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Author Topic: The total limit of bitcoin  (Read 185 times)
BVeyron
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May 05, 2023, 08:08:12 PM
 #21

Looking at the basic fact about the limit of bitcoin according to the protocol for the bitcoin network,it was design with a limit of 21 million coin.
   My question now is are cryptocurrency miners be unable to generate new bitcoin after it reach the 21 million coin limit?
Since there are over 19.15 million bitcoins in circulation if am not mistaken.
Miners get transaction fees as well. So when the limit is reached, it would be the source of income for miners. Algorithms used in some coins actually don't have mining process at all, and what server holders get for their work is only transaction fees. Some coins are the opposite: they can be mined endlessly. It depends on the algorithm.

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May 05, 2023, 08:21:53 PM
 #22

The limited supply of 21 Million is the core strength of Bitcoin, and that is the reason it is considered anti-inflationary and hedge against fiat currencies. Just imagine what will be the expected price of a Bitcoin in that year. Those who invest in Bitcoin today would have rich generations with that investment.What some people are worried about is that the transaction fee will not be enough for miners when bitcoin mining fees stop coming. They generate Bitcoin through the the transaction fee payment.

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May 05, 2023, 08:36:38 PM
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I have also one question regarding miner benefit after btc mine limit reached, will these mine machine can be used to mine other coins or these will he useless after 21 million reached?
Frankly - don't know and don't care. Ask us again in 2140 when the block reward drops to near zero.

Oh wait -- none of us, and even our children will be long dead before then to care...  Cheesy

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