iamsheikhadil Posted September 29, 2019 #1 Posted September 29, 2019 Let's say all government legalised bitcoins. It's now a part of economy and people transact through it. But what will happen when the last Bitcoin is mined? Will that be the end of Bitcoin? Or will another crypto take its place? Will that not cause an inflation? And how even can people transact through it when mining of it stops?!
Xarv Posted September 29, 2019 #2 Posted September 29, 2019 If I remember correctly the last bitcoin won't be mined until somewhere around 2150, as we approach to the last bitcoin mined logically it's value will increase... There won't be any inflations thats the whole point of Bitcoin A.K.A Digital Gold, unlike FIAT currency it's not printed out of thin air which causes inflation in the economy due to its unlimited supply.
philosophy Posted September 29, 2019 #3 Posted September 29, 2019 4 hours ago, iamsheikhadil said: Let's say all government legalised bitcoins. It's now a part of economy and people transact through it. But what will happen when the last Bitcoin is mined? Will that be the end of Bitcoin? Or will another crypto take its place? Will that not cause an inflation? And how even can people transact through it when mining of it stops?! When the last bitcoin is extracted, states will take control of this cryptocurrency and, through various manipulations, will be able to adjust its price. When the last Bitcoin is Mined, it will be replaced by another one, possibly etherium.
Ali saher Posted September 29, 2019 #4 Posted September 29, 2019 I don't think bitcoin end and it's value go down because this is now a third currency for trading all in world. I think if all countries allow this currency then they make good amount tax on this they need just add some rules
nightfall91 Posted September 30, 2019 #5 Posted September 30, 2019 it seems to me that this will never happen)
schturman Posted September 30, 2019 #6 Posted September 30, 2019 You asked a very bold question, because it is believed that the last bitcoin will be mined in 2140. Trying to predict events with a horizon of 120 years at a frantic pace of development of engineering and technology is a prediction for futurologists. From my point of view, the total number of bitcoins of 21 million units will not be changed. If by that time the technology would work and be in demand, then the number of bitcoins in circulation will be much less (due to losses and other circumstances), and bitcoin itself will be very expensive.
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