The World of Cryptocurrency - The Last Piece of Bitcoin
Every day there were tons of miners digging for bitcoin, in fact they built huge infrastructures storing thousands of computers and operating round the clock just to mine for bitcoin.
There are only 21 million bitcoins that can ever be created other than that no more whatsoever unless they will discover ways to change the codes. The estimated year for the last bitcoin to be created is the year 2,140. That is 123 years from now. The data below shows the real time information (as of I wrote this article) about bitcoin activities.
Refer to this link: bitcoinblockhalf for real time bitcoin information.
I think we are not going to be around that time when the last bitcoin be mined although I could be wrong if some amazing solution will be discovered and can generate new bitcoin in addition of 21million coins.
Some ideas were sprouting that when the last bitcoin be mined, there were no blocks anymore for miners and it will be the end for everything. When the 21st million bitcoin is reached, there will be more blocks will be created through transaction fees. Eventhough, no more new bitcoin to be mined but still there were thousands if not millions making transactions a day by transferring bitcoin from one address to another - these will be the ones that are creating the new blocks and these blocks will be more valuable than a new coins being created. When the limit of Bitcoin figure is reached, these transaction fees are what will keep the Bitcoin network sustainable and keep it growing and continuing to move forward, and there is no limit to the number of blocks that will be mined in the future because of these transaction fees.
Next sleep
The best comment ive read so far 😄
.. next is sleep 🤣
Lol
Haha
I think it will result to another huge increase of bitcoin's value provided that the demand is also increasing.
Increasing demand with the same amount of supply will only make it scarce.
yup, it makes sense - when demand increases with scarcity of supply then price will increase :)
Bitcoin surely will increase! Any thoughts or strategy?
For sure bitcoin price in that time will skyrocket. Strategy? maybe invest with ICO's and altcoins :)
Those numbers look great for investing and since i won't be alive in 120 years I don't really care how the transactions get paid for then
Lol, why are we going to problem those problems that are not ours.. LOL
Nice idea buddy :)
May be so many other forks takes place by then so that bitcoin losses it concept and some altcoin overtake the ground ☺
Thats a possibility in the future, who knows steem will take over the crown of bitcoin 😄
Totally, the transaction fees will still be motivation. Can you imagine how many forks could take place before 2041.
Somehow, in the later years of this bitcoin journey, there will be fork that could change everything into more brighter future of cryptocurrency 😄
I wish I could look into the future and see what will happen to bitcoin. However, one thing is for sure, the price will keep rising and rising :)
Yup, it will skyrocket more after the last piece be mined. The demand will increase with no additional supply.😄
"Remember Way Back When...
those days when you could buy swedish fish candies for only 1 satoshi each? I tell ya, those were the days..."
Technology keeps on evolving. With the way, the community behind blockchain is expanding quickly they will definitely come up with something. It's too early to tell
Yup, i do agree with you. But as of now that is the data about the bitcoin world :)
Thats true
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