Post
Topic
Board Bitcoin Discussion
Re: What will happen if all 21 million bitcoins are mined?
by
BlackHatCoiner
on 24/08/2024, 18:15:37 UTC
Offcourse its getting harder and harder and take longer each halving, but how is the bitcoin network gonna confirm transactions when there is no mining to be done?
There cannot be transactions without mining. Therefore, there has to always be an incentive to mine. Since the block subsidy will drop to zero, the bet is that the network will sustain itself by transaction fees.

and how honest will it be as in will the fees be super high will it be self regulated?
That's a good question. If fees are high, then that will discourage using it as currency, which will incidentally cause a decline in transaction fees. The answer to this question is that second layers are under development, which will allow you to transfer bitcoin off-chain. This can keep the network congested without paying outrageous amounts in fees.