what happens when all bitcoins are mined ?

[Coinshot]

Bitcoin will be redundant by that time. There will be better technologies which will overtake this. PoW already shows signs of having lot of trouble.

But there already are better crypto currencies! faster, safer, PoS, X11, hybrids, better distributed, with better names etc.
First altcoin was Litecoin and it was already an improvement over bitcoin, but it didn't overtake bitcoin (not to mention that it was never LTC's devs intention).

Bitcoin doesn't have to be 'the best', it has to be 'good enough'. There will never be the ultimate 'the best' crypto, because there will always be a room for improvements. And if we all were to jump from one coin to another (new and better) one, all concept would collapse.

So the only question is: "is bitcoin good enough?"

Its still early days. One of those you mentioned might just replace it. You can not say with just a few months of evidence.

[FreedomCoin]

looking forward to 2017 to see what happens, i remember the halving that occurred in 2013.

[pawel7777]

looking forward to 2017 to see what happens, i remember the halving that occurred in 2013.

It sure going to be interesting, still long time to go tho. And think it's going to happen in 2016 not 2017:

Bitcoin Clock

Reward-Drop ETA: 2016-08-02 16:36:15 UTC (96 weeks, 6 days, 23 hours, 30 minutes)

http://bitcoinclock.com/

[elgimpo]

Shit will definitely be getting real

[zorke]

No one will be mining in 70 years unless Bitcoin is worth a ton of money. So it is do or die for the Bitcoin exchange rate. Otherwise we will never mine all of them.... unless we will have a difficulty decrease 

You don't get it. There will always be someone doing the job, because if few people are doing it, the ones doing it will get a lot of reward. It gets itself balanced. Satoshi had it all planned.

I think his point is that the block reward will be very little in 70 years (and is also predicting that TX fees will not increase substantially) therefore even with a low difficulty there would not be much money to be made via mining unless the price of bitcoin is very high.

I personally think that TX volume (and TX fees) will increase substantially over the years making the block subsidy less important

[Oscilson]

If the transaction fee is high enough, the network will still be secured by miners.

[zebedee]

Bitcoin will be redundant by that time. There will be better technologies which will overtake this. PoW already shows signs of having lot of trouble.

Lol, are you living in the same world as me?  Looking quite good and healthy from where I'm sitting.

[Amph]

Bitcoin will be redundant by that time. There will be better technologies which will overtake this. PoW already shows signs of having lot of trouble.

no, bitcoin can be upgraded, it's open source remember...

[CryptoCarmen]

No one will be mining in 70 years unless Bitcoin is worth a ton of money. So it is do or die for the Bitcoin exchange rate. Otherwise we will never mine all of them.... unless we will have a difficulty decrease 

You don't get it. There will always be someone doing the job, because if few people are doing it, the ones doing it will get a lot of reward. It gets itself balanced. Satoshi had it all planned.

yes and with technology progress, much less electricity will be needed to make 1 transaction.

[mavericklm]

IF no one will mine, everyone will shut down, then bitcoin=0...

[rivoke]

The price should be going up at the end right?

[thejaytiesto]

The price should be going up at the end right?

To the contrary. From what I understood, at the end of the mining stages the price should be extremely stable and very high, like a 1 million dollar per coin minimum, if everything went accordingly and adoption happened. We will all be dead by then so whatever.

[incomefx]

it will be redundant for sure.

the price might be vary though

[Coinshot]

Bitcoin will be redundant by that time. There will be better technologies which will overtake this. PoW already shows signs of having lot of trouble.

no, bitcoin can be upgraded, it's open source remember...

The stubborn community will leave it till its too late. They will upgrade but by then the other will have overtaken.
Bitcoin is paving the way and breaking barriers but its not the end game.

[sandykho47]

After all bitcoin is mined
Miner only get bitcoin only from tx fee 

But, if bitcoin price never raise up
Only few people will mine it

Maybe bitcoin will add Aux-PoW / PoS / something else
Or hope someone want mine without get profit

No one will be mining in 70 years unless Bitcoin is worth a ton of money. So it is do or die for the Bitcoin exchange rate. Otherwise we will never mine all of them.... unless we will have a difficulty decrease 

It will be difficult for anyone to mine bitcoin 
If bitcoin price is low

[CryptoCarmen]

After all bitcoin is mined
Miner only get bitcoin only from tx fee 

But, if bitcoin price never raise up
Only few people will mine it

Maybe bitcoin will add Aux-PoW / PoS / something else
Or hope someone want mine without get profit

No one will be mining in 70 years unless Bitcoin is worth a ton of money. So it is do or die for the Bitcoin exchange rate. Otherwise we will never mine all of them.... unless we will have a difficulty decrease 

It will be difficult for anyone to mine bitcoin 
If bitcoin price is low

It is hard for anyone to mine if to many does mine. if price is low, not many will mine, so it will be easily to mine then.

[money420weed]

Bitcoin will be redundant by that time. There will be better technologies which will overtake this. PoW already shows signs of having lot of trouble.

Lol, are you living in the same world as me?  Looking quite good and healthy from where I'm sitting.

He is spreading FUD. I have seen a lot of posts trolling PoW, so maybe the thread about people buying up accounts to spread propaganda is correct (LOL).

By the time that all bitcoin is mined the TX fees per block will hopefully be enough to cover the cost of mining. If it does not then the difficulty will decrease until the cost of mining is < the average amount of TX fees per block. If the total TX fees are not high enough then the network will not be very secure.

[snappa4ever]

I don't think changing the algorithm to Proof of stake is possible because it's very complex process.

[Coinshot]

I don't think changing the algorithm to Proof of stake is possible because it's very complex process.

Its quite easy. Just have a snapshot and then give the current holdings in the new genesis block and its sorted.

Thats not the problem, the issue is to make them go over. Keep in mind that there are huge vested interests in mining who will do all to prevent it. On here you can see the older members claiming that mining is the only way to go. No coincidence that most of them started off by minng and now have spent on equipment.

[Ayers]

looking forward to 2017 to see what happens, i remember the halving that occurred in 2013.

halving is scheduled for 2016 actually, the price will rise for sure