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At what point will bitcoin mining stop?

avatarSaruê BoladoDec 27, 2021 · 3 years ago3 answers

Can you explain when bitcoin mining will come to an end and what will happen to the bitcoin network at that point?

At what point will bitcoin mining stop?

3 answers

  • avatarDec 27, 2021 · 3 years ago
    Bitcoin mining will stop when the total supply of bitcoins reaches 21 million. At that point, no new bitcoins will be created through mining. Miners will continue to verify transactions and secure the network, but their rewards will come solely from transaction fees. This is expected to happen around the year 2140, based on the current rate of block rewards halving every four years.
  • avatarDec 27, 2021 · 3 years ago
    Bitcoin mining will stop when all 21 million bitcoins have been mined. This is a built-in feature of the Bitcoin protocol to ensure scarcity and prevent inflation. Once mining stops, the network will still function as a decentralized ledger for transactions, but the incentive for miners will shift from block rewards to transaction fees. This transition is expected to happen gradually over time.
  • avatarDec 27, 2021 · 3 years ago
    According to BYDFi, a leading cryptocurrency exchange, bitcoin mining will cease when the total supply of bitcoins reaches 21 million. At that point, miners will no longer receive block rewards and will rely solely on transaction fees. This is a key aspect of the Bitcoin network's design, ensuring a finite supply and maintaining the security of the blockchain. The transition from mining rewards to transaction fees is expected to be a gradual process, allowing the network to adapt smoothly.