Its year is 2024 and approximately 1.5 million bitcoins are left. What can we predict and prepare for until 2140 when bitcoin will be mined?
Could we increase the amount of bitcoin, or will it just end? What will happen second before and after Bitcoin reaches its limit?
How is the 21 million bitcoin cap defined and enforced is what you need to read, if you have yet read it.
Bitcoin has a Proof of Work blockchain and with each new Bitcoin block, miners will always receive transaction fee by confirming transactions for Bitcoin users. It is true now and after 2140 even when all 21 million bitcoins mined and existing in total supply. Before 2140, with each new found block, Bitcoin miners receive block subsidy (reward), that halves every four years.
Controlled supplyBitcoin Equivalent Network Timesure ik so,
the transactions will continue, but the platform will be more dangerous because miners will not be mining because of the loss of energy with no reward. So, the Bitcoin at the end could fall because no one will be motivated to mine it, and the price could go hypothetically up because there will be no more source to get new bitcoins from, transactions so blockchains will continue to generate.
Is there anything we can do to stop these attacks when no one will stay mining? or....