if bitcoin can no longer be mined

[pixie85]

Most of us don't have to worry about it because Bitcoin will either be worth a lot of money or nothing before it's mined out completely.

Why don't we have to worry? After all, it's an investment and we should care about it. We don't just throw our money into bitcoin, at least for me.

I said not to worry about what will happen after all coins have been mined because it's going to take many years and you'll have more than enough time to rethink your investment by then.

You'll be out of it with a lot of money or a big loss I can tell you that already.

[jostorres]

Answering on the topic, miners would still continue to work since they're primarily needed  into the network on processing or pushing transactions and as said above they would instead increase up the fee for them to make money.

No need to increase the fee!

We are definitely going to mine out all the bitcoins one day (probably after ~150 years) and then still miners will continue their process of mining as usual. Why and how possible?

We need to consider two factors here : Price of one bitcoin and block size (or number of transaction going to happen every 10 min) after ~150 years.

Let's assume,
One bitcoin may value one billion dollar or at least 500 million dollar after 150 years and block size may remain same 1MB but segwit or anything similar enhancement may allow a block to carry some 10k number of transactions per block.

So, miners will get some 5X more fees than what they earn today and its worth may value  50,000X more than today (and block reward is obviously zero new bitcoins).

So, in rough calculations mining will be profitable at 250,000 more times than today.

So, I never think about miners to increase the tx fees or about stopping due to non-profitable after all 21 million bitcoins to be mined out.

[Lanatsa]

Haha. Lol. A lot of thread that was made already in forum. I just don't no why there is still existing a thread like this. It was already a topic even before. If there is no more bitcoin to be mined, the miners will decreases or be stagnant in their mining of btc. So, in order for them to be profitable they will increases the amount of fee for transaction. And probably, bitcoin price will increase.

Get used to it.

People do create topics as they want and too lazy on using that search bar thats why repetitive topics like this had been beaten for many times already.
On topic in talks about bitcoin can no longer be mined then we do all know that this one would really be into those years we almost dead and presuming
demand is higher since bitcoin do able to reach up that year.They would indeed make money on imposing bigger fees on pushing transactions into the
network, i dont think for any other reason beside this one.

[MicroGuy]

First of all you have to learn how mining works, what miners do etc. After all the BTC mined, bitcoin chain will be working as it is now; only mining rewards won't be there. Miners, instead of mining rewards, will get transaction fee only for confirming transactions.

Do you mean all the transaction fees from layer 2 where the vast majority of all transactions will be taking place?

[amishmanish]

First of all you have to learn how mining works, what miners do etc. After all the BTC mined, bitcoin chain will be working as it is now; only mining rewards won't be there. Miners, instead of mining rewards, will get transaction fee only for confirming transactions.

Do you mean all the transaction fees from layer 2 where the vast majority of all transactions will be taking place?

No. He means the transaction fees that will still be owed for the on-chain settlement transactions as well as the funding transactions. Not to forget the large payments that business entities will still prefer to be on-chain directly. Stop trolling Microguy and learn what LN is about.

To answer the OP, Why would the miners mine "Alts"? The mining reward will remain sufficient to be more than any other existing cryptocurrencies for decades from now. By that time, what is hoped that all of these money grabs and vaporware operating in the name of ICOs etc will actually come to realize that bitcoin is sufficient for all such applications. There are interesting concepts like Sidechains and Simplicity for smart-contracting that are in the works. There is merge-mining. Nobody has to worry about what miners will do for another few decades. By then, we would have either matured enough to have a crypto-ecosystem backed by and running on bitcoin or this all would just have been a glorious experiment.

[KrisAlex18]

This question has always been asking for so many times, sadly most of them do not know or just lazy enough just to use the search engine of this forum. Use the search engine before you arereated a topic because it will let you know if there is already existing topic as what you are thinking.

