What will happen to miners once Bitcoins reaches to its limit?  

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aaq ilcs
Trusted Member
Joined:8 months  ago
Posts: 52
01/05/2017 8:19 pm  

As the Bitcoins are limited to 21 million coins, and it’s estimated that all the coins will be mined in 2140. After all the Bitcoins are mined, does it mean that the miners are going to be obsolete? 


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BitcoinSpace
Eminent Member Admin
Joined:8 months  ago
Posts: 42
01/05/2017 11:21 pm  

The miners won't so much become obsolete as their incentives will be based on transaction fees. Their primary job is to keep the Bitcoin network running smoothly and Bitcoin mining could still be profitable in regions where the cost of electricity is low or Bitcoin miners can generate their own power for not a lot of money. (It's doable. There's one kid who figured out how to build wind turbines out of junk and he's kind of a hero in his community.)


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aaq ilcs
Trusted Member
Joined:8 months  ago
Posts: 52
02/05/2017 9:42 pm  

That means the Miners are not just for mining the bitcoins but they are ones who make transactions possible with a smooth way.


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