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Does anyone have any ideas what will happen to BTC value when final coin is being minted? I tried to run few scenarios in my head and the most logical are huge
by joering2 6y ago
Does anyone have any ideas what will happen to BTC value when final coin is being minted? I tried to run few scenarios in my head and the most logical are huge big-ass crash/selloff. With the miners hoarding much of the coins, there won't be anything more for them to do; no more work to be done. Time to cash out, no?
- vbezhenar 6y agoMiner get transaction fee. It is already a sizeable chunk of reward: 1.1 BTC for last block (and 6.25 generated).
- rkagerer 6y agoThat's a great question! I used to worry once miners are no longer enticed with newly minted coin their activity would trail off - particularly when transaction fees were close to $0. But fees have gone up since then without curtailing use, meanwhile a succession of halvings has significantly reduced the rate of coin issuance. And mining is still going strong. Presently fees make up 13.5% of total block rewards. Here's a graph of how that's varied over time: https://bitinfocharts.com/comparison/bitcoin-fee_to_reward.html https://bitinfocharts.com/comparison/bitcoin-fee_to_reward.h... It will shift toward 100% as we approach the 21M mark. As long as people still want to transact in bitcoin, I think mining will continue to be viable. Of course there will always be competition from newer, more efficient protocols with lower fees.