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
When most of the coins are mined then this means that miners will need to get their money mostly through the fees that they charge, but this is not really a problem if for you the cost of a transaction is a problem you can send a transaction with a very low fee and eventually it is going to be confirmed once the network is not as busy, so I do not see any kind of problem.
First of all, we must not forget that this event will not happen soon. Those guys that will see it, will be probably happy to realize that they are rich (if they were holding BTC for long). Bitcoin will be very expensive.