Post
Topic
Board Bitcoin Discussion
Re: What might happen when Bitcoin reaches its 21million coins limit?
by
Silberman
on 23/02/2023, 20:19:40 UTC
Quote
I have thought of scenarios bothering on the kind of policy or how its operation would begin to function once it reaches the said limit.

An interesting bitcoin fact is that the protocol for the bitcoin network was designed with a limit of 21 million coins in mind. As a result, cryptocurrency miners will eventually be unable to generate any new bitcoins.

Currently, there are 19.15 million bitcoins in circulation. This leaves a few million bitcoin to be mined, which is one of the reasons mining is still a popular activity.

Read more at:
https://editor.guardian.ng/technology/10-facts-about-cryptocurrency-you-should-know/

 With this one known fact about Bitcoin, my question is what happens after the limit has been reached?

Nothing of note will happen, the halving guarantees that way before all the coins are mined the block reward will become too small for miners to rely solely on it, so at that time they will depend on the fees paid for each transaction included on the blocks they mine, the miners that fail to adapt will go out of business while those that remain will become more efficient, so nothing will really change if you think about this.