Quote from: krigger on November 24, 2017, 10:27:24 PM

Quote from: Gloiri on November 10, 2017, 09:28:03 AM

Quote from: salihno71 on November 07, 2017, 10:42:20 AM

Quote from: WaveFront on November 05, 2017, 08:00:06 PM

Hello,
I have several questions?
The maximum supply amount of bitcoins in circulation is 21 Millions.
The amount that are mined so far is more than 16 Millions (more than 79%)
What is going to happen when the 21 Million limit is close to be reached?
Since it going to be more and more difficult to mine bitcoins, does that mean that the price of a transaction is going to be extremely expensive?

Thanks for taking the time to answer :-D

21 million should be reached in 2140. By then many things will be incomprehensibly different from todayso it's practically impossible to predict. Just imagine someone in 1880 trying to predict what will happen in 2030... Unless there is some groundbreaking invention which will enable people to live +200 years, you and all of us will be long gone by then.

I heard a documentation saying that its reached by 2040. My friends are saying that bitcoin will go to zero after it has received his supply limit. I think the price will be expensive.

Many people will hold it because it will be very difficult to obtain bitcoins.

You are literally just talking crap without knowing what you are even talking about.

The earliest estimations for when the final Bitcoin would be mined is in the early 2100's and most estimates put it sometimes between 2120-2150. Of course, it all depends on the amount of hash power and mining done. If governments and large corporations put more than was expected, it could be done sooner, but 2040 would be absolutely preposterous, not to mention BTC will never go to zero. There would always be someone who wants to buy it.

Probably we won't be alive to see that, the only scenario BTC will go to zero is if a fork happens and the winning chain will be the forked chain.
Anyway this 21M coins limit shouldn't fear users as it can be changed with enough consensus, I think it shouldn't be so hard.

By that time we are going to have a large amount of transactions going so the fees are going to be enough to cover the mining costs, it's too far to think about it but we should be okay considering the uptrend in the cryptocurrency users.