What are your thoughts when all Bitcoins are mined?

[dansus021]

I won't have any thoughts when all the bitcoins are mined... because then I'll be dead for a long time. Unless something miraculous happens, of course!

this actually a simple answer  but very true.

but in my opinion the bitcoin will pretty much still exist maybe there will be debate when the supply is near to the limit and maybe there will be fork of bitcoin that pop off. but the miner will still be there to receive the transaction fee.

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[worle1bm]

This discussion has been over the forum lot of times and we are worrying about what will happen after a century a period where we can't predict anything at all.The miners rewards are transaction fees and block rewards at the time and till 2140 they will be earning mining rewards even halfed it will be worth it depending on the price levels at that time.

[panganib999]

In year 2009, 1.1 million bitcoins are mined which is 5.24% of the 21 million bitcoin that can be mine in the system. Today, 13 years after the first set of mined bitcoin there are already 19.19 million bitcoins in existence or 91.38% of the total bitcoin. Which means that 1.8 million bitcoins (8.57%) are left to be mine, if you are wondering when will all bitcoins be mined, professionals says that it will take another 120 (more or less) years to mine the remaining millions because of bitcoin halving. Bitcoin halving happens about every 4 years, the Bitcoin block reward that usually get by the miners are cut in half.

so, what are your thoughts when all Bitcoins are mined?

Mining for bitcoins will exponentially get harder the more bitcoins are mined. As of the moment it is estimated that as you said, it will take more than a century before all of bitcoins are mined. In the event that the last bitcoin is harvested, price will shoot up exponentially, as it will get even more scarce, exchanges will impose huge tax tariffs for trading bitcoin and that is to be expected, they have to get money from somewhere anyway. Operation-wise, nothing much will change about how bitcoin is operating, although I presume transactions will take a hell of a lot of time to go through.

[n0ne]

I won't have any thoughts when all the bitcoins are mined... because then I'll be dead for a long time. Unless something miraculous happens, of course!

this actually a simple answer   but very true.

but in my opinion the bitcoin will pretty much still exist maybe there will be debate when the supply is near to the limit and maybe there will be fork of bitcoin that pop off. but the miner will still be there to receive the transaction fee.

Yes, everyone will be dead. But, we have responsibility to think of the future generation. On such stance surely we are supposed to think how things could work then onwards.

Once the entire bitcoins were mined, the network fee on every transaction will be allocated for the miners. Forever the miners were in need to run the bitcoin network. Being the backbone, failure of miners will end up the network and such scenario won't happen.

[Sayeds56]

I won't have any thoughts when all the bitcoins are mined... because then I'll be dead for a long time. Unless something miraculous happens, of course!

this actually a simple answer  but very true.

but in my opinion the bitcoin will pretty much still exist maybe there will be debate when the supply is near to the limit and maybe there will be fork of bitcoin that pop off. but the miner will still be there to receive the transaction fee.

You are absolutely right. Miners will continue receiving reward in the shape of transaction fee even after all the Bitcoins are mined and as the Bitcoin adaption grows over time, their revenue will increase but transaction speed will be much higher compared to what it is now due to technological development. The scarcity due to no more supply of Bitcoin will increase the price to new highs. This is my opinion based on how I perceive future of Bitcoin and thing can happen totally opposite. It is better to do your own research before taking any investment decision.
 

[Plaguedeath]

You are absolutely right. Miners will continue receiving reward in the shape of transaction fee even after all the Bitcoins are mined and as the Bitcoin adaption grows over time, their revenue will increase but transaction speed will be much higher compared to what it is now due to technological development. The scarcity due to no more supply of Bitcoin will increase the price to new highs. This is my opinion based on how I perceive future of Bitcoin and thing can happen totally opposite. It is better to do your own research before taking any investment decision.

