Bear with me I have not yet read the good books. I will. But some questions just crossed my mind.
What’s going to happen once all 21M BTC are mined?
People are just going to exchange #bitcoin between themselves and exchange value for value using lightning and do swaps?
What [factors] is going to make the BTC price fluctuate then?
Will the blockchain system consume as much energy at that time?
3 months into the rabbit hole. Looking forward to my first #bitcoin meetup next week 🥹
Have you discovered nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m
I came across him yes but I have not discovered him. Why?
Hope.com has a lot of good information. But when all the bitcoin are mined the miner will use a lot less energy as they will only be surcuring the network and doing transactions, but since that will be 2140 some time. Who know what technology will be around 🤔 Best of luck☘️
By that time the world has changed completely. You gotta remember the best coders haven't even been born yet so imagine the possibilities in the future.
And by that time a larger of the population will be holding bitcoin and transacting with it and that stabilizes the network.
2140 hopefully by then we'll have colonies started on other planets and perhaps a new form of decentralized governance. The bitcoin of political power?
It's fun to think about, there's a lot of combined global brainpower that's going to be thinking about all the upcoming problems and issues. Who knows exactly what will happen, but I'm optimistic that the good guys will win in the end, I think "evil" -bad decisions - inefficiency -entropy- whatever you'd like to label it is all self-defeating.
I mean if you take a long enough view entropy might eventually win at the heat death of the universe but that's way longer than my perspective.
So the future is now
If all are mined hashrate will be paid purely by transaction fees.
If there is no fiat anymore the purchasing power will probably change with the productivity of humanity (more goods > everything gets cheaper, less goods (for example in war) > more expensive priced in sats) but will be much stabler
I recommend all of Matthew's videos!
Matthew’s videos are my fav! 🤙
i made a video to address your questions (and even featured the screenshot of your nostr note!) let me know if this helps or if you have any follow-up areas we could research/discuss
What’s going to happen once all 21 million bitcoin (BTC) are mined?
This is really awesome that you are here #[2] . The intersection and parallels of #nostr and #bitcoin are sparking a lot of learning for me and I guess many people also. You have a unique niche as you are focusing on both at the same time whereas most other channels are either #bitcoin or #nostr. So you’re helping 🫂🙏
I do have a lot of follow-up questions yes 😅. They seem to drip one at a time as I move forward on that learning curve (another way to say go deeper in the rabbit hole hahaha).
So the question I have now is : is the transactions fee going to increase as time goes by? Because if miners are rewarded with less and less BTC with each halving what will be mining incentive for them?
Thanks for appreciating, #[2] !
I made a new video to discuss your follow-up question. Keep ‘em coming! 🤙