It would not be possible that all the 21 million bitcoin will be mined, imagine a 1 BTC is really hard to have how about 21 million and as of now bitcoin or other cruptocurrency is not well known to all countries in this world.

Take a look of this thread to find answers on your question: https://bitcointalk.org/index.php?topic=5191418.0

[fiulpro]

See the problem is miners still would have to use their software for Bitcoins to keep on working otherwise the whole system will crash .
When the whole Bitcoins is mined I do think the miners would be paid only by the people doing transactions.
We pay a little transaction fee usually and this is where it will go , Whosoever is involved in helping out with it will be paid using that and not many people will continue using the software to mine , so it will be distributed in a narrow range if people , enough to get them by .

[NavI_027]

It would not be possible that all the 21 million bitcoin will be mined, imagine a 1 BTC is really hard to have how about 21 million and as of now bitcoin or other cruptocurrency is not well known to all countries in this world.

It's not actually impossible, it only takes a very long time for us to do so. Twenty one million bitcoins could be all mined by the end of 2140 (just an estimated timeline tho). Anyway, there's no need for us to think of btc's depeletion simply because we surely not reach that far lol .

But going back to the topic, I only think of two possibilities when bitcoin's supply depleted:
1) It's price will soar even higher. Remember, the Law of Supply and Demand.
2) People will lose interest to it and switch to alt, most probably eth or bch (just my own opinion tho). And that lucky alt would be the new king .

[Latviand]

Most of us don't have to worry about it because Bitcoin will either be worth a lot of money or nothing before it's mined out completely.

Why don't we have to worry? After all, it's an investment and we should care about it. We don't just throw our money into bitcoin, at least for me.

Yes, probably! People will convert it into fiat before it is over for the bitcoin because they don't want it to become waster or maybe they sell it into a higher price. I know that there are some coins that will replace bitcoin after it was mined completely. and the price of bitcoin will really increased because of the higher demand. If that happens, we will sure look forward for another digital currency that will be the same as bitcoin, a good store of value and volatile. There are a lot of chances and coins that can replace bitcoin, possibly better than bitcoin. That's why when you invest in a certain coin, you should take it seriously and know how to manipulate it properly so that you will not have a hard time especially when you choose bitcoin as your investment.

[madhavsinghrajput]

Here we are talking about a work which will take decades to get complete so why to worry.Second miners is not just for mining bitcoin,they validate each transaction,provide security to the transaction as without miners the block chain network might get attack and can be dysfunctional.Soo the role of miners is very essential and it will be until very end.

[Haunebu]

People will lose interest to it and switch to alt, most probably eth or bch (just my own opinion tho). And that lucky alt would be the new king .

BCH? Lol. No freaking way. Also, even if all BTC were mined, it does not automatically imply that people will lost interest just like that and switch to alternate currencies after mining it for so many years.

Instead, BTC will probably be used as an alternate payment method by people around the world enhancing its popularity and maintaining high interest levels worldwide.

[royalfestus]

Mining will stop in over 100 years from now, which you may not be around. It is believed that mining serves other purpose in transaction asides the production of bitcoin. I find it very hard to believe bitcoin will keep the motivation and interest when the mining ends, it is assumed that bitcoin will be over $1 million at a point but my significant exit in fiat is short time, am just scared of the government by then. Will they ever want a virtual space that worth the whole GDP of the world? it can disrupt the world economy and government may be scared of what such fund can do without control? Some people predict Ethereum to be leading in this market to bullrun, I observe more new coins using Ethereum as yardstick than bitcoin recently

[Rengga Jati]

I think that you have got many answers from the other members here, better to use the search feature in order to get early information about whatever here in this forum.

In every article it is mentioned that bitcoin is only 21Million BTC to be mined.

Yeah, it Is only 21M  BTC. There will be no additional supply, it has been fixed that BTC is limited. However, never worry about it when you are going to mine. The last BTC to be mined maybe next 100 and more years. And at that time, we all here right now may be no longer live. So, better to focus on what we are doing right now in the crypto world.

