What happens when the last bitcoin has been mined? [Year 2140]

[aalfadhala]

So I was reading an article about the future of Bitcoin, trying to understand what will happen when the last bitcoin has been mined (from a technical perspective).

https://coinlu.com/what-is-the-future-of-bitcoin/


So if we do the math, the last Bitcoin should be mined sometime in the year 2140 - all of us will be dead by then.
However, what do you think will happen and what can we compare the event too?

 

[1714290008]

1714290008

[1714290008]

1714290008

[Luke_Turner]

There's a time limit as to how long bitcoin should be mined? I didn't know. And why would we be dead? I hope this is not true, because bitcoin has helped so many people, and if the currency dies, a lot of people will probably have a hard time adjusting to the old ways.

[aalfadhala]

There's a time limit as to how long bitcoin should be mined? I didn't know. And why would we be dead? I hope this is not true, because bitcoin has helped so many people, and if the currency dies, a lot of people will probably have a hard time adjusting to the old ways.

Yes, You won't be able to mine as the limit supply is 21 million bitcoins



If you're 20 years old now, by 2140, you will most probably be dead 

[PipeMaddox]

Well, if you count it in that way, that might be the end of bitcoin. But the idea of bitcoin is exemplary, it won't be diminished that easily. Many will come by the time you've predicted.

[RileyPeterson]

I don't think so. I hope this is not true. Because Bitcoin has helped so many people and if the currency dies,a lot of people will probably have a hard time adjusting to the old ways.

[mk4]

Well, if you count it in that way, that might be the end of bitcoin. But the idea of bitcoin is exemplary, it won't be diminished that easily. Many will come by the time you've predicted.

I don't think so. I hope this is not true. Because Bitcoin has helped so many people and if the currency dies,a lot of people will probably have a hard time adjusting to the old ways.

Why would it be the end of bitcoin? After the last bitcoin has been mined, miners can still earn bitcoin through transaction fees. I'm pretty sure Satoshi wouldn't design bitcoin to be scarce if it would die after the last coin has been mined. It was made scarce in purpose to be deflationary.

[lewyer]

By that time there will be no bitcoin. Bitcoin will be less valued as some other crypto will emerge.

[cellard]

There are some people that question the idea that mining fees will be enough to keep the mining incentives system intact and argue that without the mining reward there will be problems. I don't really see how... as long as there's the opportunity to make money mining bitcoin, there will be people doing it. The "if you aren't doing it someone else will find profit" scheme still applies with or without mining reward as difficulty is adjusted according, and by 2140 BTC should be interplanetary currency anyway, it will be as desired as ever.

[JuneTaro]

It's fun. Just care about bitcoin mining in the next years. i'm sure you can not live until 2140 to see the last bitcoin mined. I think it is really hard to mine all the bitcoin. Just my opinion.

[lionheart78]

So I was reading an article about the future of Bitcoin, trying to understand what will happen when the last bitcoin has been mined (from a technical perspective).

https://coinlu.com/what-is-the-future-of-bitcoin/


So if we do the math, the last Bitcoin should be mined sometime in the year 2140 - all of us will be dead by then.
However, what do you think will happen and what can we compare the event too?

 

If the last bitcoin is mined, the mining of Bitcoin still continues.  Remember everytime we make a transaction, we payed for a transaction fees, that will be the next reward for the miners.  They will be mining transaction fees as a reward.  It is speculated that by that time, bitcoin will be mass adopted that it is possible that a single block containing tx fees of transactions is worthy of mining.

[MrCrank]

My opinion that price will be "moon".
Also Year 2140 is approximately date.
Because power of miners rising every day and may be created powerful miner.

[Mickie James]

In theory by that time if the last Bitcoin is mined there will probably be a coin that was in line to come up at the top in that aspect as we'd see this new coin be the new Bitcoin in terms of minability and value. But by 2140 who knows if there's something that tops cryptocurrency? we never thought we'd see cryptocurrency as a possibility until 2009. The reason why speculating about the potential of what would be is something not really worth the trouble. There might be advancements that even make this obsolete, who knows?

[Dexter Mills]

Once, the last of the Bitcoin has been mined, the market will take a sharp turn. The supply of the Bitcoin will be limited while the demand will continue to rise. As a result, the price will go up.

[Babyrica0226]

So I was reading an article about the future of Bitcoin, trying to understand what will happen when the last bitcoin has been mined (from a technical perspective).

https://coinlu.com/what-is-the-future-of-bitcoin/


So if we do the math, the last Bitcoin should be mined sometime in the year 2140 - all of us will be dead by then.
However, what do you think will happen and what can we compare the event too?

 

Do you think that would really be happen? Perhaps, there is no people here in the forum who is a time traveler?  Because, none of us here in this field of business knows what will happen in the future. But it could be that Bitcoin can become a world currency someday due to its potentiality and capability.

[Argoo]

Once, the last of the Bitcoin has been mined, the market will take a sharp turn. The supply of the Bitcoin will be limited while the demand will continue to rise. As a result, the price will go up.

Of course, nothing special will happen if the last bitcoin is extracted. What should or can happen? What will happen is that in a hundred and twenty years no one will need Bitcoin in this state. By that time, the cryptocurrency has completely changed. The question is whether Bitcoin will change by then and what it will be. Of course, we will not know.

[rabinot]

it seems to me that the mining will not die after the last bitcoin has been mined because the miners will be paid for more transactions in the network

[liuqi]

I think after 5 years it will be completely mined so demand is the only role of future market. All the cryptocurrencies are follow the Bitcoin way so most of the altcoins are move to critical stage in future because of legalisation of Bitcoin. Slowly each countries has decide the Bitcoin legalisation so positive result is possible in forever.

[oppasong]

certainly no one can predict how long bitcoin will run out in the mine, because the level of difficulty in mining bitcoin is very high which I think is the price of bitcoin in the year 2140 might just touch the highest price.

[livingfree]

I think after 5 years it will be completely mined so demand is the only role of future market.

Are you pointing to the 21 million supply of bitcoin? 5 years won't be enough and estimation of OP is correct. Its around 100+ years before all bitcoins will be mined. And when that time comes, miners will continue to mine if bitcoin is still there for confirming transactions.

Speculating something 100 years ahead is difficult but if bitcoin still has the floor by that time, people who are holding around 0.001BTC and above will become the new wealthy citizens of the world.

[dothebeats]

A hypothetical and rhetorical question. If the last of the 21 million bitcoin is mined by 2140, it's either the price of 1 bitcoin is too high for the miners to continue hashing or it the network wouldn't live to exhaust the supply due to petty geopolitical and economical issues (hi Trump, China and Russia!) We're going to incline on the safer side just to satisfy your question. If bitcoin lived up until 2140, it could be that it's due to the constant pouring of demand + price increases to motivate the miners to keep hashing. By then, bitcoin is regarded as the new gold and is an integral part of the world's economy. If not, then bitcoin might not even see the last coin to be mined since there's literally no incentive for the miners to do so + the cost of mining will surely outweigh their profit.