Bitcoin fees and future

[Huppercase]

This is absolutely true and logical. My question is about the possibility that Bitcoin will not be available to everyone due to the scarcity factor that will affect the supply in the market and the difficulty of making transactions due to the high transaction fees after the completion of mining the last Bitcoin. Can't we talk about the "death of Bitcoin" clinically as happens with humans? I read articles about these futuristic approaches and I find them really interesting because they pose the issues from a completely objective point of view. What do you think?

You remember when a thread where someone from this forum bought pizza for 10k btc? That's was because it was available, the supply was low but the demand was not there yet but today, nobody will ever exchange 0.1 Bitcoin for Pizza because it is too expensive, it's scares now right but there is sats you know, number of sats make an amount of Bitcoin, I believe a time will come where sats will become relevant, people will used Satoshi to buy and sell Bitcoin so it wouldn't be an issue with scarcity but Bitcoin as whole will be scarce.

This thing might come faster than we think. Imagine that Microstrategy keeps buy and holding every Bitcoin they bought, Blackrock continue to do the same and then US finally agree to have Bitcoin reserve where they will be buying quarterly or yearly, the Bitcoin market is going to be crazy that no one will literally want to sell Bitcoin, even exchanges will come to a new terms to limit the amount of Bitcoin you can take out from their platform, it will be so scarce to buy.

[JunaidAzizi]

It's a loop no one will leave. We know values depend on trust, and trust comes from security, which is the miner. If the miner is present, the system will be secured, and the value of Bitcoin will increase, allowing people to make transactions. After 2140, the miner will rely on transaction fees, and maybe in the future, if there are no block rewards, the transaction fees will be higher. So the point is that Bitcoin will never collapse, perhaps its value will increase(Bitcoin scarcity and decentralization trust) over time, and miners will be there after 2140 to verify the transactions and will be paid to cover their electricity bills and hardware costs.

[nakamura12]

Actually, this is not the first time being discussed about what will happen when all bitcoin are mined. To be honest, it won't crash the bitcoin right away if there's still transactions going on because miners doesn't get their rewards on the block alone but also from transaction fees. In my opinion, transaction fees are there so that when all bitcoins are mined then the miners still have a reward. Anyway, it's not like you're still alive on that year so you don't have to think about that at this moment because I am sure they will find a way to solve it.

[coupable]

This is absolutely true and logical. My question is about the possibility that Bitcoin will not be available to everyone due to the scarcity factor that will affect the supply in the market and the difficulty of making transactions due to the high transaction fees after the completion of mining the last Bitcoin. Can't we talk about the "death of Bitcoin" clinically as happens with humans? I read articles about these futuristic approaches and I find them really interesting because they pose the issues from a completely objective point of view. What do you think?

You remember when a thread where someone from this forum bought pizza for 10k btc? That's was because it was available, the supply was low but the demand was not there yet but today, nobody will ever exchange 0.1 Bitcoin for Pizza because it is too expensive, it's scares now right but there is sats you know, number of sats make an amount of Bitcoin, I believe a time will come where sats will become relevant, people will used Satoshi to buy and sell Bitcoin so it wouldn't be an issue with scarcity but Bitcoin as whole will be scarce.

This thing might come faster than we think. Imagine that Microstrategy keeps buy and holding every Bitcoin they bought, Blackrock continue to do the same and then US finally agree to have Bitcoin reserve where they will be buying quarterly or yearly, the Bitcoin market is going to be crazy that no one will literally want to sell Bitcoin, even exchanges will come to a new terms to limit the amount of Bitcoin you can take out from their platform, it will be so scarce to buy.

This scenario is likely to happen and there are indications that we are on this plan, as whales are working to acquire as much Bitcoin as possible to keep a small percentage of it available for popular circulation. Bitcoin in this case will become only a store of value and its use as a major payment system will decline. Moreover, all mining pools will have to obtain as much as possible to participate in mining after the transition from POW to POS, and thus the scarcity factor will be the only factor that determines BTC value.

[qurbanshah02]

Actually, this is not the first time being discussed about what will happen when all bitcoin are mined. To be honest, it won't crash the bitcoin right away if there's still transactions going on because miners doesn't get their rewards on the block alone but also from transaction fees. In my opinion, transaction fees are there so that when all bitcoins are mined then the miners still have a reward. Anyway, it's not like you're still alive on that year so you don't have to think about that at this moment because I am sure they will find a way to solve it.

That is, Bitcoin opens up a lot of things due to which the matter goes too far and hence the original goal cannot be achieved.Despite the Bitcoin crash, its quality is so stable and good that everyone believes it will go up. The way it tastes right now because it has crashed 4- 5 times and even went to 90k$. But then he didn't give up and it still hovering around 97k$ and it only going to go up which will increase its value a lot.Obviously, if this is not the case, the benefits of Bitcoin are greatly reduce which is why many people even trade Bitcoin to get such things. This has to be addressed because it has a negative effect on other coins that we don't see much but will see over time which could cause all coins to go bad.