How you can sure their revenue on transaction fees is higher than mine Bitcoin? what if there's not many people trade Bitcoin and they just use 1 sat/byte since they're not in hurry? those miners wouldn't earn good amount money. Solving a block and get a reward on halving event is more profitable than just confirming the transaction. Again we still don't know what the future would be.

[Sayeds56]

You are absolutely right. Miners will continue receiving reward in the shape of transaction fee even after all the Bitcoins are mined and as the Bitcoin adaption grows over time, their revenue will increase but transaction speed will be much higher compared to what it is now due to technological development. The scarcity due to no more supply of Bitcoin will increase the price to new highs. This is my opinion based on how I perceive future of Bitcoin and thing can happen totally opposite. It is better to do your own research before taking any investment decision.

How you can sure their revenue on transaction fees is higher than mine Bitcoin? what if there's not many people trade Bitcoin and they just use 1 sat/byte since they're not in hurry? those miners wouldn't earn good amount money. Solving a block and get a reward on halving event is more profitable than just confirming the transaction. Again we still don't know what the future would be.

Nobody can predict anything with 100% certainty about Bitcoin because it is extremely volatile and unpredictable currency, the lesson we learn from the history of Bitcoin since it was launched that it always comes out with surprise & plays out what most of the market participants don't expect.

We are just portraying possible scenario & what is likely to happen after all Bitcoins are mined. Miners have important role to run Bitcoin's ecosystem securely & verifying the legitimacy of transactions, they should continue receiving reward.

[lizarder]

This discussion has been over the forum lot of times and we are worrying about what will happen after a century a period where we can't predict anything at all.The miners rewards are transaction fees and block rewards at the time and till 2140 they will be earning mining rewards even halfed it will be worth it depending on the price levels at that time.

When bitcoins start to run out of mined, the mining process will be completed, meaning that there will be no more Bitcoin incentives to be earned by Miners and will only function as trades. However, if it is associated with economic principles, when bitcoin is scarce and increasingly difficult to obtain, there will be a very large price spike.

This means Bitcoin will most likely become an important asset once mining is complete, even more valuable than it is today. For this reason, it is very appropriate if today we start to collect them slowly, because when bitcoins are getting scarce it will be very difficult for us to invest, the concept of economics will usually be appropriate if it is associated with similar cases.

[suzanne5223]

You are absolutely right. Miners will continue receiving reward in the shape of transaction fee even after all the Bitcoins are mined and as the Bitcoin adaption grows over time, their revenue will increase but transaction speed will be much higher compared to what it is now due to technological development. The scarcity due to no more supply of Bitcoin will increase the price to new highs. This is my opinion based on how I perceive future of Bitcoin and thing can happen totally opposite. It is better to do your own research before taking any investment decision.

How you can sure their revenue on transaction fees is higher than mine Bitcoin? what if there's not many people trade Bitcoin and they just use 1 sat/byte since they're not in hurry? those miners wouldn't earn good amount money. Solving a block and get a reward on halving event is more profitable than just confirming the transaction. Again we still don't know what the future would be.

Nobody can predict anything with 100% certainty about Bitcoin because it is extremely volatile and unpredictable currency, the lesson we learn from the history of Bitcoin since it was launched that it always comes out with surprise & plays out what most of the market participants don't expect.

We are just portraying possible scenario & what is likely to happen after all Bitcoins are mined. Miners have important role to run Bitcoin's ecosystem securely & verifying the legitimacy of transactions, they should continue receiving reward.

I supported what Sayeds56 said because Bitcoin can be problematic and also be incredible at some point but one thing remains, it will always come out strong.
After all, the 21 million Bitcoins are mined I also believe the miner's reward/revenue to be higher because miners may be selective with the transaction they execute, and other for some people to have their transaction confirmed they may choose to pay a ridiculous fee.
Thats my opinion about what I think may happen when all BTC is mine.

[Ayers]

Well said. Bitcoin is a very precious asset and no other asst asset can match its growth, it always bounces back stronger than it slides down during the bear run one like the one we are facing nowadays but it will not last forever. This bear run will end once world economy starts showing sign of revival. The first sign will be reduction in inflation, CPI data is scheduled to be announced today which is very important to determine the next direction of market.

