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

[kryptqnick]

The rate at which Bitcoin consumes power isn’t even sustainable now. So in 50 years, something will have changed, or Bitcoin will have ceased to exist.

That's a little harsh. Bitcoin mining takes as much electricity as a small country, but the reason for mining being to hard it strong competition. And I don't think this problem is big enough for bitcoin to stop existing.

It may even be that they decide to completely outlaw Bitcoin in their countries and go down the route of government-issued cryptocurrencies.

Outlawing bitcoin and other top cryptocurrencies means not only making millions of people angry, but involves a high risk of underground economy that will have more negative effects on national economies than some regulations making usage of bitcoin 100% legit.

In general, I think this article is just  too negative about btc and its future.

[seoincorporation]

from a technical perspective...

After the last bitcoin get mined, once each new block gets confirmed miners will only get their income from the transaction fees and not from the block reward this will become zero.

With time will be less bitcoins moving, because the bad practices and ignorance will make bitcoins get lost.

And the blockchain will be enormous, if now days already have a weight of 200GB, when the last BTC get mined then the rolling snowball (Blockchain) will be bigger.

And that's my technical perspective.

[tikaka]

I think the bosses of the bitcoin mining companies would be really rich at the time. Difficulties in bitcoin mining are high as the amount of bitcoin mined gradually decreases. So I think bitcoin will have a very great price at that time.

[maianh09]

When Bitcoin is fully exploited, I believe the bitcoin price will rise sharply as there is no supply for it. Bitcoins cannot be made extra, the amount reaches the limit, and the demand for possession is so high it will make it grow fast.

[aalfadhala]

from a technical perspective...

After the last bitcoin get mined, once each new block gets confirmed miners will only get their income from the transaction fees and not from the block reward this will become zero.

With time will be less bitcoins moving, because the bad practices and ignorance will make bitcoins get lost.

And the blockchain will be enormous, if now days already have a weight of 200GB, when the last BTC get mined then the rolling snowball (Blockchain) will be bigger.

And that's my technical perspective.

Thank you for your insights, very helpful!

[H1N1]

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?

 

I don't know either, maybe bitcoin will be unable to be mined by miners. But if that happening, the price of bitcoin will increasing overtime because the circulation supply will not adding anymore and become limited. If the demands of bitcoin keep increasing, the price of bitcoin can sky rocketing.

[Hivalley]

I do not think it'll have an adverse effect on the bitcoin,yeah miners would not earn bitcoins for solving puzzles anymore,they will simply fall back on transaction fees..

And 2140 is a long period of time, so many features might be created by then,and the last bitcoin mined might not even matter to the system

As you said we might all be dead,i think posterity would have to wait to decide what will happen by then

[tegarp90]

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?

 

I think there are more supply from it's hardfork like BCH or other bitcoin child.
So, people still keep mining but not mine bitcoin

[marinama]

How will bitcoin get confirm after last block mined? Same way as today? Miner will still mine at higher difficulty and take only miner fee? Or difficulty will go lower?

[iqlimasyadiqa]

When more people do mining on Bitcoin then of course that will make bitcoin reach the target faster and bitcoin will run out. When Bitcoin has been mined, I am very confident that Bitcoin will experience a significant price increase. When Bitcoin is increasingly sought after by many people and supply has been fulfilled, more and more people will be interested and that will make the price of Bitcoin automatically increase.

Bitcoin is a financial system in the future, so therefore start investing in Bitcoin from now on and we will get many opportunities to make a profit.

[Diced90]

There's two way this scenario could look like. The first scenario, if the last coin was mined than there will be a massive price surge. The second is another technological breakthrough which could either lead to mining of more coins or the erasion of BTC completely for the next BTC generation?

[Kokoy]

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 agree with this, people will definitely create various modifications to keep Bitcoin running in the market. And given that Bitcoin is being use by the mass, we can say that the stability must always be observe so we can prevent future threat that may end up eradicating this community.

[kelaxo76r]

Mining charges should increment with the end goal to boost miners to continue with their essential work – without them the system would fall and Bitcoin would wind up useless and unusable without any transactions being checked. Newer mining hardware is likewise the appropriate answer to this potential issue.

[Buttermellow]

It will not going to happen. The mined bitcoin has only a little bit of percentage to the actual numbers of bitcoin. Besides, the bitcoin supply is fix which is 21 Million bitcoins. The mined bitcoin will then be the reason to go bitcoin market price higher especially if they will not spend bitcoin and just hoarding it. Miners will able to see it as an advantage for them because they can really earn more profit in holding bitcoin they mined. But, as what I have stated earlier that mined bitcoin has only a little percentage compared to the actual supply of bitcoin.

[petrcoin]

I can't guess what will happen in 10 years and you are asking what will happen 120 years later

I don't know, maybe a fork? I won't be living at that time so don't care.

[irsykes]

2140 my age will be more than 1 hundred, i think i wouldn't know what will happen if last mined in 2140, i will better focue what will happen with bitcoin in 1 or 2 years more because i hope it can get better soon.

[cfif123]

if in my opinion then someday if bitcoin has no inventory of coins then the price of bitcoin can definitely reach exorbitant, because if the bitcoin inventory gets less and less the price of bitcoin has become very expensive especially if there is no availability

[131tc01n]

Bitcoin prices will increase and bitcoin will be increasingly scarce, but behind that all the big fees will definitely increase too. People will use bitcoin more as trading and making transactions

[Teawhalee]

There really won't be a big deal.  After all is mined then we will have the exact circulation flowing and there will be great scarcity.  I believe by that time bitcoin would have been a real gem,  life term life changing asset. 

[aliceHortrex]

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?

 

I think that this will happen much faster, as the technology does not stand still and develop with a roll forward, like a snowball. What is being done today in a few minutes, was previously considered in principle impossible from a technical point of view. So for the use of bitcoin can not be afraid. And what the hell makes you think we'll be dead by 2040?)