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2396793 No.2396793 [Reply] [Original]

So if I understood it correctly, once there are 21 million bitcoins, mining is no longer possible?

>> No.2396831

Also, once that happens, will bitcoin finally to stabilize?

>> No.2397173

>>2396831
Not necessarily, its value will always represent what it's worth to people

>> No.2397227

>>2396793
Mining still happens AFAIK but its for transactions fees rather than mining new bitcoin. Mining is how the network runs, without mining or some form of blockchain verification, there is no crypto

>> No.2397237

>>2396793
BTC rewards go down geometrically. There will never be 21 million bitcoins.

>> No.2397297

I was wondering this the other day and looked into it.

The assumption is that once all of the actual coins are "mined" or when mining gets to the point of where you are only getting a percentage of a single coin for completing a block, the transaction fees will elevate due to increased use/demand via transactions. Miners will then be competing for transaction fees.

ASIC miners will also become faster/more efficient and cost effective to run and some of the bigger mining operations might shut down bringing the network back to a more decentralized/individual level.

If the value of Bitcoin really does reach 10-20k, which isn't unrealistic, then even getting 1 coin as a mining reward or a certain amount via transaction fees, people will still have incentive to mine.

>> No.2397449

There is barely any mining for actual coins nowadays, just tx fees. Good thing is that tx fee rate will stop increasing at one point though.