Last updated on January 16th, 2018 at 09:19 am
What will keep bitcoin going when it has reached the maximum number of 21 million and the miners will not be getting more coins? Who will run the nodes and how will it be paid for? Will there be shift in how bitcoin operates? With China predicted to account for over 70% of verification at some point in the near future, will they shut their nodes down at the end?
Hey Thomas, great question!
First of all it’s important to note that at the current rate of mining Bitcoins this will only happen in the year 2140. I assume that until then perhaps some other form of money will be generated :)
However, even if all Bitcoins are mined, miners will still be incentivized to mine since they get the fees related to the Bitcoin transactions. Nodes are a different story, since even today nodes don’t receive any incentive yet there’s a considerable amount of them out there.
So every answer you will get to this question will be theoretical and also out of context since no one can predict the shifts that will happen in the world in the next 120 years. Therefor I think it will be a bit pointless to estimate what will happen.
Sorry I couldn’t give you a better answer.
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