Moist5d agothis is likely a dumb question with a simple answer, but what happens to bitcoin once its all mined?
currently transactions via mined blocks which people get rewards for. so once there's no reward, how will new blocks be created and who will do it if there is no longer any reward?
i know we'll all be dead by then, but still something that is bothering me
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utxo the webmaster 🧑💻5d agoMiners live off of fees, sats are very valuable so fees will like be equivalent purchasing power of block rewards today, ie $200kish
0000 sats
Moist5d agothats what I was thinking, and will ponder this a bit more, but if sats become that valuable then its going to be a deterrent to using bitcoin, no?
for sake of argument, if the entire world was solely using btc and you had to value the entire world's assets in the fixed number of sats, what would a sat be worth?
at current population levels there would be about 250k sats/per person, so the buying power of one sat will be huge. if I'm buying a house off you for 5 sats and having to pay 1 sat fee for the transaction its not a very attractive proposition.
even worse considering it will be far less sats in circulation due to loss of keys and people like Saylor
000