Post
Topic
Board Beginners & Help
Re: what will happen after 21 million bitcoins are mined? (in layman's terms)
by
Welsh
on 22/09/2022, 09:47:19 UTC
No more block rewards but there would still be transaction fees.  However, doesn't seem this would make up for block rewards no longer being a thing.  Appears there would be an increase in TX fees, but the question is will they be reasonable or unbearable?
They need to be enough to make mining/processing the transaction worth it. Although, when you compare it to other methods of transferring money, it works out similar. Since, most banks charge for international payments to be processed, and that can actually be much more expensive even compared to when Bitcoin's network was at it's most bloated, and therefore most expensive.

Plus, I envision that fees will be improved upon even further. Obviously a lot of users talk about Lightening, and segwit. These will either be improved further or new implementations will be made with the ultimate goal of making it worthwhile for everyone. Therefore, decent fees, and decent reward.