Bitcoin Forum
September 24, 2018, 04:28:15 PM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2] 3 »  All
  Print  
Author Topic: What happend 2140 all BTC are mined  (Read 236 times)
Gontxi
Sr. Member
****
Offline Offline

Activity: 630
Merit: 250


PlayGame.com


View Profile
May 03, 2018, 02:11:54 PM
 #21

What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?


I don't understand this question.
but what I think for you, the question is, are you still there in 2140? we will never know what will happen in the future. and until now bitcoin still has not reached its maximum supply, in other words can still be mined.

████████████████████████████
████████████████████████████
█████▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█████
█████                  █████
█████                  █████
█████      ▄▄▄▄▄▄      █████
█████      ██████      █████
█████      ██████      █████
▀▀▀▀▀      ▀▀▀▀▀▀      █████
                       █████
                       █████
▄▄▄▄▄      ▄▄▄▄▄▄▄▄▄▄▄▄█████
█████      █████████████████
█████      █████████████████
PLAYGAME.
▄█████▄
██▀ ▀██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██
██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██▄ ▄██
▀█████▀
.
▄█████▄
██▀ ▀██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██  ▄▄▄▄▄▄▄
██  ▀▀▀▀▀▀▀
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██▄ ▄██
▀█████▀
.
.
.
.
▄█████▄
██▀ ▀██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
▄▄▄▄▄▄▄  ██
▀▀▀▀▀▀▀  ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██▄ ▄██
▀█████▀
.
▄█████▄
██▀ ▀██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
 ██
 ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██   ██
██▄ ▄██
▀█████▀
Medium
Twitter
YouTube
1537806495
Hero Member
*
Offline Offline

Posts: 1537806495

View Profile Personal Message (Offline)

Ignore
1537806495
Reply with quote  #2

1537806495
Report to moderator
1537806495
Hero Member
*
Offline Offline

Posts: 1537806495

View Profile Personal Message (Offline)

Ignore
1537806495
Reply with quote  #2

1537806495
Report to moderator
1537806495
Hero Member
*
Offline Offline

Posts: 1537806495

View Profile Personal Message (Offline)

Ignore
1537806495
Reply with quote  #2

1537806495
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Corsicoin
Full Member
***
Offline Offline

Activity: 364
Merit: 105


“Create Your Decentralized Life”


View Profile WWW
May 03, 2018, 02:16:26 PM
 #22

This won't be any of your priority I guess.
If it's on a curiosity purpose, you can count on a POS switch!

werner52911
Full Member
***
Offline Offline

Activity: 381
Merit: 139



View Profile
May 03, 2018, 10:22:42 PM
 #23

@ballexplorer: A good question is: If many people have to think about it.
I too have thought about it, even if it is still a long way off.

But after all, it is also a question of the conception of the BTC and therefore the question is justified.
With our current understanding of the BTC Blockchain, there will still be blocks in many years to be entered in the transactions and confirmed.
There will then be transaction fees for the miners.

@batang_bitcoin: Thanks for the link
@amishmanish: I like your thoughts on distribution and decentralization.

DeepOnion    ▬▬  Anonymous and Untraceable  ▬▬    ENJOY YOUR PRIVACY  •  JOIN DEEPONION
▐▐▐▐▐▐▐▐   ANN  Whitepaper  Facebook  Twitter  Telegram  Discord    ▌▌▌▌▌▌▌▌
Get $ONION  (✔Cryptopia  ✔KuCoin)  |  VoteCentral  Register NOW!  |  Download DeepOnion
kaneeda
Newbie
*
Offline Offline

Activity: 15
Merit: 0


View Profile
May 03, 2018, 11:01:00 PM
 #24

Or maybe quantum computing will mine all before 2038
Raggie
Member
**
Offline Offline

Activity: 350
Merit: 10

SECURIX.IO


View Profile
May 04, 2018, 03:58:07 AM
 #25

What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?

well, if many peoples still use bitcoin, then bitcoin price will more spiking at that time because bitcoin circulation cannot increased anymore.
bitcoin demands can increase, but bitcoin supply cannot increase. resulting a very expensive price in coin.

