Question About What is the maximum daily ₿ mining and transaction limit🤔❓

[arzuo]

Since Bitcoin can be mined ⛏⛏⛏ until 2140 and no more BTCitcoins will be mined after 21 million Bitcoins,
Naturally, there is a fixed daily Bitcoin mining limit.

So, I have some 🤔 questions here:

Question 1: How many Bitcoins can/will be mined in a day❓

Question 2: If there is a fixed maximum daily Bitcoin mining limit, how will other transactions be completed after the daily maximum mining limit is reached❓

Question 3: What if a group of Bitcoin miners wants to mine a large number of Bitcoins by artificially trading thousands and millions of Bitcoins among themselves, would that be possible❓

[Zaguru12]

All your questions are the same, so let me start by there is nothing like a day or 24 hours time frame in the bitcoin network. It works all round (24/7) as we all called it.

This means that there is no limitations or exact number to what must be mined in a day. There is variations of number of bitcoin to mined due to bitcoin halving which happens after every 210,000 block mined,  but estimation can be made in the number of blocks that can be confirmed/mined in a day but that too varies,

There is an average period of 10 minutes to mine one block although this varies but is usually adjusted by the difficulty calculations every 2016 blocks so let’s say leave the timing to 10 minutes. That means in 24 hours time frame 144 blocks can be mined

1hr=6 blocks
24 hr= 144 blocks

Currently the number of bitcoin for one block is actually 3.125 BTC

24 hours=450 BTC

So with time to mine each block not exact, this number of bitcoin to be mined a day would increase or decrease. Also there is halving which will reduce the total number of bitcoin per block 

Question 2: If there is a fixed maximum daily Bitcoin mining limit, how will other transactions be completed after the daily maximum mining limit is reached❓

Like I say there is nothing like day or night or 24 hours or limitations in mining, it’s works nonstop

[FP91G]

A miner's profit consists of the block reward and the fees for processing all transactions included in that block.If a miner finds 1 block, the profit equals: 3.125 BTC + transaction fees.In mining pools, this reward is split among all miners according to their contribution to mining.If the block reward becomes 0 in the year 2140, the miner will receive only transaction fees.

[victor-uniform-solo]

Since Bitcoin can be mined ⛏⛏⛏ until 2140 and no more BTCitcoins will be mined after 21 million Bitcoins,
Naturally, there is a fixed daily Bitcoin mining limit.
....

it's just wrong assumption... year 2140 is an estimation. Fixed limits are 2016 and 21mil

its more like:
Since Bitcoin block can be mined ⛏⛏⛏ every 10minutes (which is guaranteed by blockchain self-adjusting difficulty feature triggering every 2016 blocks) it is estimated that last (21mil) bitcoin will be mined around y 2140.

[arzuo]

A miner's profit consists of the block reward and the fees for processing all transactions included in that block.If a miner finds 1 block, the profit equals: 3.125 BTC + transaction fees.In mining pools, this reward is split among all miners according to their contribution to mining.If the block reward becomes 0 in the year 2140, the miner will receive only transaction fees.

Since there is no fixed time limit for mining,
Why is it unlikely that the reward will be blocked before 2140?
I am still not clear on this.

[FP91G]

A miner's profit consists of the block reward and the fees for processing all transactions included in that block.If a miner finds 1 block, the profit equals: 3.125 BTC + transaction fees.In mining pools, this reward is split among all miners according to their contribution to mining.If the block reward becomes 0 in the year 2140, the miner will receive only transaction fees.

Since there is no fixed time limit for mining,
Why is it unlikely that the reward will be blocked before 2140?
I am still not clear on this.

By 2140, all 21,000,000 BTC will be mined. From then on, miners will only receive transaction fees. I don't think we'll live to see 2140, but even in 2044, after the halving, the block reward will be 0.09765625.
This reward will be much smaller than transaction fees.
I don't understand what miners will do with such profits after several halvings. If the price doesn't rise, miners will go bankrupt.

[victor-uniform-solo]

A miner's profit consists of the block reward and the fees for processing all transactions included in that block.If a miner finds 1 block, the profit equals: 3.125 BTC + transaction fees.In mining pools, this reward is split among all miners according to their contribution to mining.If the block reward becomes 0 in the year 2140, the miner will receive only transaction fees.

Since there is no fixed time limit for mining,
Why is it unlikely that the reward will be blocked before 2140?
I am still not clear on this.