Why should we care what will happen in 120 years? will we live until then? Currently, We have mined more than 19 million bitcoins and our mission is to own how many of the 19 million bitcoins are in circulation, that is the most important thing to think about and do right now.

CPI will be announced tonight but we are facing a bigger problem that is the collapse of FTX, if FTX declares bankruptcy will cause another panic in the market. It will be an opportunity or a risk depending on each person's perspective.

[Sayeds56]

Well said. Bitcoin is a very precious asset and no other asst asset can match its growth, it always bounces back stronger than it slides down during the bear run one like the one we are facing nowadays but it will not last forever. This bear run will end once world economy starts showing sign of revival. The first sign will be reduction in inflation, CPI data is scheduled to be announced today which is very important to determine the next direction of market.

Why should we care what will happen in 120 years? will we live until then? Currently, We have mined more than 19 million bitcoins and our mission is to own how many of the 19 million bitcoins are in circulation, that is the most important thing to think about and do right now.

CPI will be announced tonight but we are facing a bigger problem that is the collapse of FTX, if FTX declares bankruptcy will cause another panic in the market. It will be an opportunity or a risk depending on each person's perspective.

Indeed, collapse of FTX is a big issue which has shaken the whole crypto market and it will continue making headlines in news media until it is acquired by Binance or any other big investor, but I am pretty sure eventually market will digest it. Initially CZ was planning to acquire FTX but according to latest news reports he seems to be backing out now because he thinks that liquidity crunch is so huge which is beyond his control.

https://www.cnbc.com/2022/11/09/binance-backs-out-of-ftx-rescue-leaving-the-crypto-exchange-on-the-brink-of-collapse.html

[Marcellin9]

If the mining rewards continue to exist and all miners are motivated to mine up all Bitcoins, there must be something coming up for miners to continue. Otherwise the game is soon to the end and everyone would feel empty and lost. That's the key point.

[suzanne5223]

Well said. Bitcoin is a very precious asset and no other asst asset can match its growth, it always bounces back stronger than it slides down during the bear run one like the one we are facing nowadays but it will not last forever. This bear run will end once world economy starts showing sign of revival. The first sign will be reduction in inflation, CPI data is scheduled to be announced today which is very important to determine the next direction of market.

Why should we care what will happen in 120 years? will we live until then? Currently, We have mined more than 19 million bitcoins and our mission is to own how many of the 19 million bitcoins are in circulation, that is the most important thing to think about and do right now.

CPI will be announced tonight but we are facing a bigger problem that is the collapse of FTX, if FTX declares bankruptcy will cause another panic in the market. It will be an opportunity or a risk depending on each person's perspective.

The FTX issue has already caused some panic in the market which I believe everybody has ready know ever since CZ tweeted about the silly decision of SBF will technically cause the bankruptcy of FTX and from what I read Tether law enforcement which will be the US has ordered USDT to freeze 46.3 million USDT owned by FTX.
After combining all this and the issue happening with the economy some people believe the CPI data could cause a risk occasion.

[Ayers]

Indeed, collapse of FTX is a big issue which has shaken the whole crypto market and it will continue making headlines in news media until it is acquired by Binance or any other big investor, but I am pretty sure eventually market will digest it. Initially CZ was planning to acquire FTX but according to latest news reports he seems to be backing out now because he thinks that liquidity crunch is so huge which is beyond his control.

https://www.cnbc.com/2022/11/09/binance-backs-out-of-ftx-rescue-leaving-the-crypto-exchange-on-the-brink-of-collapse.html

This is not the first time the market has seen an exchange crash, we will overcome them all. About FTX and binance, I think this is a battle between two big players in the market, big fish eat small fish. no accident or trying to help as CZ claimed.

