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[Razor1911]

Well, the mining process is becoming very popular now a days. Many companies and firms are mining and earning huge. Though for that you will need high specifications of PC called ARS. Anyways, the way people are mining the bitcoin there will not much time left when we will have only a few supply left to be mined.

My doubt is, is there any possibility that each of the 21 million bitcoins are mined by the miners and there's none left? If yes then, who will pay the miners at that time? And if answer is no, then when will be the mining work stop?

 

[ElPaule]

Mining will become more and more expensive so it becomes less and less profitable. Guess one day the world will be at the point where all btc is mined, but until we will see the number of mined coins will get less and less.
if being on the point that all coins are mined, you will only earn money on transactions. That's fine too

 

[highspeed]

Well, speaking about Bitcoin, it has been designed in such a way that the maximum number of units is 21 million. Once this number of units is reached through the extraction process, happens the halving process. That is, each Bitcoin present in the world, halves its value (therefore 50%).
Now China, for a good cause relating to environmental protection, seems to want to stop the mining process.

 

[Wisdom01]

I think the miners would sell their mined bitcoin ,because there is absolutely no one to pay them for mining, they are the ones to sell off their mined bitcoin for profit

 

[Wisdom01]

Bitcoin that can be mined is only a portion in the 21 million units. Basically the bitcoin you get from mining is a reward for solving blockchain puzzles to fuel btc transactions

I really dont understand does it mean that any bitcoin mine is not from a mining rig and others i would like to know more about what you said

 

[Razor1911]

Bitcoin that can be mined is only a portion in the 21 million units. Basically the bitcoin you get from mining is a reward for solving blockchain puzzles to fuel btc transactions

Yes the maximum amount of supply of bitcoin is 21 million. And till now approx 18 million have been mined. It is projected that if the rate of mining goes like this, 2148 will be the year when everyone bitcoin will be mined.

 

[Wisdom01]

Yes the maximum amount of supply of bitcoin is 21 million. And till now approx 18 million have been mined. It is projected that if the rate of mining goes like this, 2148 will be the year when everyone bitcoin will be mined.

That might just be approximation with the recent bitcoin mining development , it might not even reach that year ,before it start the development

 

[Wisdom01]

Yes the maximum amount of supply of bitcoin is 21 million. And till now approx 18 million have been mined. It is projected that if the rate of mining goes like this, 2148 will be the year when everyone bitcoin will be mined.

That might just be approximation with the recent bitcoin mining development , it might not even reach that year ,before it start the development

 

[Razor1911]

That might just be approximation with the recent bitcoin mining development , it might not even reach that year ,before it start the development

Yes. That is also with the present mining rate. I think in future the mining rate will increase more. But one day when every mining will be done, and there will be no bitcoins to be mined. At that time how the miners will earn money?