Post
Topic
Board Bitcoin Discussion
Re: Will bitcoin die as soon as the last block is mined?
by
ConorMcgregor
on 16/02/2018, 16:17:17 UTC
Right now we're approaching about 17 million out of 21 million possible bitcoins. When we reach the max supply, what incentive would miners have to continue mining and verifying transactions? Sure they can still collect fees, but why not mine newer and more profitable coins where they have the chance to collect both fees and new coins?

What's stopping the entire blockchain from grinding to a halt, prohibiting users from conducting transactions, and thereby making bitcoin worthless?

The gauge is 2140 in view of the square reward dividing recurrence of four years. As indicated by math and learning that there are 32 dividing occasions, in 2136, the piece reward will yield 0.00000168 BTC every day, which is 0.00000042 BTC per square. That is 42 satoshis.

It's questionable that there could be one extra dividing, to a piece reward of 0.00000021 BTC, yet that would require a noteworthy convention adjustment since the quantity of Bitcoin would then surpass 21 million. Furthermore, to go past that, there'd must be a convention alteration to expand distinguishableness past eight decimal spots. It is far, far to ahead of schedule to stress over both of these, in light of the fact that we're over a century from this issue.