What Will Happen After The Last Bitcoin Is Mined? The number of Bitcoins is capped at 21 million and that is the maximum that can be “mined.” So what will happen after the last Bitcoin is generated?
Understanding the monetary policy behind Bitcoin
Unlike fiat currencies, which are constantly in print by the central banks, Bitcoin has a dynamically opposite approach, where the supply of new coins in the market is ever decreasing.
Bitcoin mining is a reference to the coins released to a network member for performing certain mathematical calculations. In order to solve these complex math problems, the miners need to invest in heavy-duty computing infrastructure.
In addition to making money through mining new coins, the network members also can benefit monetarily by creating chain blocks, adding new transactions, and checking operations for validity, in effect, they are the backbone of the underlying blockchain.
When all the digital gold is mined
It is estimated that the last Bitcoin will be mined around 2140, while the supply of new coins into the system will then come to an end, the miners still have an incentive to keep carrying on their operations as the fee they receive for processing transactions is expected to grow in line with the price of Bitcoin.
Miners are central to the efficient operation of a blockchain-based cryptocurrency. After all the bitcoins are mined, miners will still need the support of users in the form of a transaction fee that can sustain operations, however some miners may exit the Bitcoin ecosystem as they may not be able to sustain the costs of operations.
Why you should invest in Bitcoin today
Bitcoin will continue to exist even after the last coin is mined, however that even is still far far away and in the meanwhile, in the last decade since it came into existence, the cryptocurrency has emerged as the preferred and penultimate digital money all over the world. As the supply of this asset is limited, it is not inflationary in nature and could be a valuable alternate investment for many, especially people in those parts of the world, which suffer from political uncertainty.
The easiest way to acquire Bitcoin is through Oobit, all you need is a debit or credit card and five minutes of your time to go through one of the easiest KYC procedures that exists in the industry. There is really no need to wait for the last coin to be mined, when you can get your Bitcoin today with just a click of a few buttons.