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7942582 No.7942582 [Reply] [Original]

Will bitcoin die or become a valuable commodity?

>> No.7942708

Bitcoin will become unprofitable to mine long before that amount is reached.

>> No.7942787

>>7942708
I'm talking about trading. It's already unprofitable to mine.

>> No.7942822

>>7942582
>after 21 million
Are you fucking retarded OP?
There will NEVER EVER be 21 million Bitcoins in existence. The amount that have been mined just gets closer and closer and closer to 21 million, forever, without ever actually reaching it.

>> No.7942884

>>7942822
>Are you fucking retarded OP?
Yes I'm a no-coiner asking retarded questions because I legitimately want to learn about crypto but I know almost nothing aside from the basics of the blockchain.

>> No.7942900

>>7942822
jesus christ

>> No.7942903

>>7942708
Lies. Bitcoin value will follow difficulty rises. Then after all Bitcoins are mined, transaction fees will be enough to pay miners. Which they already do. The random 25 BTC per a block is not the only form of mining payment.

>> No.7942910

>>7942822
wrong, BTC per block will halve from 1 sat to 0 (rounded down) at block 6930000

at this point 20999999.97690000 BTC will have been mined and no new BTC will ever be issued

so in 2140 there will be no new Bitcoins ever

>> No.7942911
File: 21 KB, 285x285, nanoxrb.png [View same] [iqdb] [saucenao] [google]
7942911

>>7942582
It will be replaced by NANO.

>> No.7942917

>>7942903
>Then after all Bitcoins are mined, transaction fees will be enough to pay miners.
High enough to pay miners, but low enough to make 51% attacks very easy. So fees must rise high enough to ensure security but this will kill its usecase as a currency as we saw happen with Bitcoin Segwit.

>> No.7942939

Wasn't there talk that the blockchain might reset and start back at zero?

>> No.7942954

>>7942917
Cheap transactions are fine if your dealing with 100000 transactions. Bitcoin will upgrade like all software does. Making it a usable currency still and by then probably move to proof of stake anyway, making any 51% attack too expensive to properly deploy.

>> No.7942985

>>7942582
Civilization will before 21 million can be mined.

>> No.7943006

>>7942985
*collapse