It's 2040, the last bitcoin was just mined...

[Spendulus]

What might the miners do at this junction?

Sure, they still get transaction fees. Would those escalate?

Might there be a reason to move to non-ASIC hardware?

Or a reason to change the reward algorithm?

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[OmegaStarScream]

It should be around May 2140 and not 2040. Why there will be a need to do any of these things you mentioned though? I'm pretty sure the transactions fees will be more than sufficient because by no longer having block reward, the supply will be pretty limited and that should give the price a huge boost.

[Spendulus]

It should be around May 2140 and not 2040. Why there will be a need to do any of these things you mentioned though? I'm pretty sure the transactions fees will be more than sufficient because by no longer having block reward, the supply will be pretty limited and that should give the price a huge boost.

Oh, I'm off by 100 years! My bad...should have examined the elliptic curve and the exponential halving before posting.

[NeuroticFish]

Sure, they still get transaction fees. Would those escalate?

Yep, it's 2140 and it's expected that the rise of the price will make the fees cover the mining costs and also give some profit.
I don't expect a change in the algo in the future, it could weaken the coin. But we cannot know what will happen in so much time, the technology will advance a lot...

[Kopyleft]

There would be no way to change the reward algorithm as there would be no more minable bitcoin available to serve as incentive for miners. The bitcoin protocol is built on immutabilty, and this builds trust, any change in the system would not be a welcome development.

Transactions fees would have to be modified to serve as reward enough and still make it profitable to confirm transactions.

[BitcoinGirl.Club]

...the supply will be pretty limited and that should give the price a huge boost.

I am wondering what will be the price value? Will there be any fiat left by that time? Interesting future.

[dothebeats]

It comes down to bitcoin having a high price resulting into the tx fees included in a block being a sufficient reward for the miners or a change in a less-aggressive, less power-hungry algorithm. PoW would still be the king for security, but then again you have the escalating problem for energy consumption especially since the difficulty increases over time, so some tweaks on the algorithm would do that could substantially reduce the amount of power needed to mine bitcoins without compromising the 'fairness' and security of the system.

But honestly, the options are too vague at this point, and it's quite hard to think of such problems when there are even bigger problems ahead of us, i.e. if we will still exist by that time.

[BitcoinGirl.Club]

It's foolish to even think is today's terms.

I guess you killed all the fun of this topic here 

[coolcoinz]

If we continue along the uptrend line, in 100 years Bitcoin will be worth more than 1 million dollars. If not due to the fact that there's not enough coins for people of a middle size European country to own one, but also because inflation will have made USD worthless by then. Remember that 100 years ago people in the US were earning $10 a week, on the average. Nowadays $10 per hour is a low wage and this isn't going to stop. In 100 years, when Bitcoin mining will be coming to an end, people will have have to think of a way to make transactions confirm and nodes running. Maybe with crowdfunding? Maybe by increasing fees? Whatever happens, it will still be better than paying 1k USD for a pack of cigs.

[PsylockReborn]

What might the miners do at this junction?

Obviously there's nothing more to mine, most of them will put a stop to their mining rig.

Might there be a reason to move to non-ASIC hardware?

You just stated the reason, there's no more coins to be mined so no more profit.

Or a reason to change the reward algorithm?

I doubt that this will happen. During 2140, the transaction itself will be scarce. Fees will skyrocket.

I'm pretty sure by this moment in time there will be new technologies that will arise which will be better than bitcoin. We may not be present during those times but I'm positive that the future generation will come up with a better invention that could replace bitcoin as the number one crypto.

[Asian_Dynasty]

What might the miners do at this junction?

Sure, they still get transaction fees. Would those escalate?

Might there be a reason to move to non-ASIC hardware?

Or a reason to change the reward algorithm?

I think bitcoin will not live so long. It is just a pioneer. Now and in future will be cryptocurrencies which really need in real world and solve huge problems.

