Am I right about this or not

[safar1980]

but I don't think we'll live that long.

See this guy? This guy gets it.

We don't even know if we will be alive by then.

1000% Agree   We all be dead when the bitcoin reached its limit unless we have some of potion from alien to watch this moment hehehe.

The simplest answer I think

Miner will be there but they will have efficient mining and big farms might cease to exist only small miners who will get from the transaction fees. and the price of bitcoin might be crazy at that time or the community has new consensus system I don't no like move to PoS but without adding more coin but this is high unlike to happen

I am not sure that bitcoin will survive until 2050. What ASIC will be for Bitcoin mining in 2050?
100,000 Terahesh with an electricity consumption of 50 kilowatts.
I wrote what first came to mind, but only large companies can buy and serve such ASICs.

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[bettercrypto]

Guys correct me if I am wrong, somebody ask me a question about what will happen to bitcoin miners after all available bitcoin have been mined and no more halving every four years, will miners go out of business? This is the question I was asked and I believe that miners are the reason why transactions are been processed, right? correct me if I am wrong though,  I believe that even after all the 21 million coins are mined, Bitcoin miners will still be here because they are the reason why transactions are going through or am I wrong?

You are right, and bitcoin miners make money through block rewards, transaction fees, profitability and costs, remember this.

       Just always remember that bitcoin miners are responsible for adding and verifying transactions on the bitcoin blockchain. And the purpose why they do this is because they solve complex math problems. so in return for what they do they are rewarded with bitcoin.

[1] Job of the Bitcoin Miners

This is cool, it means the excitement will always be here, I knew this before but I just wanted to confirm again, because someone threw this question to my face, and thanks for your answers, everyone. I believe Bitcoin is here to stay, miners will always have something to make from transaction fee at least which is a very good thing.

The only thing miners need to keep doing is upgrading their mining equipment, and the profit will be lower unless transaction fee increases, I hope this gets to new bitcoin miners that are worried about the uncertainty of mining in the future.

Your almost welcome, as long as no matter what others say negative for you about bitcoin, the important thing is that "You" yourself stick to the belief and vision of bitcoin and know more about it.

       So even when the 21M supply reaches the point, we don't know what these developers can do, they can increase the supply of Bitcoin or we don't know if they can think of something better to do. Although my assumptions are impossible.

[dansus021]

I am not sure that bitcoin will survive until 2050. What ASIC will be for Bitcoin mining in 2050?
100,000 Terahesh with an electricity consumption of 50 kilowatts.
I wrote what first came to mind, but only large companies can buy and serve such ASICs.

This is just an opinion but when the bitcoin don't reward for the finding block like today maybe we gonna see declining on difficulty since all they found block without reward. the Only reward is from the transaction fee.

The big miner might drop their farm and the small or home miner will come to get that Transaction fee. so yeah at this time we might see mining from home again. 

[KFC786]

Guys correct me if I am wrong, somebody ask me a question about what will happen to bitcoin miners after all available bitcoin have been mined and no more halving every four years, will miners go out of business? This is the question I was asked and I believe that miners are the reason why transactions are been processed, right? correct me if I am wrong though,  I believe that even after all the 21 million coins are mined, Bitcoin miners will still be here because they are the reason why transactions are going through or am I wrong?

There are rumors that when 21 million Bitcoin will.be mined than at that time they will collect fee for what they are doing on every transaction that happens. So they will be able to get a lot of money what they are doing.

[suzanne5223]

Guys correct me if I am wrong, somebody ask me a question about what will happen to bitcoin miners after all available bitcoin have been mined and no more halving every four years, will miners go out of business?

If miners go out of business who will manage the network and mine the unconfirmed transaction into the block? Miners will never go out of business but they will only depend on transaction fees and there's a chance for a huge transaction after the whole 21M BTC is mine and there's no more halving.

This is the question I was asked and I believe that miners are the reason why transactions are been processed, right? correct me if I am wrong though,  I believe that even after all the 21 million coins are mined, Bitcoin miners will still be here because they are the reason why transactions are going through or am I wrong?

That's correct. Meanwhile, the miners that used the full node do two different things for the Bitcoin network that's making it stronger and also mining BTC.

[safar1980]

Guys correct me if I am wrong, somebody ask me a question about what will happen to bitcoin miners after all available bitcoin have been mined and no more halving every four years, will miners go out of business?

If miners go out of business who will manage the network and mine the unconfirmed transaction into the block? Miners will never go out of business but they will only depend on transaction fees and there's a chance for a huge transaction after the whole 21M BTC is mine and there's no more halving.

The Bitcoin blockchain is secure when there are many miners processing transactions. Each miner has its own cost of electricity and equipment maintenance. When the profit falls, those miners who have high costs will leave mining. If 50% of miners leave mining, then the other 50% who remain will receive 2 times more profit. The number of miners depends on the profit, I think few miners will work with minus profit.

[Wiwo]

Guys correct me if I am wrong, somebody ask me a question about what will happen to Bitcoin miners after all available bitcoin have been mined and no more halving every four years, will miners go out of business?

If miners go out of business who will manage the network and mine the unconfirmed transaction into the block? Miners will never go out of business but they will only depend on transaction fees and there's a chance for a huge transaction after the whole 21M BTC is mine and there's no more halving.