Are miners going to mine alt?

We do not have any idea about it because it will happen in next hundred years probably. So, we do not know whether this crypto will still last longer or not. Or even what kind of altcoins will be there.

[gundala]

Hi, I just joined this forum. I have searched various articles on bitcoin, altcoin, and the use of cryptocurrencies. In every article it is mentioned that bitcoin is only 21Million BTC to be mined. then my question is, What happens if all bitcoin (21Million BTC) has been mined? Are miners going to mine alt?

Don't hesitate to explore this forum, there are lots of information to answer your curiosity. Maximize the search function to find the information you need
When BTC bitcoin is finished being mined, miners can still get rewards from transaction fees, while block rewards are no longer obtained.
It could be, competition in the crypto world is increasingly interesting because many new altcoins are competing to offer interesting innovations. If there is potential, it will be very beneficial for miners.

or supply will be added? please explain to me so that I can understand more.

Is the supply added? of course not. The system that applies to BTC has been designed in such a way and there are only 21 million available. This is a very good strategy, especially when the popularity of BTC increases, the number is limited, over time it becomes a rare item of high value.

[Ailurophile]

Hi, I just joined this forum. I have searched various articles on bitcoin, altcoin, and the use of cryptocurrencies. In every article it is mentioned that bitcoin is only 21Million BTC to be mined. then my question is, What happens if all bitcoin (21Million BTC) has been mined? Are miners going to mine alt? or supply will be added? please explain to me so that I can understand more.

No Bitcoin wouldn't add more supply when the all of the 21 Million BTC has been mined,
Miners would still earn from mining through transaction we still need them in order for our transaction to be confirmed.
And miners could also try mining alt-coin if they think that mining BTC isn't profitable anymore and I think some of the miners have done it already.

[Salamstar]

Hi, I just joined this forum. I have searched various articles on bitcoin, altcoin, and the use of cryptocurrencies. In every article it is mentioned that bitcoin is only 21Million BTC to be mined. then my question is, What happens if all bitcoin (21Million BTC) has been mined? Are miners going to mine alt? or supply will be added? please explain to me so that I can understand more.

When the day comes that the number of bitcoins reaches the limit set by 21 million coins, there will be no more Bitcoin bonuses for the miners but remains a need to validate transactions and store them on blocks in the blockchain so the miners will only benefit from fees Transactions.

[Kong Hey Pakboy]

Hi, I just joined this forum. I have searched various articles on bitcoin, altcoin, and the use of cryptocurrencies. In every article it is mentioned that bitcoin is only 21Million BTC to be mined. then my question is, What happens if all bitcoin (21Million BTC) has been mined? Are miners going to mine alt? or supply will be added? please explain to me so that I can understand more.

When the day comes that the number of bitcoins reaches the limit set by 21 million coins, there will be no more Bitcoin bonuses for the miners but remains a need to validate transactions and store them on blocks in the blockchain so the miners will only benefit from fees Transactions.

Indeed. When we run out the 21 million bitcoins, miners will only get paid in transaction fees whenever they create a new block and this could help drive up the price of bitcoin because there will be nothing increasing the supply of bitcoins.

[K4C]

The price of bitcoin is increasing day by day in the current cryptocurrency market, so I think those who have seen bitcoin a few years ago are now able to make a lot more profit, so I think the price of bitcoin will increase day by day so I have some bitcoin that for the last few years I do stock in bitcoin.

[MicroGuy]

The price of bitcoin is increasing day by day in the current cryptocurrency market, so I think those who have seen bitcoin a few years ago are now able to make a lot more profit, so I think the price of bitcoin will increase day by day so I have some bitcoin that for the last few years I do stock in bitcoin.

The world's only forum where this kind of nonsense is incentivized.

[thirdkiller]

If bitcoin can't be mined more, it will most likely increase its price.