Cryptocurrency Q&A
What will happen when all 21 million bitcoins are mined?
What will happen when all 21 million bitcoins are mined?
KabukiPassion
Mon Oct 21 2024
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7
answers
1610
I'm wondering about the future of Bitcoin. Specifically, I want to know what the consequences will be once all 21 million bitcoins have been mined. Will there be any significant changes to the system or the value of bitcoins?
7 answers
DigitalTreasureHunter
Wed Oct 23 2024
This trend ultimately culminates in a scenario where the mining rewards become negligible, effectively approaching zero. This momentous event signifies the end of the era of new bitcoin generation.
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Caterina
Wed Oct 23 2024
With the diminishing block rewards, miners must adapt their strategies to sustain their operations. Consequently, their primary focus shifts from the pursuit of mining rewards to another viable source of income.
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GwanghwamunGuardian
Wed Oct 23 2024
Transaction fees emerge as a crucial component of miners' revenue streams. As the demand for Bitcoin transactions grows, so do the associated fees, offering miners an alternative means to earn.
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TeaCeremony
Wed Oct 23 2024
The finite nature of Bitcoin's supply is a key aspect of its design. As the years pass, the mining of new bitcoins becomes increasingly challenging, leading to a gradual decrease in the number of coins being created.
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Giulia
Wed Oct 23 2024
This shift in focus underscores the importance of transaction fees in maintaining the security and stability of the Bitcoin network. Miners continue to validate and secure transactions, albeit for a different reason than initially intended.
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