KURTAULI Posted February 2, 2020 #1 Posted February 2, 2020 I was wondering, what will happen to bitcoin mining difficulty when all coins will be mined. In my opinion difficulty will decrease because there will be no more new coins to mine, only fee. what are your thoughts?
barbaris Posted February 2, 2020 #2 Posted February 2, 2020 I also thought about it. I think that when all bitcoins are mined, then the miners will only earn on transaction fees and probably transaction fees against this background can rise like the price of bitcoin itself. But these are just my thoughts, time will actually show.
sahil777 Posted February 2, 2020 #3 Posted February 2, 2020 it will cause high prices, i mean really high prices miner will increase their fee and because of demand and supply bitcoin will go to moon, but if its going to happen, because countries are becoming more strict towards bitcoin.
yuchan Posted February 5, 2020 #4 Posted February 5, 2020 Your opinion has a point, because after all 21 million bitcoins succeed in the mine. Then what remains is only enable fee.This will make the price of bitcoin more expensive, because the amount in circulation is very limited and can no longer be mined. But interestingly if there is no mining for bitcoin, whether bitcoin will remain as strong as it is today. Or instead will appear new coins that makes bitcoin replaceable.
spk_25 Posted February 5, 2020 #5 Posted February 5, 2020 The last bitcoin is estimated to be mined in the year 2140. Only 4 million bitcoins are left out to be mined. We have to wait upto 141 years to see what will happen when the last bitcoin in mined. So i think presently we can see no sudden changes in price until and unless there is a artificial demand created by someone.
Etude Posted February 10, 2020 #6 Posted February 10, 2020 I think it would likely take a very very long time for absolutely all numbers of existing coins to be fully mined where realistically it makes one wonder if the lifespan of a certain cryptocurrency for instance even Bitcoin would even last for say 100 years more.
toishi Posted February 11, 2020 #7 Posted February 11, 2020 21 hours ago, Etude said: I think it would likely take a very very long time for absolutely all numbers of existing coins to be fully mined where realistically it makes one wonder if the lifespan of a certain cryptocurrency for instance even Bitcoin would even last for say 100 years more. Some companies use a large amount of technology to mine crypto. And companies like that born every minute
Beercat Posted February 11, 2020 #8 Posted February 11, 2020 We will all be dead before the last Bitcoin is mined. I'm not worried about it. Even if things do not work out at that time, it will have fulfill some purpose inside its life. Funny how no one is asking how the middle east or oil companies can hang on after all the oil is gone, and that should be way sooner than that.🤔
Shekhar1992GL Posted February 11, 2020 #9 Posted February 11, 2020 I really don't know anything about Bitcoin mining and how it works, Means day by day minner mining bitcoins and bitcoin circulation in market keep increasing ??? am i right... who is deciding how much bitcoin remaining to minned, and how its mined with miner. Is new supply of bitcoin in market affect price of bitcoin... how much cost will it take to mine 1 bitcoin in single month...
Thepug Posted February 12, 2020 #10 Posted February 12, 2020 On 2/11/2020 at 1:06 PM, Beercat said: We will all be dead before the last Bitcoin is mined. I'm not worried about it. Even if things do not work out at that time, it will have fulfill some purpose inside its life. Funny how no one is asking how the middle east or oil companies can hang on after all the oil is gone, and that should be way sooner than that.🤔 You have made an excellent observation here, however there have been some Saudi Arabian princes that have evaluated what they are going to do after the inevitable oil crisis. They said how they are going to make more investments in to more capital, to produce the productive potential of other businesses in their economy. They can't rely on oil forever as it is only a finite source, like bitcoin. Potentially, after bitcoin goes to the end of its life, Bitcoin V2 might be introduced.
evet Posted February 12, 2020 #11 Posted February 12, 2020 New altcoins would die prolly, existing coins will continue to rise and monopolize the crypto market. But Im not really sure , we'll witness it when we get there
Devil2020 Posted February 19, 2020 #12 Posted February 19, 2020 If, once all the bitcoins have been mined, the entire world uses the digital currency as its primary medium of exchange, then it is possible that transaction fees will rise due to an increase in the demand for transactions. More-https://news.bitcoin.com/what-happens-bitcoin-miners-all-coins-mined/
Magdsolieman Posted April 6, 2020 #13 Posted April 6, 2020 Bitcoin mining has become more difficult due to the low percentage of mines and the multiplicity of many miners, so the race to obtain bitcoin has become very difficult and it is decided in favor of the most powerful processors around the world so I advise everyone who loves mining to start mining etherium and similar currencies it is easier
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