Imagine that in some years only ~50 bitcoins will be bornt every day. Miners will not afford mining cost EXCEPT if bitcoin price will rise above 50.000$
So in a few words only if miners can afford from their rewarded BTC, the mining cost. Only then bitcoin will survive. Due to halving, price will rise because if a miner finds pricy his equipment now, then he will retire 4 years later.
Will miners that will mine blocks in the year 2136, be happy with their tiny reward + fees? If they can mine, it means that they will afford the electricity meaning: 1 satoshi will be much more expensive than now.
So in a few words only if miners can afford from their rewarded BTC, the mining cost. Only then bitcoin will survive. Due to halving, price will rise because if a miner finds pricy his equipment now, then he will retire 4 years later.
Will miners that will mine blocks in the year 2136, be happy with their tiny reward + fees? If they can mine, it means that they will afford the electricity meaning: 1 satoshi will be much more expensive than now.
No.
Mining difficult adjusts itself to the hasrate.
If miners leave, it will be cheaper to mine so it will always be profitable. If miners leave it will become cheaper to mine a block, if miners join again, it will become expensive again.
Perfect system