[RussaX]

By 2140 Bitcoin might not exist anymore. You can't even imagine how advanced technology will be. Bitcoin is great as it is of now but surely there will be even better technology in upcoming years.

[Peacemaker1994]

Is there a particular year when bitcoin would no longer be mined what if all the bitcoin would be mined all before that stated time. Would there be renewed bitcoin available for mining?

[o_e_l_e_o]

Don't forget the number of coins that will best lost forever in the next 120 years. Estimates are that we have lost 4 million coins so far, or 20% of the maximum supply, in under 10 years. Now obviously people were careless in the early days so the rate of loss will drastically reduce, but we still have to factor in 120 years of hardware failure, forgetting passwords, losing seeds, or simply dying without telling others how to access their coins. I don't think it is unreasonable to expect by 2140 that somewhere in the region of 40-50% of bitcoins may be lost forever, which will obviously have a huge impact on the price, if bitcoin still exists.

[Naficopa]

It is possible that there will be no such problem. Technology is moving forward so fast, that in a few years can be created something like "MegaBitcoin" and all miners will move to the mining a new coin. In time, only a small group of fanatics will deal with the mining of Bitcoin. Problem solved 

[Pab]

Don't forget that technology is booming
It will be technology for more efficient mining
So it will be faster
Will be also more pressure on energy saving
It will be more and more warm
It is problem what need to be solved
As for now i will be happy of btc sidechain launch

[Pab]

It is possible that there will be no such problem. Technology is moving forward so fast, that in a few years can be created something like "MegaBitcoin" and all miners will move to the mining a new coin. In time, only a small group of fanatics will deal with the mining of Bitcoin. Problem solved 

and we will have yet another btc shitcoin that time mega shitcoin

[squatter]

What might the miners do at this junction?

Sure, they still get transaction fees. Would those escalate?

Assuming the block size remains limited, fees should escalate over the same time that the subsidy drops. Hopefully, fees rise to an extent that miners continue to secure the chain without drastic drops in hash rate.

If the economic design looks to be failing, I'm sure we'll see it reflected in the hash rate long before the last coin is mined.

Or a reason to change the reward algorithm?

That's always a possibility, but I'm hoping the fee market created by limited block size will prevent the need for that.

[hatshepsut93]

What might the miners do at this junction?

Sure, they still get transaction fees. Would those escalate?

Might there be a reason to move to non-ASIC hardware?

Or a reason to change the reward algorithm?

Fees rise when there's a big transaction backlog. Since their price is dictated by a market, there's no reason to think that decreasing block rewards will affect them, because it won't change anything with blockspace supply/demand.

There's absolutely no difference what sort of hardware is required, mining is about converting electricity into hashpower.

There's no reason to think about changing the reward algorithm, we haven't yet seen what is going to happen when network rewards will become low. Maybe there's no reason to worry at all because the hashpower will remain sufficient to deter any potential attacks.

[NickkiJonathan]

i think bitcoin will jump at the new year

[BuyBuyBitcoin]

In 2100 someone will probably start a new blockchain of the same bitcoin protocol.

This bitcoin2.0 would be valued at $0-1 for the first coins mined. It is the SAME protocol and security though that the existing chain uses.

People holding bitcoin for the next 40 years will have time to move onto the new bitcoin blockchain or keep their coins on the current blockchain.

There will still be miners getting fee's on the existing chain, just not as many obviously.

[levvv]

What might the miners do at this junction?

Sure, they still get transaction fees. Would those escalate?

Might there be a reason to move to non-ASIC hardware?

Or a reason to change the reward algorithm?

It is still far from 2040, peoples still mining bitcoin and get a decent reward in bitcoin.
Later, bitcoin mining reward will be lower than now and resulting the price to rising in the market.
I don't think bitcoin developer and community want to change their algorithm because they will bring much loss to ASIC companies.

