What After 21 Million Bitcoin is Mined?
Earlier today I wrote about Bitcoin halving and what to expect from the next bitcoin halving that is expected to happen in 2024.
But the question then arise, what after the total supply of Bitcoin (that is 21 Million) is released into the market? Is bitcoin going to end after that?
The End of Bitcoin?
As with Bitcoin halving that happens after every four years, the rewards keep halving it will come to a point when miners may feel it's not worthy anymore to mine Bitcoin.
Bitcoin mining doea require a certain amount of electricity and equipments and miners might feel like they may not get compensated enough for it.
There may be a chance that these bitcoin switch over to mining other digital currencies or start crypto trading.
As large organizations have the resources so they may still mine Bitcoin but that might also lead to a weaker decentralization of the blockchain.
Now as the Bitcoin total supply of Bitcoin is expected to end by 2140, the market may see an increase demand for Bitcoin.
And by that time, the digital market might be more stable and valued. Meaning that people who bought or mined digital assets early may have a considerable advantage over others.
Even if Bitcoin mining decreases or ends completely, it might still be used in trading keeping it alive.
It is believed by many that Bitcoin halving is the reason Bitcoin is valued high, as if there was no halving, the price might have been worth a couple of dollars.
Only time will tell what the next bitcoin halving is going to effect the prices of Bitcoin and how Bitcoin survives after it completes its total supply.
Posted Using LeoFinance Beta
https://twitter.com/itsHowzat/status/1565719309699137536
The rewards earned on this comment will go directly to the people( @howzat ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
The first time I heard about halving, the speculations was that halving affects prices positively, I don't know how true that is.
Posted Using LeoFinance Beta
Historically it does look true.
Oh. That's a good one then. Which means this next halving will bring positivity to the price too.
Yay! 🤗
Your content has been boosted with Ecency Points, by @sagarkothari88.
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more
it's pretty interesting to think about what might happen when all 21 million are mined. i imagine a lot of miners with shift theirhashrate to other PoW chains.
Posted Using LeoFinance Beta
Yep that is a possibility.
I think 2024 will be a good year for Bitcoin and crypto at large. Just hoping for the best as scarcity will definitely play it's game.
Posted Using LeoFinance Beta