What will happen if all Bitcoins have been mined?

What will happen if all Bitcoins have been mined?

What will happen if all Bitcoins have been mined?

From an economic point of view, the law of supply and demand will apply. The harder it is to get, the more expensive the bitcoin price as the demand increases.

From a technical point of view, there are no more rewards given to miners. If bitcoins have run out there is no more ‘attraction’ to mine bitcoins, then transactions will be hampered if there are no miners.

Bitcoin conceptually uses decentralized, in contrast to centralized fiat money.

Bitcoin is virtual money that can be mined. Like gold, which has a scarcity, bitcoin also has a scarcity trait, namely the circulating supply is only 21,000,000 bitcoins.

Currently 18,255,563 Bitcoins have been mined

Remaining 2,744,437 bitcoins which will be mined until the circulating supply of 21 million coins is complete.

Does that mean a little more bitcoin that can be mined?

In the calculations there are only a few, but the calculations are not so perguso!

Bitcoin maintains its inflation by means of block halving rewards.

Block halving reward is a reduction in the miner’s reward per block to miners to maintain supply scarcity.

The illustration is like this, when bitcoin was mined, in 1 block there were 100 bitcoins and then there was a halving to 50,25,12.5,6.25,3.125.

Halvings occur every 210,000 blocks, 1 block takes about 10 minutes and it can be calculated that halvings occur every 3-4 years.

In 2020 bitcoin will have a halving which is predicted on May 11, 2020 which will result in a reduction in the number of rewards from 12.5 to 6.25 bitcoins per block.

And so on until bitcoin reaches 21,000,000 which is predicted to run out in 2143.