[Morgania]

in my opinion. we don't need to wait that time. next year is a good time to rise

[mahilchii]

It is possible that there will be no such problem. Technology is moving forward so fast, that in a few years can be created something like "MegaBitcoin" and all miners will move to the mining a new coin. In time, only a small group of fanatics will deal with the mining of Bitcoin. Problem solved 

Yes exactly the entire Atmosphere will be changed and crypto will be open to the public in the entire world. Technology will dominate everything as humans are insane sometimes. Just imagine where the price of 1btc will be.

[nicster551]

What might the miners do at this junction?

Sure, they still get transaction fees. Would those escalate?

Might there be a reason to move to non-ASIC hardware?

Or a reason to change the reward algorithm?

I think when that happens only some miners would be left to do it like those big companies and I think a lot of people will start to use Bitcoin and that would be enough for the miners.

[sorrysteve1]

It's not something that is going to happen over night. The block reward is going to decrease gradually and so miners and the market will have plenty of time to adapt to that. What's likely is that the fees received per block will gradually increase over time as the block reward falls, keeping a relative parity to mining cost.

[Indamuck]

The world will be so different in 2140, I doubt bitcoin will even exist at that point.  I'll be shocked if the world hasn't already been destroyed by a nuclear war or some other type of disaster.  The beauty of bitcoin is that it can be broken down into many decimal places so if bitcoin is worth $1million we can just use smaller units for our transactions.

[ardhigalau]

It's a shame, you are a Legendary but you mispronounced the year. It should be in the year 2140 not 2040. Come on, don't mislead members here.

[nianastasia62]

You may not be aware but after 1.5 years in the bitcoin network will be half the reward and this will happen quite often so as I read the mining will stop in 2140.

[MainIbem]

...the supply will be pretty limited and that should give the price a huge boost.

I am wondering what will be the price value? Will there be any fiat left by that time? Interesting future.

By 2140 I'm sure paper money will be gone everywhere, all the mines will be on the moon and heating everything by crypto heat which run off 99% efficient solar panels. Seriously though think of the tech gap from now and 120 years ago. It's foolish to even think is today's terms.

For sure, the OP did this post out of excitement. We are just imagining how things will be in 120 years from now! Think back 120 years ago and you will not expect anyone thinking about computers not to talk of the internet, then virtual money.

[martina14]

Every year the number of bitcoins minable is reducing.
This will let the miners stay if the price of bitcoin will increase yearly.
But how if the BTC mining will not be profitable? or lets say we can transfer even without any miner in the community?

[gabmen]

...the supply will be pretty limited and that should give the price a huge boost.

I am wondering what will be the price value? Will there be any fiat left by that time? Interesting future.

By 2140 I'm sure paper money will be gone everywhere, all the mines will be on the moon and heating everything by crypto heat which run off 99% efficient solar panels. Seriously though think of the tech gap from now and 120 years ago. It's foolish to even think is today's terms.

For sure, the OP did this post out of excitement. We are just imagining how things will be in 120 years from now! Think back 120 years ago and you will not expect anyone thinking about computers not to talk of the internet, then virtual money.

We're all probably dead by then so there' no wsy for us to really know lol. Though i doubt that it's a futuristic as you guys perceive it to be. If we don't do something about climate change, we may very well be living closer to how we live in the past than in a progressive future.

[pat4cryptoreal]

By that time there will be global adoption, in other words the number of people or organizations that owns bitcoin will be much so there will be enough transactions for miners to make money through transaction fee.

[BitcoinGirl.Club]

We're all probably dead by then so there' no wsy for us to really know lol.

What do you mean probably? LOL

Are you expecting to live more 120 years from now (assuming your age is x now)? x+120 and that's a lot of years which is enough for your third generation down the line. You and I will be very much forgotten unless we do something people will remember (example: satoshi creating bitcoin).

[Schirer]

On what exactly is based your prediction that last BTC would be mined on this exact year?
I see it differently, i thin kthat the price will rise once a again to new ATH and then the hashrate will rise also, which will lead to slower mining.