The FTX issue has already caused some panic in the market which I believe everybody has ready know ever since CZ tweeted about the silly decision of SBF will technically cause the bankruptcy of FTX and from what I read Tether law enforcement which will be the US has ordered USDT to freeze 46.3 million USDT owned by FTX.
After combining all this and the issue happening with the economy some people believe the CPI data could cause a risk occasion.

Tether has locked SBF assets at the request of law enforcement, I doubt that the government will use this as an excuse to impose crypto regulation faster than we think. The bad things will not stop at investors losing, we will be subject to government regulation.

[suzanne5223]

The FTX issue has already caused some panic in the market which I believe everybody has ready know ever since CZ tweeted about the silly decision of SBF will technically cause the bankruptcy of FTX and from what I read Tether law enforcement which will be the US has ordered USDT to freeze 46.3 million USDT owned by FTX.
After combining all this and the issue happening with the economy some people believe the CPI data could cause a risk occasion.

Tether has locked SBF assets at the request of law enforcement, I doubt that the government will use this as an excuse to impose crypto regulation faster than we think. The bad things will not stop at investors losing, we will be subject to government regulation.

After this issue matter I believe will give some chance of buying low for investors that have some capital kept in preparation for the bottom price that always happens during the last 2 months of the bearish market. What I fear most is the law enforcement agency's next step next year just like we see when the issue of ICO scams happen hand in hand back in the years 2018-2019 if I could remember correctly.
Just like you have said, we should expect a speedy crypto regulation

[franky1]

last mined coins would be in 2140

before that peoples main thought should be if they dont have kids yet, would they. and if they did what would their great great great grandkids be like. would they care about bitcoin or just live happily/snobby on the profits of their great great grandparents

[Angello Flores]

The last BTC will be mined in approx. 2140. But the change is not going to happen overnight. There are a lot of factors that may change within this period, giving miners time to adjust to the new rewarding system and for the BTC network to remain secure. In more than 100 years from now, it seems likely that all these issues will have been solved by Bitcoin Core developers and the wider cryptocurrency community.

[Newlifebtc]

The last BTC will be mined in approx. 2140. But the change is not going to happen overnight. There are a lot of factors that may change within this period, giving miners time to adjust to the new rewarding system and for the BTC network to remain secure. In more than 100 years from now, it seems likely that all these issues will have been solved by Bitcoin Core developers and the wider cryptocurrency community.

I think that cryptocurrency and Bitcoin in particular he is not longer be mining the way we are thinking so from my understanding I think that mining's of cryptocurrency is something that is being centered, so from my own understanding of mining of cryptocurrency I don't think that the individual as well can mine a Bitcoin sayings the value has been recognised for The society

[BitDane]

The last BTC will be mined in approx. 2140. But the change is not going to happen overnight. There are a lot of factors that may change within this period, giving miners time to adjust to the new rewarding system and for the BTC network to remain secure. In more than 100 years from now, it seems likely that all these issues will have been solved by Bitcoin Core developers and the wider cryptocurrency community.

I do not think that there is problem with the system that pays miners from tx fee.  I believe it is already happening, Miners compete for the new block and mine the block together with the tx fee.  There is no need for the miners to adjust, they just need to point their miners and hash away, solving blocks and mining tx fees. 

I think by that time, the scalability issue will be solved.

[nullama]

~snip~
I do not think that there is problem with the system that pays miners from tx fee.  I believe it is already happening, Miners compete for the new block and mine the block together with the tx fee.  There is no need for the miners to adjust, they just need to point their miners and hash away, solving blocks and mining tx fees. 

I think by that time, the scalability issue will be solved.

It already happens, yes, you're correct.

The thing is that the transition from block reward to transaction fees will be a gradual one. In two or three halvings more we'll see that the transaction fees will be way more important relative to the block reward right now.

Soon the block reward will be less than one Bitcoin, and then transaction fees will look very interesting to miners. From then onwards block rewards will be less and less attractive, and tx fees will be the actual main component of the reward