The world after the last bitcoin is mined

[8m_zk]

Imagine the future world when the last bitcoin is mined. Do you think bitcoin will stay decentralized or the supply will be somehow controlled and accumulated among governments and banks?

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[Oshosondy]

Nothing will make bitcoin to be centralized, it will be decentralized, bitcoin is just like gold, but digital, even if the banks are holding the greatest amounts, it is people demanding and selling rates that will determine the price. But, in some aspect, it could be centralized, like governments having policies that any one having bitcoin to be paying certain monthly or annual amoumt. Goverments will try to manipulate and make people depend on them to be able to buy and sell bitcoin so looking for more ways to further centralized the coin. But with what I am looking in my view and perspective, I do not think bitcoin can be centralized in term of price because the price will never ever be controlled by centralized bodies which are the governments, bitcoin is decentralized beyond that.

[serjent05]

Nothing will make bitcoin to be centralized, it will be decentralized, bitcoin is just like gold, even if the banks are holding the greatest amounts, it is people demanding and selling rate that will determine the price. But, in some aspect, it could be centralized, like governments having policies that any one having bitcoin to be paying certain monthly or annual amoumt. Goverments will try to manipulate and make people depend on them to be able to buynand sell bitcoin so that ways will e looked for to further centralized the coin. But with what I a looking, I do not think bitcoin can be centralized in term of price because the price will never ever be countroled bybcentralized bodies which are governments, bitcoin is decentralized beyond that.

Bitcoin is only a program that is created by the developers, so we are not 100% sure if Bitcoin will stay decentralized over the course of its existence.  As much as we hope that Bitcoin will stay decentralized, we are not sure what the future developers will implement.  If the consensus of the developers finds that centralizing Bitcoin will benefit its ecosystem there is no telling what they may implement in the future.  Let us just hope that Bitcoin stays decentralized and that developers and supporters will maintain it that way.

In short, the word nothing will make Bitcoin to be centralized is just wishful thinking.

[8m_zk]

Yeah, when the Goverments see a threat they try to control and manipulate it by their policies.

Nothing will make bitcoin to be centralized, it will be decentralized, bitcoin is just like gold, but digital, even if the banks are holding the greatest amounts, it is people demanding and selling rates that will determine the price. But, in some aspect, it could be centralized, like governments having policies that any one having bitcoin to be paying certain monthly or annual amoumt. Goverments will try to manipulate and make people depend on them to be able to buy and sell bitcoin so looking for more ways to further centralized the coin. But with what I am looking in my view and perspective, I do not think bitcoin can be centralized in term of price because the price will never ever be controlled by centralized bodies which are the governments, bitcoin is decentralized beyond that.

[(o)(o)ilikeboobs(o)(o)]

When bitcoin is finally fully mined, I don't know if miners will continue to validate Bitcoin transactions or if they switch to mining other altcoins.
Certainly, Bitcoin must have an improvement in the source code to bring convenience in the process of using.
When governments hold too much Bitcoin, they can be rate manipulated at their disposal. In the future when Bitcoin is fully mined, it will eventually look like gold.

[The Cryptovator]

Fully mined bitcoin doesn't mean it will be centralized. Still, you will be the owner of that amount you are holding and you can transfer funds without a centralized third party. That means bitcoin is decentralized forever. I am sure we will not alive during that time, we don't know if bitcoin exists till 2140. Who knows if bitcoin replace by some other currency. But stay sure, it will be decentralized if exist.

[OROBTC]

...

20 years is a long time in our Brave New World.  So much happens so quickly that looking at an event that MIGHT happen in ~100 years is not worth serious amounts of time, it's really just idle intellectual speculation (not there's anything wrong with that).

There will almost surely be unanticipated changes of huge magnitude in the next 100 years that no one has any idea of what will happen to us in 100 years, much less what the world will look like after the last Bitcoin is mined.

I am more focused on the next 10 years.  That will be exciting enough.  Thought that 2020 has been interesting?  Wait until 2021...

[Pulsar77]

I suppose that there won't be anything like bitcoin until then. Presumably, the last bitcoin will have been mined in 2150 and the technology will improve by then. Maybe there won't be such a thing as bitcoin. We will have been using much more technological stuff instead.

[DatKing]

I don't think that Bitcoin's system will change when the last Bitcoin is mined. It doesn't seem reasonable to me. It is the main feature of cryptocurrencies. They are decentralized and they will continue to be like that on every condition.

[taufik123]

Currently, the circulation of bitcoins that have been successfully mined is around 18.5 million Bitcoin and the remaining unmined is around 2.5 million bitcoins. It is estimated that bitcoin will be mined out by 2140 according to the blockchain system that has been implemented. The halving mechanism will make bitcoins even rarer to mine and this happens every 210,000 block is reached or about once every 4 years.

If all bitcoins are successfully mined, miners will no longer get bonus bitcoins from each block mined, but only get income from transaction fees. Transaction costs will certainly be higher because miners prioritize large transaction costs to cover their operational costs.

When bitcoin has been successfully mined, all miners will remain there and even new miners will appear. It is less than 120 years for all the bitcoin supply to be successfully mined.

[gentlemand]

The older I get the more the phrase 'not my problem' seems beautiful to me.

All the same I expect decentralisation will become more prominent in the minds of populace and the tools created to give it to them will be truly impressive. Who knows where we'll be in 120 years but the last few years have clearly shown the existing order of things is starting to creak horrifically.