[Oniko]

I think that the complexity of the network will increase by several times and this date will be moved to 2100.

The cost of bitcoin will grow and in 2020 the price will reach $ 10,000. Bulls go to battle

[Lucius]

Regardless of the mistake of one hundred years, OP did not get too far off from point that 2040 all BTC will be mined. Not total 100%, but 99.80 which is almost all coins. We are now at around 87.50% of all coins mined, and by 2032 over 99% of all BTC will be mined - so 0.20 BTC left from 2040 means nothing.

Miners will have to adapt and earn from fees, and if BTC becomes a globally accepted payment instrument then number of transaction will increase, which will make a stable profit for miners.

[aoluain]

...the supply will be pretty limited and that should give the price a huge boost.

I am wondering what will be the price value? Will there be any fiat left by that time? Interesting future.

By 2140 I'm sure paper money will be gone everywhere, all the mines will be on the moon and heating everything by crypto heat which run off 99% efficient solar panels. Seriously though think of the tech gap from now and 120 years ago. It's foolish to even think is today's terms.

That's what I was thinking, we cant even predict what will happen
next year let alone another 120.

If we look at how far technology has come since computers became
a household item in the 80's, those old Amiga's and Commodore
VIC-20's have become so archaic in 30 years, actually that technology
had become so archaic 10 years on.

So many Developments to Bitcoin and technology will happen in 120
years, we wont be here when the final coin is mined.

[pussyhunter6969]

What might the miners do at this junction?

Sure, they still get transaction fees. Would those escalate?

Might there be a reason to move to non-ASIC hardware?

Or a reason to change the reward algorithm?

there could be proposal to redistribute old lost coins, like any coins stuck for 120 years ( more then average life span of human ) in a wallet should be redistributed as block reward

[TiredShoe5]

I think in the near future this type of activity will become irrelevant.

[cryptoJJJ]

Last bitcoin will be mined in 2140 not 2040, after this point the miners will have to live from the transactions fees, and they will most likely also live from bitcoin side blockchains.

[KingScorpio]

What might the miners do at this junction?

Sure, they still get transaction fees. Would those escalate?

Might there be a reason to move to non-ASIC hardware?

Or a reason to change the reward algorithm?

there could be proposal to redistribute old lost coins, like any coins stuck for 120 years ( more then average life span of human ) in a wallet should be redistributed as block reward

and what if someone wants to bury a treasure for his future family member after 120 or more years?

you steal his "bitcoin" and limit therefore freedom over his property

[karsy]

It will be in 2140. I think before this date the reward system will be updated. Bitcoin should cost very high so it would be profitable for miners to stay in bitcoin and process transactions with their ASIC miners.

[squatter]

Miners will have to adapt and earn from fees, and if BTC becomes a globally accepted payment instrument then number of transaction will increase, which will make a stable profit for miners.

It's not just miners who will have to adapt. Users will need to adapt to paying higher fees. This is a really important part of Bitcoin's design. We can't guarantee endless transaction growth, so we need to depend on scarcity of block space to force fees higher.

As long as demand is strong enough for perpetually full blocks, I'm confident the mining incentive can still work after inflation is done. This is an even more important reason to retain the block size limit than node or miner centralization.

[cryptjh]

One idea to pay the miners after 2140 would be a very small annual tax on so called dead Bitcoins. Bitcoins that haven’t moved for more than 130 years cut be forces to pay a very small annual fee. The Bitcoin would in all cases be considered lost, so taking less than 0.01% a year  from Bitcoins addresses that are considered lost, would help the Bitcoin system go on for thousands of years or more.

[abojamal]

What might the miners do at this junction?

Sure, they still get transaction fees. Would those escalate?

Might there be a reason to move to non-ASIC hardware?

Or a reason to change the reward algorithm?

I think the correct date is 2140 rather than 2040
With the low supply of BTC for mining the price will be very high
This is a market rule
supply and demand base.