What happens once all bitcoins have been mined?

3 answers

• Dec 28, 2021 · 3 years ago
  Once all bitcoins have been mined, the Bitcoin network will rely solely on transaction fees to incentivize miners. Miners will continue to validate transactions and secure the network, as transaction fees will be their primary source of income. The scarcity of new bitcoins will likely increase the value and price of existing bitcoins, as the limited supply will create a higher demand. Miners may also explore alternative revenue streams, such as offering additional services or participating in other blockchain networks.
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• Dec 28, 2021 · 3 years ago
  Well, once all bitcoins have been mined, it's not like the Bitcoin network will suddenly shut down. Miners will still have a role to play in validating transactions and maintaining the network's security. However, their incentive will shift from earning new bitcoins to earning transaction fees. This change in incentive structure may lead to increased competition among miners, as they strive to earn a larger share of the transaction fees. As for the value of existing bitcoins, it's hard to predict with certainty, but the scarcity of new supply could potentially drive up the price.
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• Dec 28, 2021 · 3 years ago
  Once all bitcoins have been mined, the Bitcoin network will transition to a fee-based system, where miners will rely on transaction fees as their main source of income. This transition is expected to increase the competition among miners, as they will need to offer competitive transaction fee rates to attract users. The scarcity of new bitcoins could potentially drive up the value of existing bitcoins, as the limited supply creates a higher demand. However, it's important to note that the Bitcoin network is not the only cryptocurrency network, and miners may explore other cryptocurrencies or blockchain networks to sustain their operations and earn income.
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