batang_bitcoin
Hero Member
*****
Offline Offline

Activity: 924
Merit: 523

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
May 04, 2018, 07:12:47 AM
 #26

Miners will still do the job and they will now mine to confirm transactions and they'll earn through the tx fees. Read these articles for better understanding.
[1]Will miners continue to mine bitcoin after that? [2]Will mining still be profitable? [3]Will miners used in mining evolve to consume less electricity and make mining profitable with fees in the future? [4]How will miners survive with tx fees? I doubt miners will still do the job if these questions are still questioned 50 years from now. I also think that instead of earning through tx fees alone, there would be methods invented to make mining profitable again before all bitcoins are mined in 2140.
[1] Yes
[2] Yes
[3] We don't know what the future lies ahead.
[4] They are already surviving today so by that time they can still but we don't have to think about it anyway, it's a century before it happens.

@batang_bitcoin: Thanks for the link
You're welcome.

Barbut
Hero Member
*****
Offline Offline

Activity: 952
Merit: 501


🔷 BLINKED 🔷


View Profile
May 04, 2018, 07:24:28 AM
 #27

Or maybe quantum computing will mine all before 2038
Maybe, technology is advancing with great speed. I think nobody can`t claim nothing at this point, even until 2038 there is 20 years left, many things can happen in that time. What is interesting for me is how people are accepting bitcoin and blockchain technology I`m sure that the same will be with quantum computing, people first doubt in it, then they will test it, then so many lies will be spread how its used by criminals and terrorists, etc. So even if it comes in 2038 it will take years to be accepted.
About 2140 I don`t know what to say, why would we even think about that. Nobody from here now will not be alive in that time, how much we are destroying this country every year its a question will whole world exist in that time, bitcoin is irrelevant.

Kethek
Newbie
*
Offline Offline

Activity: 70
Merit: 0


View Profile
May 04, 2018, 07:56:16 AM
 #28

maybe in the year 2140 bitcoin has reached the limit of 21 million and can no longer in the mine bitcoin become scarce in the market and the price is very expensive $ 1,000,000 for 1 bitcoin Shocked
ballexplorer
Member
**
Offline Offline

Activity: 158
Merit: 10


View Profile
May 09, 2018, 06:25:54 AM
 #29

I would like to thank all users who posted their opinion in this Tread.
It is very interesting to read the different opinions.
fargoway
Newbie
*
Offline Offline

Activity: 165
Merit: 0


View Profile
May 09, 2018, 06:31:12 AM
 #30

It's too early to seriously guess what will happen after such long period of time. Paying attention that cryptoworld is a part of a real world and there might be significant changes - we simply cannot predict future of Bitcoin as it depends on a lot of things.
jhonnydeep87
Full Member
***
Offline Offline

Activity: 378
Merit: 100



View Profile
May 10, 2018, 06:50:48 PM
 #31

I know this will raise the price of bitcoin because of scarcity. I also agree with the fact that the majority of bitcoin is mined and the amount of transaction costs collected in the newly mined blocks will be enough to cover the payoff, will appeal to more views on this subject. Cool

◕  INGOTCOIN  ◕    ██  Twitter  ██      ██  Telegram  ██  ◕  INGOTCOIN  ◕
█████ BRIDGING MARKETS █████
AN ALL INCLUSIVE ECOSYSTEM
Mamoot
Member
**
Offline Offline

Activity: 252
Merit: 10

www.sponsy.org


View Profile WWW
May 10, 2018, 08:34:29 PM
 #32

What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?

There are 2 first arguments, some say that miners will be forced away from the rewards of the blocks they receive for their work once the supply of Bitcoin has reached 21 million. In this case, these miners may need to rely on transaction costs to maintain their operations. Miners will then find inaccessible processes, leading to miners being depleted, the Bitcoin network concentration process, and many of the negative effects that occur on the Bitcoin system, transaction costs alone will not be enough to keep Bitcoin miners financially dissolved once the mining process is over.
On the other hand, there is reason to believe that transaction costs and mining costs will actually increase in the future. The mining chip will be small and very efficient. This will reduce the burden placed on the miners and allow mining to be activities that have lower initial cost. And transaction costs can increase, so this can help miners to stay afloat.

