Miners keep the blockchain alive ... with the incentive of generating 25 or 12.5 or 6.25 bitcoins at each block creation.
There are today a little less than 17M bitcoins mined ...
When everything is mined, the reward of mining block will be long gone, and maintaining bitcoin alive will rely solely
on transaction fees ... I can foresee a bitcoin forking at that time, and it clear when it will happened perhaps in the year 2140
block chain.info give us a pretty peace-wise linear behavior for the volume of bitcoin in circulation so this could well occur in 2136
I believe transaction fees will skyrock before then and it will lead to the collapse of the bitcoin network.
We do we program so much obsolescence it like when the ipod was launched, I was shock you could not switch the battery, I am shock how unsustainable the bitcoin blockchain is, we seems as human to like things that collapse.
maybe is our urge to fixed things, do we feed our problem solving mind this way ?
Do you think mining will remain profitable after the last bitcoin is extracted and the block reward disappears ?
Write your thoughts below in the comment section, I will be happy to read them.
--
read more about it in our slack channel
Hi,
These types of posts are not really suitable to use for @earthnation tagging/boosting. More details are on our Terms of Service/Basecamp. @earthnation encourages Guild members to post; solution based, humanitarian, new paradigm, conscious, and spiritual guiding content when using tags/for boosting.
Thank you.