What happens when all 21 million Bitcoins have been mined?

10 answers

• Dec 16, 2021 · 3 years ago
  Once all 21 million Bitcoins have been mined, the Bitcoin network will continue to operate. However, instead of new Bitcoins being created as a reward for mining, miners will rely solely on transaction fees. This means that miners will compete for transaction fees, and users will have to pay higher fees to have their transactions included in the blockchain. The scarcity of new Bitcoins will also likely increase the value of existing Bitcoins, making them more valuable.
  473237
• Dec 16, 2021 · 3 years ago
  When all 21 million Bitcoins have been mined, the Bitcoin network will enter a new phase where miners will no longer receive block rewards. Instead, they will rely on transaction fees to incentivize them to continue mining and securing the network. This transition is expected to happen gradually over time as the block rewards decrease. As a result, transaction fees may increase, but this could also lead to a more sustainable and secure network.
  448150
• Dec 16, 2021 · 3 years ago
  After all 21 million Bitcoins have been mined, the Bitcoin network will still function as usual. Miners will continue to validate transactions and add them to the blockchain, but they will no longer receive block rewards. Instead, they will rely on transaction fees as an incentive. This transition is an important part of Bitcoin's design, as it ensures the network's long-term sustainability and security. Other cryptocurrencies may have different mechanisms in place to handle the end of mining, but for Bitcoin, it's all about transaction fees.
  548137
• Dec 16, 2021 · 3 years ago
  When all 21 million Bitcoins have been mined, the Bitcoin network will undergo a significant change. Miners will no longer receive block rewards, and the network will rely solely on transaction fees. This change is expected to increase the competition among miners, as they will need to rely on transaction fees to cover their costs and make a profit. It's also possible that the increase in transaction fees could lead to the development of new scaling solutions to reduce fees and improve the efficiency of the network.
  521105
• Dec 16, 2021 · 3 years ago
  After all 21 million Bitcoins have been mined, the Bitcoin network will continue to function, but the way miners are rewarded will change. Instead of receiving block rewards, miners will rely on transaction fees. This change is expected to increase the cost of transactions, as miners will need to be compensated for their work. However, it's also possible that new technologies and solutions will be developed to reduce transaction fees and make the network more efficient.
  47479
• Dec 16, 2021 · 3 years ago
  Once all 21 million Bitcoins have been mined, the Bitcoin network will enter a new phase where miners will no longer receive block rewards. Instead, they will rely on transaction fees to sustain their operations. This change is an important part of Bitcoin's design, as it ensures that the network remains secure and decentralized. While transaction fees may increase, it's also possible that new technologies and improvements will be developed to make transactions faster and more affordable.
  49371
• Dec 16, 2021 · 3 years ago
  After all 21 million Bitcoins have been mined, the Bitcoin network will continue to function, but the way miners are rewarded will change. Instead of receiving block rewards, miners will rely on transaction fees. This transition is expected to increase the competition among miners, as they will need to rely on transaction fees to cover their costs. It's also possible that this change could lead to the development of new technologies and innovations to make the Bitcoin network more efficient and scalable.
  50964
• Dec 16, 2021 · 3 years ago
  When all 21 million Bitcoins have been mined, the Bitcoin network will still operate, but the mining process will change. Miners will no longer receive block rewards, and they will have to rely on transaction fees to sustain their operations. This change is expected to increase the cost of transactions, but it could also lead to the development of new solutions to reduce fees and improve the scalability of the network.
  42247
• Dec 16, 2021 · 3 years ago
  After all 21 million Bitcoins have been mined, the Bitcoin network will continue to function, but the way miners are rewarded will change. Instead of receiving block rewards, miners will rely on transaction fees. This change is an important part of Bitcoin's design, as it ensures the long-term sustainability of the network. While transaction fees may increase, it's also possible that new technologies and improvements will be developed to make transactions faster and more affordable.
  48749
• Dec 16, 2021 · 3 years ago
  When all 21 million Bitcoins have been mined, the Bitcoin network will enter a new phase where miners will no longer receive block rewards. Instead, they will rely on transaction fees to sustain their operations. This change is expected to increase the competition among miners, as they will need to rely on transaction fees to cover their costs. It's also possible that this change could lead to the development of new technologies and innovations to make the Bitcoin network more efficient and scalable.
  50546