Post
Topic
Board Bitcoin Discussion
Re: Is it possible that Bitcoin becomes quiescent?
by
agentx44
on 14/11/2019, 18:38:28 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?
If we are going to look at bitcoin during those times where technology has already advanced massively and cryptocurrency is just a common currency, we can say that bitcoin may end up being quescent. Bitcoin has been mined for so long and there are some experts telling us that at some point of time, it will become inactive. Having that worst case scenario, we should be thankful because we may get to live in a world where bitcoin will still be mined and only those who lives on those years will experience the worst thing that may happen to bitcoin.