~snip~
I'm just curious to know what it will be like when the block reward is less than 1BTC. At some point in history (I don't know if I'll be alive to see this in the future, I believe it will take decades) they will have to review whether 8 decimal places are enough for Bitcoin.
I'm just curious to know what it will be like when the block reward is less than 1BTC. At some point in history (I don't know if I'll be alive to see this in the future, I believe it will take decades) they will have to review whether 8 decimal places are enough for Bitcoin.
This will happen much sooner than you think, and even if you are a little older person, it is very possible that you will experience it, considering that miners will receive less than 1 BTC after block 1 260 000, and that the next halving will happen on the block 840 000 in a few months. If I calculated correctly, it will happen at the halving in 2032. If we assume that the price of BTC will rise significantly by then, miners will still have the motivation to mine, and they will always have earnings from fees.
Controlled supply
It's really true, this is much closer than I imagined, so it means that following the logic of supply X demand, today we can acquire some fraction of bitcoin for a relatively low value than compared to what it will be in 2032 when the reward per block will be only 0.78125 BTC. I'll be happy if I can witness this moment, less than 1BTC per block will be a historic fact.