Bitcoin is one path beyond it. Education is the main path and the knowledge of how truly corrosive the existing order of things is will only grow from here.

[farosa]

I personally cannot imagine that day as a big day. The 2140 year is far from us. In recent years, such rapidly developing technology will be much more advanced in those years, which will not make bitcoin as valuable as it is now. I even think that bitcoin will not be mined until the last one. Bitcoin will retain its value at most until the next century, after this there will be the systems closer to "perfect". Also, we can use this development in favor of bitcoin, but I think the first choice would make more sense.

[Oilacris]

Imagine the future world when the last bitcoin is mined. Do you think bitcoin will stay decentralized or the supply will be somehow controlled and accumulated among governments and banks?

It would be never be centralized and considering that all bitcoins that had been mined then its safe to presume that it is totally in circulation into many hands but the

fact that there are still people/company/institution which is holding more 1 Bitcoin into their stashes but doesnt mean that they would have the full control of the market.

Im not really that minding that much on what would happen that time since it would be on 2140 and im sure im already dead for that time and also if bitcoin did manage

to last that long then expect for its price to be already on the rooftop.

[Baofeng]

Imagine the future world when the last bitcoin is mined. Do you think bitcoin will stay decentralized or the supply will be somehow controlled and accumulated among governments and banks?

Don't get ahead of yourself, maybe all of us are no longer here when the last BTC is mined, although we might get a feel on what or how it is when 99% of it will be mined around 2032-2036. And after, that 1% for the next hundred years. Of course, it will stay decentralised because it is how it was designed and I doubt that it change. I don't think the governments or banks will want to control or accumulate it, Gold is their number reserve assets.

[mangsitin]

yes, the number of bitcoins is only 21 million, currently Bitcoin is in Phase III Halving (since May 12, 2020), from 12.5 BTC per block to 6.25 per block reward for miners who successfully validate a new block.  The average period between blocks is 10 minutes.  Bitcoin transactions will always be running, Bitcoin will always play a role as the main crypto asset and even encourage the emergence of new Bitcoin miners.  They still get income in the form of Bitcoin, it's just not from new Bitcoin rewards per block.and miners will benefit from transaction fees.

[Wexnident]

The world would still probably be an oblate spheroid, still revolves around the sun, and is part of the galaxy. Oh, and is probably still called Earth. Jokes aside though, the same system would still remain the same, last bitcoin mined or not. Even if the governments somehow managed to buy up the entire Bitcoin supply, they'd have to spend an enormous amount to it AND they wouldn't really profit off of it. They'd only gain more disadvantages simply because they would have to be forced to sell it, maybe at an even lower price than when they bought it. As for the issue of it being centralized, it's close to impossible imo. If some were deigning to actually make it a centralized coin, why not do it right now no?

Additionally, not that I'm cursing anyone or anything, most of us would be long dead by then. Most of us are probably at the middlepoint of our lives, and the supply being mined would still last for more than a century. No idea really why we should think of something that we wouldn't really be affected with.

[amishmanish]

It is an interesting thought experiment. Almost 80-90% of all bitcoin still sit in less than 10% of all addresses. This means that in a future world where bitcoin becomes extremely significant, it will simply replace the problem that it was meant to tackle, centralization of value creation. Bitcoin is not well distributed. It is concentrated in a few hands and a future when bitcoin has supremacy, we will be looking at just another Oligarchy. It will be a mixture of cypherpunks and capitalists rather than just capitalists.

This is why I don't think such a future will ever come to pass. Bitcoin will continue to rise in value but the promise of decentralization is not up to bitcoin to fulfill anymore. People who realize the value now will ensure that they have a stake in that future by trying to stack bitcoin savings from now. Bitcoin will remain significant but the onus of decentralization or changing the fiat system is no longer on bitcoin.

[romero121]

The decentralized operation of bitcoin won't get affected once the last bitcoin is mined. In one way or the other each and every cryptocurrency into existence is tied with bitcoin network. When the entire volume is mined, the use case dependence of bitcoin can be found high in the market.

Different altcoins used for transaction service will keep bouncing same as we see lots of payment applications into usage at present. Did the existence of these many payment applications affected the market of PayPal pioneering global transactions. Same is with the growth/value of bitcoin even after its final coin is mined.

[EdenHazard]

Imagine the future world when the last bitcoin is mined. Do you think bitcoin will stay decentralized or the supply will be somehow controlled and accumulated among governments and banks?

Bitcoin designed to last forever.. just like internet that continuously creates new business model, adopted even more as a primary needs and there's might a lot to happen unexpectedly in good ways.
Noone will ever able to to centralize bitcoin , they will probably looking for other cryptocurrency that could be able to be centralized.

Not even if bitcoin got the 51% attack, there's consensus to figure that out.

[Alucard1]

If the last bitcoin has been mined then the miners will no longer receive block rewards because there would be no coins to be generated, only the transaction fees will be there only way to earn for every complete transaction.

There are only 21 million bitcoins that can be mined in total.
Once bitcoin miners have unlocked all the bitcoins, the planet's supply will essentially be tapped out.
Currently, around 18.5 million bitcoin have been mined; this leaves less than three million that have yet to be introduced into circulation.

We almost have 3 million left before all the bitcoin has mined and I think it would take 4-5 years.

Here are some threads related with that:
Re: What will happen to Bitcoin after all 21 million are mined?
What happens when the last bitcoin has been mined? [Year 2140]
when all bitcoins are mined, then what