Hi, I just joined this forum. I have searched various articles on bitcoin, altcoin, and the use of cryptocurrencies. In every article it is mentioned that bitcoin is only 21Million BTC to be mined. then my question is, What happens if all bitcoin (21Million BTC) has been mined? Are miners going to mine alt? or supply will be added? please explain to me so that I can understand more.
When the day comes that the number of bitcoins reaches the limit set by 21 million coins, there will be no more Bitcoin bonuses for the miners but remains a need to validate transactions and store them on blocks in the blockchain so the miners will only benefit from fees Transactions.
Indeed. When we run out the 21 million bitcoins miners will only get paid in transaction fees whenever they create a new block and this could help drive up the price of bitcoin because there will be nothing increasing the supply of bitcoins.