What happens when all bitcoins are mined?

5 answers

• Dec 28, 2021 · 3 years ago
  Once all bitcoins have been mined, the Bitcoin network will still continue to function. However, the primary incentive for miners, which is the block reward, will no longer exist. Miners will then rely solely on transaction fees to sustain their operations. This could lead to a shift in the mining landscape, as miners will have to compete for transactions with higher fees to ensure profitability. Additionally, the scarcity of bitcoins may drive up their value, making it more attractive for people to hold and use them as a store of value.
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• Dec 28, 2021 · 3 years ago
  When all bitcoins are mined, the Bitcoin network will enter a new phase where mining rewards will consist solely of transaction fees. This means that miners will have to rely on transaction fees to cover their expenses and make a profit. It's possible that this could lead to higher transaction fees, as miners will need to prioritize transactions with higher fees to maximize their earnings. However, it's also possible that advancements in technology and scalability solutions could mitigate the impact of reduced mining rewards.
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• Dec 28, 2021 · 3 years ago
  After all bitcoins have been mined, the Bitcoin network will continue to operate, but the role of miners will change. Instead of being rewarded with new bitcoins, miners will rely solely on transaction fees. This transition is expected to incentivize miners to prioritize transactions with higher fees, potentially leading to increased transaction costs. However, it's worth noting that this shift in incentives could also encourage the development of more efficient mining technologies and the adoption of alternative consensus mechanisms.
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• Dec 28, 2021 · 3 years ago
  Once all bitcoins are mined, the Bitcoin network will still function, but the mining process will undergo significant changes. Miners will no longer receive block rewards, and their main source of income will be transaction fees. This could lead to increased competition among miners for transactions with higher fees, potentially driving up transaction costs. However, it's also possible that the reduced supply of new bitcoins could increase their value, making them more attractive as a store of value and driving adoption and usage.
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• Dec 28, 2021 · 3 years ago
  After all bitcoins are mined, the Bitcoin network will continue to operate, but the mining landscape will undergo a major transformation. Miners will no longer receive block rewards and will have to rely solely on transaction fees. This could lead to increased competition among miners, as they will need to prioritize transactions with higher fees to remain profitable. Additionally, the scarcity of bitcoins may drive up their value, making them more desirable as a digital asset. Overall, the mining ecosystem will adapt to the new reality and find ways to sustain itself without the block reward.
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