End of bitcoin transactions


Uday asked 11 months ago

There is a limit to the number of bitcoins that can mined. Once the limit is reached ( far in the future ), there will be no more mining of bitcoins. So all the miners will stop mining. This means that no more bitcoin transactions can be made, as all the transactions are checked and confirmed by miners. Is my conclusion correct?

1 Answers
Steven Hay answered 10 months ago

Hi Uday,
 
Nope, the fact that mining rewards will disappear in future is correct but your conclusions are incorrect. Even though there will be no more block rewards, *transaction fees* will remain to incentivize miners to continue to mine and thereby process transactions.

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