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Author Topic: What will happen once all 21 million Bitcoins were mined?  (Read 978 times)
FanOfBtc
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May 09, 2014, 06:15:21 PM
 #1

Hi All,

What will happen once all 21 million Bitcoins were mined?

miners cannot earn any more coins, then who will maintain Bitcoin ledger?

Please excuse if it is a dumb question  Grin

Thanks,

Fan Of Btc

Jaya ho BITCOIN !
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dashingriddler
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May 10, 2014, 09:58:07 AM
 #2

It will happen approx year 2140.
The idea is that the transaction fee for every transaction would increase in value by then and these fee have been given to the miners who create the block with those transactions - so there still continues to be an incentive.

CENTRA

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FanOfBtc
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May 10, 2014, 05:42:43 PM
 #3

Thank You

I have one more question difficulty levels are going day by day MHs to GHs now everyone is talking about THs.
What ever MHs was fetching now GHs are also not able fetch, we required THs to get similar yield compared to past

BTC/kW yield coming down day by day one day miners realizes it is not feasible, then who will maintain the ledger?

either transaction fee has to go up or BTC/kW should go up, if transaction fee goes up is it feasible to use BTC?

Please let me know

Regards,

Fan Of Btc

Jaya ho BITCOIN !
dashingriddler
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May 11, 2014, 04:27:26 AM
 #4

Thank You

I have one more question difficulty levels are going day by day MHs to GHs now everyone is talking about THs.
What ever MHs was fetching now GHs are also not able fetch, we required THs to get similar yield compared to past

BTC/kW yield coming down day by day one day miners realizes it is not feasible, then who will maintain the ledger?

either transaction fee has to go up or BTC/kW should go up, if transaction fee goes up is it feasible to use BTC?

Please let me know

Regards,

Fan Of Btc
Yes miners get outdated when there is a new technology or new miner manufacturer enters the market and delivers the miners. Those outdated miners cannot stay for long as they will become unprofitable with in few months. Now it will be the turn of the updated technology or the miners from new miner manufacturer to maintain the ledger.

On the other hand there are hard limits on technology which are not easy to break. We used to see 25-33% difficulty increase in the later half of 2013 as it was pretty much the time ASIC started to get wide spread. Now it is in range of 10-15% as there are new players but not new technology. This % would generally continue to decrease unless there is a new break through technology.

CENTRA

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