Cryptocurrency Q&A
What will happen to bitcoin after all 21 million are mined?
What will happen to bitcoin after all 21 million are mined?
Maria
Mon Jul 01 2024
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6 answers
1712
As a keen observer of the cryptocurrency market, I'm curious to know: What will be the fate of Bitcoin once all 21 million units have been mined? Will the scarcity of new coins drive up prices even further? Or will miners shift their focus to alternative cryptocurrencies, causing a decline in Bitcoin's dominance? Will the network's security be affected as mining rewards diminish? And how will this milestone impact the overall cryptocurrency ecosystem? The answers to these questions could have profound implications for investors, miners, and the general public alike.
6 answers
EnchantedNebula
Wed Jul 03 2024
Once the total supply of 21 million bitcoins is reached, estimated to occur in the year 2140, the mining process will undergo a significant change.
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CryptoLord
Wed Jul 03 2024
The network will cease generating new bitcoins, marking the end of the initial block reward.
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Leonardo
Wed Jul 03 2024
Despite this, miners will still have an incentive to continue their operations.
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CharmedEcho
Wed Jul 03 2024
Transaction fees, which are collected by miners for processing and confirming transactions on the blockchain, will become the primary source of revenue.
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Raffaele
Tue Jul 02 2024
As the supply of new bitcoins diminishes, transaction fees are expected to increase in value, providing miners with a growing share of the overall block reward.
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