Q. What incentive will Bitcoin miners have to continue - after the last Bitcoin is mined?
absolutgus

What incentive will Bitcoin miners have to continue - after the last Bitcoin is mined?

The reward for mining Bitcoin deflates - halving every four years until roughly 2140 when the last of the Bitcoin is produced. With no mining reward, how will transactions process without mining activity?


bitcoin crypto mining
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Apr, 2018

Cryptocurrency
 58.2 q
1 Answer
  • ae1996

    Based on how Bitcoin works now, I think transaction fees is the only thing that will incentivize miners after the last Bitcoin is mined. However, I’m sure in the next 5-10 years from now, Bitcoin Community will have another idea how to incentivize miners.

    In my opinion, we will already have another technology that will replacing blockchain long way before 2140 :)


       

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Cryptocurrency

Cryptocurrency is a secure, trustful and transparent digital currency which can neither be counterfeited nor be reversed arbitrarily by the sender. It eliminates the necessity of a third party involvement for the exchange, as it is encrypted and peer-to-peer virtual currency. For those who prefer non-disclosure and privacy, cryptocurrency is the solution. The use of this kind of virtual currency prevents any kind of identity theft. The concept of cryptocurrency has given birth to reliable e-cash.

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