The Bitcoin blockchain is secure when there are many miners processing transactions. Each miner has its own cost of electricity and equipment maintenance. When the profit falls, those miners who have high costs will leave mining. If 50% of miners leave mining, then the other 50% who remain will receive 2 times more profit. The number of miners depends on the profit, I think few miners will work with minus profit.

So the limited minner will receive x2 rewards if some high percentage exit mining, this is somewhat unbelievable and impossible for miners to exist on the network due to limited minimum reward resulting from a reduction in bitcoin block reward due to the scarcity of bitcoin, but the ultimate question is, would that likely become the reality i don't think so, things like fees and other may change but the reduction in the number of minners will not change rather it may increase in the future.

Bitcoin the question about Bitcoin halving i don't think this event will ever change as long as the Bitcoin network remains.

[safar1980]

Guys correct me if I am wrong, somebody ask me a question about what will happen to Bitcoin miners after all available bitcoin have been mined and no more halving every four years, will miners go out of business?

If miners go out of business who will manage the network and mine the unconfirmed transaction into the block? Miners will never go out of business but they will only depend on transaction fees and there's a chance for a huge transaction after the whole 21M BTC is mine and there's no more halving.

The Bitcoin blockchain is secure when there are many miners processing transactions. Each miner has its own cost of electricity and equipment maintenance. When the profit falls, those miners who have high costs will leave mining. If 50% of miners leave mining, then the other 50% who remain will receive 2 times more profit. The number of miners depends on the profit, I think few miners will work with minus profit.

So the limited minner will receive x2 rewards if some high percentage exit mining, this is somewhat unbelievable and impossible for miners to exist on the network due to limited minimum reward resulting from a reduction in bitcoin block reward due to the scarcity of bitcoin, but the ultimate question is, would that likely become the reality i don't think so, things like fees and other may change but the reduction in the number of minners will not change rather it may increase in the future.

Bitcoin the question about Bitcoin halving i don't think this event will ever change as long as the Bitcoin network remains.

The main reward of the miner decreases every halving by 50%.
The increase in reward can happen when a lot of miners go offline or network fees are high.
If 5% of miners leave to mine other coins or turn off mining, then this may not be noticeable for profit.

[Wiwo]

The main reward of the miner decreases every halving by 50%.
The increase in reward can happen when a lot of miners go offline or network fees are high.
If 5% of miners leave to mine other coins or turn off mining, then this may not be noticeable for profit.

Even when a lot of miners pack up the mining farm and it result in higher rewards for the available miners it still balls down to one thing which is the winner will have to double their mining capacity since there will be computing twice the amount in transaction compared to a previous time where the number of minner are multiple.

So it's a chance that must keep rolling as long as rewards and mining kid concern, the lesser the block rewards the higher the value of Bitcoin so at that, we must be ready to make adequate accumulation plans.

[Z-tight]

Even when a lot of miners pack up the mining farm and it result in higher rewards for the available miners it still balls down to one thing which is the winner will have to double their mining capacity since there will be computing twice the amount in transaction compared to a previous time where the number of minner are multiple.

In addition to block rewards, miners get the tx fees attached to tx's in the block they mine and add to the blockchain, just as the network is congested due to ordinals and people have to pay higher fees, miners get a higher total reward, but it doesn't have to do with the available miners or the current hashrate, but how much in tx fees that people are willing to pay.

Take note that it doesn't matter the number of miners available or the current hashrate, mining difficulty would always adjust automatically to ensure that blocks are mined ~ 4 minutes on average and miners cannot exceed the block size limit no matter the number of pending transactions, so if a miner increases their computation power it is only because they want to be at an advantage to add blocks to the blockchain.

[suzanne5223]

Guys correct me if I am wrong, somebody ask me a question about what will happen to bitcoin miners after all available bitcoin have been mined and no more halving every four years, will miners go out of business?

If miners go out of business who will manage the network and mine the unconfirmed transaction into the block? Miners will never go out of business but they will only depend on transaction fees and there's a chance for a huge transaction after the whole 21M BTC is mine and there's no more halving.

The Bitcoin blockchain is secure when there are many miners processing transactions. Each miner has its own cost of electricity and equipment maintenance. When the profit falls, those miners who have high costs will leave mining. If 50% of miners leave mining, then the other 50% who remain will receive 2 times more profit. The number of miners depends on the profit, I think few miners will work with minus profit.

In fact, the quantity of miners on the network has a significant impact on the security of the Bitcoin blockchain. In order to change the chain's content, a malicious actor would need to control the majority of the mining power, which is made harder to do when more miners there are on the network.

[safar1980]

The main reward of the miner decreases every halving by 50%.
The increase in reward can happen when a lot of miners go offline or network fees are high.
If 5% of miners leave to mine other coins or turn off mining, then this may not be noticeable for profit.

Even when a lot of miners pack up the mining farm and it result in higher rewards for the available miners it still balls down to one thing which is the winner will have to double their mining capacity since there will be computing twice the amount in transaction compared to a previous time where the number of minner are multiple.

So it's a chance that must keep rolling as long as rewards and mining kid concern, the lesser the block rewards the higher the value of Bitcoin so at that, we must be ready to make adequate accumulation plans.

I use average block rewards for a week or a month to calculate the payback of ASICs. Commissions in the block are 5-10 thousand dollars, and the reward for the block is 170,000 dollars.
If you mine on a pool, then within a week or a month you will have a stable average reward per day, which you will focus on.