Post
Topic
Board Bitcoin Discussion
Re: Is it possible that Bitcoin becomes quiescent?
by
mrdeposit
on 14/11/2019, 10:02:05 UTC
In the year 2130 all of the Bitcoins will have been mined and the only reward at this point is transaction fees,if most people are using Bitcoin just as a store of wealth, then there are very few transactions, which means there is very little reward for mining and so a lot of computers would pull out of the Bitcoin network. Would this be a problem? If large Bitcoin transactions occured sparingly in 2130 and beyond, would the Bitcoin concept still work?
With the current 18 million supply and $8800 worth, there are billions of volumes, therefore there will be much more than that in 2130. If the bitcoin was the only coin on the market, it could be right but the use of bitcoin to get others, and the possibility of being useful as a future payment, rejects what you say. Years later, there is even the possibility that it will be used instead of the states' money.