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what happens when all 21 million bitcoins are mined

what happens when all 21 million bitcoins are mined?

what happens when all 21 million bitcoins are mined

What Happens When 21 Million Bitcoin are Fully Mined? Expert Answers

what happens when all 21 million bitcoins are mined, the world’s first decentralized digital currency is designed to have a finite supply of 21 million coins. As of 2021, approximately 18.7 million bitcoins have been mined, leaving only 2.3 million left to be mined. This raises the question of what will happen when all 21 million bitcoins are fully mined. In this article, we will explore expert opinions on the matter.

what happens when all 21 million bitcoins are mined? The Future of Bitcoin Mining

Mining expert Mohamed El Masri predicts that Bitcoin will be worth around $430,500 when all 21 million Bitcoins are mined. He believes that the scarcity of Bitcoin will drive up its value as demand continues to increase. However, this prediction is based on the assumption that the demand for Bitcoin will continue to grow at a steady rate.

Once all 21 million bitcoins are mined, the mining process will come to an end. This means that miners will no longer receive block rewards for verifying transactions on the blockchain. Instead, they will rely solely on transaction fees. This could lead to a decrease in the number of miners on the network, as the profitability of mining decreases.

The Impact on Bitcoin’s Price

The impact of all 21 million bitcoins being mined on Bitcoin’s price is a topic of debate among experts. Some believe that the scarcity of Bitcoin will drive up its value, while others argue that the lack of block rewards could lead to a decrease in demand.

One thing is certain: the supply of Bitcoin will be fixed at 21 million coins. This means that there will never be more than 21 million bitcoins in circulation, making it a deflationary asset. As demand for Bitcoin continues to grow, its value could increase significantly.

In conclusion, the mining of Bitcoin will eventually come to an end once all 21 million coins have been mined. This could lead to a decrease in the number of miners on the network, as well as a shift towards relying solely on transaction fees. However, the scarcity of Bitcoin could drive up its value as demand continues to increase. Only time will tell what the future holds for Bitcoin once all 21 million coins have been mined.

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