Eventual State of Bitcoin?

[nuuuitsjdragon]

What do you guys think will happen when Bitcoin is eventually mined to completion?

I’d like to hear some of your theories regarding this eventuality.

I personally think prices should go up but there’s also a possibility that it will not reach insane amounts since demand for it would increase like crazy.

There wouldn’t be enough bitcoins in circulation for usage, becoming a part of history/collector’s item which would stabilise the price or even drive it downwards... we never know! 

What are your thoughts on this?

[barbaris]

It seems to me that the price after the full extraction of bitcoins should be very high. Although I met other opinions. That bitcoin can simply depreciate and become useless. I think only time can show us everything.

[nuuuitsjdragon]

I feel like it will not go to like $100,000 or anything near that price because it is finite!

I don’t know that’s just my theory.

If I really believed in BTC eventually being at $100,000 I think I would start collecting all rain, tips, giveaway and never ever gamble them but just wait for it to appreciate lol.

[j240]

Some experts say bitcoin will reach $40,000 next year and bitcoin being mined rewards will be halved , yep i think bitcoin will rise more but not above 100k, its just me

[rajamishra]

hello @nuuuitsjdragon its true  not able to reach $100k but its break his old record ,i also had some expert opinion about btc rising due lunch of facebook coin investor should not be let the btc down for facebook coin that's the main reasons  for rising so rapidly also rise till the coin launched after that may be fluctuated.  

[cryptofly]

As we get close to mine last bitcoins price will increase dramatically, only big companies will be doing mining like bitfury and so.  Small miners will bust or will change positions to other coins.  Even Ethereum will become POS in the near future, so some other coins will take their places.  Good luck.

[Darko]

I kinda expect it to be the equivalent of what gold is today for every currency in the world. Basically it will be gold for every crypto currency, price will probably stabilize at one point and stay on the same level while all the rest will fluctuate.  Would be cool if the price gets to 100k$ though.  

[williamshennie9]

I'm not sure what the price will be at that stage, but I suspect the price will be stable. Also remember that people lose bitcoins each day, so there will be less than 21 million in existence, which could mean deflation for bitcoin.

[wry]

While I love the Bitcoin project, my thinking for the endgame, when mining rewards drop significantly or are zero, is not so optimistic.

Right now the block reward is what 12.5 BTC dropping to 6.25 next year.  So right now a block is worth just over 125,000 plus TX fees, which on the last block ( https://www.blockchain.com/btc/block-height/582047 ) were worth .97 BTC, so call it another 10K, or 135,000 total.  Now, a BTC block is about 2000 or so transactions, which implies a necessary TX fee of (135K USD/ 2000 TX) 67.5 USD.  I don't think anyone is going to want to pay 67.50 USD for a bitcoin transaction.

Now we know BTC has been worth a lot less, say 3200 USD, so if we use those numbers, we're still paying (43,200 / 2000) = 21.60 USD maybe enough if you are moving Darko's bars of gold, but a lot if you are buying much of anything.

Hopefully, solutions will emerge, but right now, I think there's an issue with how miners are compensated in the endgame.  Fortunately, that day is aways away. 

[wngo123]

Quote

I personally think prices should go up but there’s also a possibility that it will not reach insane amounts since demand for it would increase like crazy.

I also expect the prices to go up to about up to $60k and then stabilize around 20k - 30k for a few month

[nuuuitsjdragon]

50 minutes ago, wry said:

While I love the Bitcoin project, my thinking for the endgame, when mining rewards drop significantly or are zero, is not so optimistic.

Right now the block reward is what 12.5 BTC dropping to 6.25 next year.  So right now a block is worth just over 125,000 plus TX fees, which on the last block ( https://www.blockchain.com/btc/block-height/582047 ) were worth .97 BTC, so call it another 10K, or 135,000 total.  Now, a BTC block is about 2000 or so transactions, which implies a necessary TX fee of (135K USD/ 2000 TX) 67.5 USD.  I don't think anyone is going to want to pay 67.50 USD for a bitcoin transaction.

Now we know BTC has been worth a lot less, say 3200 USD, so if we use those numbers, we're still paying (43,200 / 2000) = 21.60 USD maybe enough if you are moving Darko's bars of gold, but a lot if you are buying much of anything.

Hopefully, solutions will emerge, but right now, I think there's an issue with how miners are compensated in the endgame.  Fortunately, that day is aways away. 

Good point.

I was thinking of this exact issue - How are miners going to be compensated for finding blocks when BTC is eventually depleted?

Were there any technical implementations put into place by Satoshi to prevent exactly that from happening?

Those transaction fees do not need to be at that level before many people (myself included) will shy away from using BTC as a transactional currency, instead choosing to use it as a storage of value.

I guess when the day comes, we’ll know.

[Kate]

I think that adoption will be one big problem and also the price will boom up like very high if people want to buy it somehow which is sad hopefully it happens slowly. 

[ceastem]

I think the price will go up but the transaction fees will shoot up as well. That's why I don't really see myself Hodling till the last bitcoin is mined. Gotta be careful.

Although I still have high hopes that it will skyrocket anytime soon though despite eveything I've said. Haha

[Etude]

If the eventual state of Bitcoin goes to such extent of $100,000 per coin it would be so difficult to purchase and use it then.

[DERCRAFT]

The exchange rate of a currency such as Bitcoin is formed due to active demand, as is the case with other foreign exchange assets. But since bitcoins have a low overall capitalization, massive excitement and large players strongly influence the exchange rate of bitcoins. Global demand and decline of any electronic currency occurs regularly, and this depends on the willingness of users to buy electronic currency. The rate of a cryptocurrency such as Bitcoin is growing with high demand for any cryptocurrency. If there are players on the market ready to buy this currency, then the rate will constantly grow. Now it’s hard to say exactly when the price will change dramatically.