Quote from: kr1p on February 01, 2018, 12:30:37 PM

Hi everyone,
I am wondering this about the future of bitcoin:
As we all know, bitcoin network security can only be achieved through a lot of mining machines all around the world. The incentive for miners is to get a reward in bitcoin while they provide hashing power.
As bitcoin network is capped to 21 million bitcoin, what will happen when we reach the cap as only a very small inflation is planned to emit new bitcoins then? I mean, what will happen to all these miners who provide a lot of power to secure the network if only a very tiny fraction of bitcoin can be emitted as a reward for them?
If miners who need to provide more and more power to secure the bitcoin network get only tiny fractions of bitcoin as reward when we reach the cap, that would mean the price of bitcoin needs to raise a lot to secure the incentive to mine for miners...In other words, at a certain point, if the price of bitcoin is too low, the miners will go away and the bitcoin network will not last.
What do you think about that?
Thanks for your feedbacks

We might think several scenarios that will happen to bitcoin incentive in terms of mining as time goes by. When the price of bitcoin goes high, then we can expect that the incentives of mining will be big as well. But we cannot deny that there will be possibilities such as hoarding of bitcoin might happen. What will happen next? The supply of bitcoin will be lessen and miners will surely cannot gain the amount that they are expecting.