[As-Soon-As]

Bitcoin transactions will definitely increase in the future, there is no question of it being silent in any way. Bitcoin miners will try hard to complete more transactions with their Bitcoin, so the amount of Bitcoin transactions will increase more in the future but will not decrease.
 Before 2140, there will be a lot of mystery in Bitcoin transactions and this will determine the type of income of miners on transaction fees. If there are no transactions, then their income will decrease completely, so they will be in difficulty, but their transaction volume will continue to grow in huge size and there will be enough opportunity to compensate them from this.
Because they will then receive the most and largest orders in their blocks than the desired amount of reward than now.

[MusaMohamed]

Bitcoin transactions will definitely increase in the future, there is no question of it being silent in any way. Bitcoin miners will try hard to complete more transactions with their Bitcoin, so the amount of Bitcoin transactions will increase more in the future but will not decrease.

Logically, with same block size since Segwit upgrade in 2017, Bitcoin blocks will be more filled in future when there will be more Bitcoin users, more demands on on chain Bitcoin transactions in future. I expect to see future upgrades on Bitcoin scalability and block size will become bigger so that Bitcoin blockchain and blocks will be able to serve more transactions per block.

Before 2140, there will be a lot of mystery in Bitcoin transactions and this will determine the type of income of miners on transaction fees. If there are no transactions, then their income will decrease completely, so they will be in difficulty, but their transaction volume will continue to grow in huge size and there will be enough opportunity to compensate them from this.
Because they will then receive the most and largest orders in their blocks than the desired amount of reward than now.

Bitcoin blockchain is lively if there are Bitcoin miners that provide hashrate as computational power to find new blocks including confirm Bitcoin transactions, and Bitcoin nodes (full nodes, prune nodes) to verify and pass it to other nodes.

Income of Bitcoin miners, if people understand correctly, is from two sources: Bitcoin block rewards that is halved every 210,000 blocks, and Bitcoin transaction fees by confirming Bitcoin transactions for Bitcoin users together with new blocks found.

[martinex]

In general, fees can be interpreted differently, especially when the network is congested but the network continues to run and if we look at the BTC system, it is identical to replacing the costs of traditional intermediaries with market-based incentives, not zero costs as you mean above, and network distribution. and one more thing may be common but this is the real fact that Bitcoin has a dynamic market cycle and never sleeps.

[Mia Chloe]

So when mining we actually calculating other people transactions. What if everone just mining and nobody make transactions? The whole point of bitcoin is that it has no fees if you use professional mode wont that defeat the purpose of not having a central computer? And after 2140 there will be no reward to maintain the network then why would anyone bother doing it? Would the people investing money into these servers not just quit right away causing the whole system to collapse and the value of money be completely lost?

All these are basically just imaginary scenarios because I see no reason why a network basically created to make transactions with will suddenly be abandoned by the whole world only to test something fictional. The bitcoin network isn't dependent on fees if it were it would be impossible to broadcast a transaction without fees but that isn't the case.
Even if all coins get mined the network will still continue by creating new blocks that wouldn't have rewards since miners would now depend solely on fees.

[hero_the_bossman]

So when mining we actually calculating other people transactions. What if everone just mining and nobody make transactions? The whole point of bitcoin is that it has no fees if you use professional mode wont that defeat the purpose of not having a central computer? And after 2140 there will be no reward to maintain the network then why would anyone bother doing it? Would the people investing money into these servers not just quit right away causing the whole system to collapse and the value of money be completely lost?

All these are basically just imaginary scenarios because I see no reason why a network basically created to make transactions with will suddenly be abandoned by the whole world only to test something fictional. The bitcoin network isn't dependent on fees if it were it would be impossible to broadcast a transaction without fees but that isn't the case.
Even if all coins get mined the network will still continue by creating new blocks that wouldn't have rewards since miners would now depend solely on fees.

It was said directly by the second post in the thread.

No transactions - there is no eco and no chain of blocks with them inside.

And Satoshi himself envisioned the fees to be the next step to reward the miners.

[ABCbits]

So when mining we actually calculating other people transactions.

No, mining actually perform lots of SHA-256d operation of block header.

The whole point of bitcoin is that it has no fees if you use professional mode wont that defeat the purpose of not having a central computer?

I don't why you make such assumption. But TX with 0 fee was thing in the past when miner simply use default behavior of Bitcoin-Qt rather than maximizing profit.

This is absolutely true and logical. My question is about the possibility that Bitcoin will not be available to everyone due to the scarcity factor that will affect the supply in the market and the difficulty of making transactions due to the high transaction fees after the completion of mining the last Bitcoin. Can't we talk about the "death of Bitcoin" clinically as happens with humans? I read articles about these futuristic approaches and I find them really interesting because they pose the issues from a completely objective point of view. What do you think?

There will be solutions for this, technically and unit of bitcoin. With the expectation that Bitcoin value will grow up and price will increase more, 1 satoshi will have more value in $ with time, and new smaller units can be created and use for Bitcoin transaction fees.

Solutions like Lightning Network, Bitcoin side chains and something new can help Bitcoin technically.

Sidechain Observer - Bitcoin L2 Projects & current state of development
[Did you know?] Bitcoin Table of Units

Hard fork to allow smaller unit on Bitcoin network is also option.