No fixed time limit for single block.
But there is fixed time limit for "batch of 2016 blocks" (2016 x 10min ... 2 weeks)

sum up:
1- initial block reward 50 BTC (year 2009)
2- difficulty adjustment every 2016 blocks (to be in line with planned 10 minutes between blocks)
3- block reward halving every 210 000 blocks (roughly 4 years)... one day (around y 2140) the block reward becomes 0 satoshi

...but even in 2044, after the halving, the block reward will be 0.09765625.
This reward will be much smaller than transaction fees.
I don't understand what miners will do with such profits after several halvings. If the price doesn't rise, miners will go bankrupt.

Yea, one big unknown.
I guess small/hobby miners won't mind.
Large mining operations are all about business competition ... so bankruptcies/acquisitions quite ordinary.
It has to be combination of price rise, mining efficiency and protocol improvements (perhaps include more transactions to get larger total fees) ... hope it's not going to be solved by general raising tx fees.

[mikeywith]

No fixed time limit for single block.
But there is fixed time limit for "batch of 2016 blocks" (2016 x 10min ... 2 weeks)

Your two statements contradict each other, if there is no fixed time for a single block then there can't be for 2016 blocks, the 1st block was mined on January 3, 200 that is roughly 9,147,600 minutes ago, according to your logic we should be in block 9,147,600÷10= 914,760
but we are at block 951,233.

[victor-uniform-solo]

No fixed time limit for single block.
But there is fixed time limit for "batch of 2016 blocks" (2016 x 10min ... 2 weeks)

Your two statements contradict each other, if there is no fixed time for a single block then there can't be for 2016 blocks, the 1st block was mined on January 3, 200 that is roughly 9,147,600 minutes ago, according to your logic we should be in block 9,147,600÷10= 914,760
but we are at block 951,233.

10 min not fixed in the meaning there is no action done after each block ... only after 2016 blocks blockchain checks whether that entire batch of blocks complies with the schedule (10 min average), adjusting the diff. accordingly.

As of the precision, difficulty adjustment is only sort of "correction". It won't work 100% precise as the final result depends on other variables like miners luck or hashrate fluctuation during that period.

[FP91G]

...but even in 2044, after the halving, the block reward will be 0.09765625.
This reward will be much smaller than transaction fees.
I don't understand what miners will do with such profits after several halvings. If the price doesn't rise, miners will go bankrupt.

Yea, one big unknown.
I guess small/hobby miners won't mind.
Large mining operations are all about business competition ... so bankruptcies/acquisitions quite ordinary.
It has to be combination of price rise, mining efficiency and protocol improvements (perhaps include more transactions to get larger total fees) ... hope it's not going to be solved by general raising tx fees.

By 2044, the simplest ASIC will likely consume ten kilowatts and be unsuitable for home mining. Large companies are already consolidating their power generation sources and building data centers that will handle both mining and AI calculations. I believe there will be no small companies left in this market in 20 years.
Bitcoin blocks are not infinite and can accommodate several thousand transactions depending on the size of the data. When transactions are few, fees are low, and miners receive little profit.

[mikeywith]

By 2044, the simplest ASIC will likely consume ten kilowatts and be unsuitable for home mining. Large

I believe the exact opposite is going to happen, unless btc price becomes ridiculously high when there a small profit to be made -- it will be the hobbyist and enthusiasts who mine btc, just like how it started back then before the large greedy companies got into the game.

[philipma1957]

By 2044, the simplest ASIC will likely consume ten kilowatts and be unsuitable for home mining. Large

I believe the exact opposite is going to happen, unless btc price becomes ridiculously high when there a small profit to be made -- it will be the hobbyist and enthusiasts who mine btc, just like how it started back then before the large greedy companies got into the game.

2012      10,500,000 coins left  price floated 6 to 30 bucks this year

2016       5,250,000 coins left price was 400-800
2020       2,625,000 coins left price was 4000-9000
2024       1,312,500 coins left price was 40,000-100,000
2028          656,250 coins left price will need to be near 200,000
2032          328,125 coins left price will need to be higher than 200,000
2036          164,062.5 coins left price has to be higher than     400,000

2040
2044
2048

I tend to think mining crashes down the road.

[FP91G]

By 2044, the simplest ASIC will likely consume ten kilowatts and be unsuitable for home mining. Large

I believe the exact opposite is going to happen, unless btc price becomes ridiculously high when there a small profit to be made -- it will be the hobbyist and enthusiasts who mine btc, just like how it started back then before the large greedy companies got into the game.

If Bitcoin's price doesn't rise, miners won't buy new equipment, and old ASICs won't be profitable after the halving in 2028.

Large companies still have cheaper electricity prices than many home miners, so their mining will be much more profitable than everyone else's.