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RE: Bitcoin Mining Apocalypse? Programmer explains.

in #bitcoin3 years ago

The estimated time for all 21M bitcoins to be mined is in year 2140, with the value of bitcoin increasing over time, mining will still be a profitable business for miners and recently a lot of bitcoins have been mined from Venezuela. Eventually China will stop mining and new countries will start doing this job.

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Well the original goal was for the tx fees to eventually make up for the block reward, since in 100 years there'll be so much transacting on the blockchain that the mining reward is negligible compared to the tx fees.

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