Will new blocks be created after all Bitcoin coins have been issued?


At the time of this writing, there are already 17,128,716 bitcoins in circulation. In fact, there are fewer coins directly in circulation, since access to some of the addresses was lost, some of the coins belong to Satoshi Nakamoto (and there have been no transactions on them yet), some of the coins were intentionally burned. In total, 21 million coins will be issued. Tentatively, this should happen by 2140, although no one can know the exact date - all these are just forecasts. How do miners earn? Miners earn money by generating new coins and transactions - they receive a commission for these actions. At the same time, with the increasing complexity of mining, some of the miners will leave the market, only the strongest market players will remain (which jeopardizes the very idea of ​​decentralization, but this is not about that now). Even after the release of all 21 million BTC, users will need to write data to the blockchain to conduct transactions. What will miners do after all BTC coins are released? The answer is obvious If new coins are not generated, then the conclusion is obvious - miners will write data on new transactions to the blockchain. That is, the number of blocks will still increase, even without generating new coins. What to do with lost bitcoins? The lost bitcoins will only increase the value of the coins remaining in circulation. Inflation does not threaten bitcoin - the value of coins will increase with a decrease in their number, and then bitcoins of minimum multiplicity will prevail in circulation. In the future, it will be more relevant to say "satoshi" than "bitcoin" In view of the fact that the value of coins will increase, satoshi will have a high enough value to pay for not the cheapest goods and services. If the price of coins continues to grow and the minimum satoshi denomination for calculations is not enough, then a mechanism can be developed to use denominations smaller than 10 ^ -8 BTC. Could a new blockchain emerge? It is unlikely that it will be possible to rewrite the bitcoin blockchain, especially since the chain is getting bigger every day. Therefore, the creation of a "double" of bitcoin is minimized. And the bitcoin blockchain itself has its own protection mechanisms that prevent its change and any interference. Minimum block reward The number of bitcoins will not grow in the future (and in fact will decrease due to the loss of access to wallets), bitcoin will rise in price, satoshi will be enough for calculations, and what is the dimension of the reward for miners then? Problem. If the transaction amount is one satoshi, then the reward should be even less. If the multiplicity of bitcoin does not change in any way and satoshi turns out to be really the minimum denomination of bitcoin, then the miner will receive a reward in the amount of ... .. 0 bitcoins. In fact, this could be the end of the Bitcoin turnover. But let's hope that still there will be denominations less than satoshi, although the mechanism of their appearance is not yet clear.

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