In the year 2140, a monumental event is set to unfold in the world of cryptocurrencies: the completion of Bitcoin mining. As the last of the 21 million Bitcoins is mined, the digital landscape will witness a paradigm shift. With no new supply, scarcity will drive demand, potentially skyrocketing the value of existing Bitcoins. This landmark moment will reshape the financial ecosystem, leading to new investment strategies and economic models. Brace yourself for the remarkable transformation of the cryptocurrency realm as we know it.
With the conclusion of Bitcoin mining in 2140, miners will rely solely on transaction fees to sustain their operations ?
While bitcoin mining inductions pay off no more than 2 or three years, and if the miner has a ready place for mining, where you can quickly connect an ASIC without investment, then the ASIC can be boiled down in 12 months or 15 months, which depends on the cost of electricity. I don't know miners who plan investments for 10 years or more.
Exactly that.
As a miner I have zero care for 2140
I would care more for 2052, but I will be pretty old by then (95) so I do not care that much about 2052.
If you are under 30 you will be about 59 in 2052 so concerns about that year and BTC values make some sense.
If I were young My solution would be mine BTC and hodl plus mine LTC/Doge and hodl.
2052 is too late to solve that issue as there will be no time for official discussion by email. Actions should start be taken about this no less than 5 years before it happens, but even then I feel like it should be addressed a halving or two (or even three) before 2052, before minimum transaction fee goes to hell.
Normal and priority transaction fees would be fucked long before 2052 though.