15]

hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.

Supposedly it will take until around the year 2140 before the last Bitcoin is mined. About 75% of Bitcoins have already been mined (under 17 million) so you can see that the mining difficulty is increasing over time. It will get to the point where less than a whole Bitcoin is mined every year. This is one reason why the value of Bitcoins should keep increasing over time as the number of Bitcoins mined every year keeps decreasing.

[simongoat]

The most direct and obvious consequence of such an event, of course, is that the miners will no longer receive rewards for mining, which is, despite the considerable slowdown in the process of calculating blocks, the main part of the financial attractiveness of mining. Miners will receive only commission for transactions, which for many of them may prove to be economically unprofitable, i.e., simply will not cover their costs. Then, theoretically, a mass outflow of miners and an avalanche-like reduction in the number of computers on which the global block-chef system is maintained and, as a result, the destruction of the entire network or its centralization in the hands of the few remaining, which is a nonsense for a real crypto currency, can begin. But this, I repeat, under the existing protocol, but it can be changed.

so bitcoins protocol has to be changed for its long term survival is that correct?

[Arindava]

if Bitcoin has run out in the mine it will be very expensive and it will be difficult to medaptkan it, I think Bitcoin if everyone wants to get it I do not know how much Bitcoin price will come and I can not imagine it..

[tulakill]

It takes at least 30 more years to dig up the number of bitcoins. At that time, a new solution was found for bitcoin. You do not need to worry too much. I think the world will have a plan for future bitcoins

[CoinFlippo]

That is an interesting questions there was a documentary on Netflix about how long it would take till everything is mined they said in 2040 it will all be mined after that no one knows what will happen i think satoshi will reveal itself after that happens.

[strocifer]

The complexity of transactions validation process will be so high by the time that it will literally consume a tremendous amount of electricity.
Nowadays it appears that the Bitcoin network already consumes 1/1000 th of the electricity worldwide. This is already huge compared to other currencies / other means of payments.
So this validation system will have to changed shortly in order to avoid an ecological disaster, by progressively increasing the size of the block or changing the validation method. That will decrease the value of BTC and the incentive to mine it. Else the system will blow up or will be banned by govs, and the BTC value will drop to 0. So I am not sure that all the 21 M bitcoins will eventually be mined...

[bitfocus]

It will take until the year 2140 to mine all the 21 million BTC. So, no worries. Also, BTC will remain a currency to trade - just like forex.

[honeyb0y]

Bitcoin will become more scarce and one of two things will happen:

• Bitcoin dies a slow death because nobody wants it anymore (unlikely)
• Bitcoin prices will skyrocket because it becomes scarce/limited.

When it will happen can't be predicted exactly. Depends on the miners and difficulty of mining.

How would mining all the coins will let bitcoin die if all coins are already circulating?
Once all bitcoins are mined it will be in the circulating at least or in someone else's wallet and miners will earn from the transaction fees that are charge on every transactions. And by the time all coins are mined which is approx. 2140 transactions are enormous and fees can compensate the bitcoins that you can get from mining.

[coinycoiny]

It's estimated that the electrical power needed to confirm one transaction is enough to power the average house for a day. This is fine when miners are getting free coins which they can sell for $6k.

As mining drys up the costs will have to be passed on to users in the form of transaction fees, this is already happening in part.

So, look forward to $5 transaction fees.

Bitcoin is doomed.

[Zekemporium]

As total 21 millions of bitcoins that can be mined in total, ones miners have unlocked these all bitcoins, supply will stopped. Unless otherwise bitcoins protocol changed to allow for larger supply.
Ones bitcoins supply reached to 21 millions, miners will be forced away from the block rewards they receive for there work. Then miners may need to rely on transaction fees in order to maintain operation.

[strocifer]

The most direct and obvious consequence of such an event, of course, is that the miners will no longer receive rewards for mining, which is, despite the considerable slowdown in the process of calculating blocks, the main part of the financial attractiveness of mining. Miners will receive only commission for transactions, which for many of them may prove to be economically unprofitable, i.e., simply will not cover their costs. Then, theoretically, a mass outflow of miners and an avalanche-like reduction in the number of computers on which the global block-chef system is maintained and, as a result, the destruction of the entire network or its centralization in the hands of the few remaining, which is a nonsense for a real crypto currency, can begin. But this, I repeat, under the existing protocol, but it can be changed.

Can the protocol be changed actually? Who can? Just asking 'cause i was wondering if it's possible...

[Thaalbi]

hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.

I believe i need at least 4 to 5 to exploit everything, the price will increase.