Post
Topic
Board Bitcoin Discussion
Re: What happens when we hit 21,000,000 bitcoins?
by
MiF
on 30/08/2017, 09:28:50 UTC
This morning I was talking about this with a buddy of mine.

Right now we have miners all over the world trying to solve this exponentially hard algorithm to earn their bitcoins. That is their incentive and that is what drives them to do so.

What happens when we remove that incentive to "mine" aka "verify transactions" on the blockchain? What I'm basically asking is what happens when we hit 21,000,000 bitcoins from the perspective of the miners?

If it will reach the 21 millions bitcoins then another cryptocoin were going to be mine and will have the chance to arise maybe it will be the ethreum because it was 2nd to bitcoin. But still bitcoin will exist because we always aim for bitcoin only the value of each countries will vary.