Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Bobcrypto on May 28, 2019, 02:16:56 PM
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This just my little analysis about bitcoin in the future especially if bitcoin 21 million are fully mined; and as many of us know, after few years there will be no more block reward for miners, hence the amount of all bitcoins supply would have ended.
Now, In this case, these miners may need to rely on transaction fees in order to maintain operations, but do you think these transactions fees will be enough to reward miners in the entire global or that may be some miners would have to reduce in their numbers to accommodate the transaction fees? Your thoughts
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I guess the price will increase significantly since people will be harder to get Bitcoins. I think it is the possible thing to happen, but I don't know when the block reward will end exactly. Do you know about the prediction? I think it will be interesting, it is a must to wait for. :D
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When the mining will end ( no more mining reward or creation of new btc), transactions on BTC would become very expensive so only large players would be able to afford transactions on the BTC- blockchain, and I think that at this moment BTC would be a digital index same as gold ,silver , Dex, s&p 500, ....ect.
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That means it is really only needed for fees from transactions because there are no more Bitcoin in the mine.
When the price of Bitcoin will be expensive beyond the current price, for Bitcoin transactions, it requires the cost of electricity, PCs and other mining equipment.
I mean, the fees from the transaction will be earned by Miner.