Post
Topic
Board Bitcoin Discussion
Re: What happens when we hit 21,000,000 bitcoins?
by
BlockHazard
on 04/09/2017, 23:36:53 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?
Still same... but the bitcoin that will be in the miner is not from the production of the specified bitcoin but from the fee incurred when we send bitcoin, just think, Bitcoin yesterday just did segwit. yup ... the increasing year Bitcoin might not like this course, would be much of an upgrade and will be a lot of innovation in Bitcoin to make Bitcoin as a finished product and ready to get into the mainstream in payment system like sathosi goal in making bitcoin. remember .. every problem there will be a solution.