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Author Topic: after whole bitcoin are minned  (Read 2825 times)

Offline gourav787

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after whole bitcoin are minned
« on: August 09, 2020, 06:37:55 PM »
There all total 21 million bitcoin and all bitcoin would be  mined around 2140. What will happen to mining? Would it still exists?

 

Do not forget that transaction fees are paid also to miners including the mined 12.5 bitcoin. At the time, there would be no more mined bitcoin but miners would profit from the transaction fees which might be higher .
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after whole bitcoin are minned
« on: August 09, 2020, 06:37:55 PM »

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Offline Astra

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Re: after whole bitcoin are minned
« Reply #1 on: August 10, 2020, 05:44:33 PM »
If all bitcoins are mined, miners will only serve transactions. However, most likely, in one hundred and twenty years everything will happen automatically, without their participation. If, of course, bitcoin still exists in this form.

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Re: after whole bitcoin are minned
« Reply #2 on: August 12, 2020, 07:34:09 PM »
If all bitcoins are mined, miners will only serve transactions. However, most likely, in one hundred and twenty years everything will happen automatically, without their participation. If, of course, bitcoin still exists in this form.
Yes, no one knows what will happen to Bitcoin and cryptocurrency in general in a hundred and twenty years. In any case, we are not destined to find out. It is unlikely that Bitcoin will live up to this time in the same form in which we know it now. Anyway, will the cryptocurrency still exist by then? Soon, humanity will go beyond the solar system. What will be the price? Perhaps even gold will give way to eternal value to something new.

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aiviaa485

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Re: after whole bitcoin are minned
« Reply #3 on: August 13, 2020, 10:57:03 PM »
At the time, there would be no more mined bitcoin but miners would profit from the transaction fees which might be higher .
The answer to this thread is that the OP himself answered it and this is something that is easy and simple.

If Bitcoin runs out in the mine:
-Bitcoin in circulation is only 21,000,000
-Transaction fees will be expensive.
-Everyone will want to own Bitcoin.
-Bitcoin transactions are widely used by miners.

IMO

Offline wahyudi

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Re: after whole bitcoin are minned
« Reply #4 on: August 14, 2020, 06:03:49 AM »
Bitcoin is like gold mining.  Or in other words, the mechanism for issuing new Bitcoin units is done by emulating gold mining, which is made rare and difficult and expensive to mine.

 

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