SPONSY • DECENTRALIZING SPONSORSHIP INDUSTRY  
▎Big merek bergabung! • Penjualan Pribadi Aktif! ▎ [/ center]
9jaflick
Sr. Member
****
Offline Offline

Activity: 714
Merit: 254


I serve a living God


View Profile
May 10, 2018, 10:16:30 PM
 #33

What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?
miners will still be around, it just that there won't be block-rewards for miners anymore, only tx reward ( transaction fee reward ).

  ETERNAL
 TRUSTS

█▀▀▀▀▀▀█
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█▄▄▄▄▄▄█
A Dream That Is Destined To Succeed 
   Presale starts on March 22, 2018       Get a 50% discount right now 

█▀▀▀▀▀▀█
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█▄▄▄▄▄▄█
◆ Facebook
◆Twitter   
◆Telegram  

◆AnnThread  
EEEian
Full Member
***
Offline Offline

Activity: 259
Merit: 100



View Profile
May 10, 2018, 10:19:44 PM
 #34

Is there something I'm not getting here.When there is no more bitcoins to mine,how are you going to create any more blocks in the chain?
If I understood the payment system correctly, more blocks have to be generated in order to verify the correctness of all payments.But as we approach the last bitcoins to be mined the number of hashes required to find a block will approach inifinity.When all the bitcoins have been mined you will have the equivalent of division by 0?
Joyeeta
Jr. Member
*
Offline Offline

Activity: 152
Merit: 3


View Profile
May 10, 2018, 10:20:23 PM
 #35

It will mean Bitcoin price will sky rocket due to less supply as more and more people will want to have a piece of bitcoin. It will be very rare coin and will be hard to get.

FuzeX
FUTURE PAYMENT | CRYPTOPAY | SIMPLE . SECURE . CLEVER (https://fuzex.co)
forumsehat
Newbie
*
Offline Offline

Activity: 123
Merit: 0


View Profile
May 10, 2018, 11:03:29 PM
 #36

Most people do not know what will happen after the bitcoin runs out at the mine which is estimated to be exhausted by 2140, and we certainly will not live that time of year, but I think it will run automatically in confirmation.
FurDich
Member
**
Offline Offline

Activity: 183
Merit: 10

DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO


View Profile
May 16, 2018, 01:50:07 PM
 #37

What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?
What a long years my friend.I dont know whats happening in that stage of crypto currency when its high or low.But for now i will focused on what I can do to expand my profits.

biksa
Newbie
*
Offline Offline

Activity: 224
Merit: 0


View Profile WWW
May 16, 2018, 02:22:13 PM
 #38

By 2140, we will no longer be alive, even our children will die too, so what's the difference with bitcoin? Smiley For a whole century with little, the world will change, not to mention the mining of bitcoin.
boksoon
Newbie
*
Offline Offline

Activity: 266
Merit: 0


View Profile
May 16, 2018, 02:30:53 PM
 #39

What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?

Very good question sir, you can just magine your country on where you belong have a lots of coins money or paper money why is it that sometime money on the floor are limited and minimal? that supposedly stocks circulated are volume Because of own machine to be use to create that kind of money, why they create a new volume of stocks?. That is also the future of bitcoin if all stocks are mined by miner. The founder of bitcoin which is until now he is unknown person, i think he will give an additional bitcoin for us without prior notice.
ballexplorer
Member
**
Offline Offline

Activity: 158
Merit: 10


View Profile
May 22, 2018, 11:14:05 AM
 #40

I found an interesting article on BTC-Echo on this topic.
Below the link
It´s in german languages

https://www.btc-echo.de/was-passiert-wenn-der-letzte-bitcoin-gemined-ist/
Pages: « 1 [2] 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!