Post
Topic
Board Bitcoin Discussion
Re: Is it possible that Bitcoin becomes quiescent?
by
Kersh768
on 14/11/2019, 16:36:07 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?
I think the system of blockchain would make it work for those people who will be mining bitcoin in the future. As they mine blocks, it will just circulate making its value stay still or go higher if lots of transactions will be made. On the other hand, there's also a possibility that bitcoin would be quiscent as time passes by. It will end up being like fiat which has a small growth of value from time to time. Though that's the case, we should just focus on what we have right now and on what we can achieve in the future, let fate decide on what will happen to bitcoin as we vanish in this world.