BitcoinMadeClear

What if all bitcoin is mined?

Under Bitcoin's current rules, new bitcoin creation eventually ends. Payments can still be recorded, with transaction fees providing payment to miners instead of a new-coin subsidy.

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What does that mean for you?

Mining has a job beyond creating bitcoin: proposing blocks that extend the payment history. The rules already separate the new-coin subsidy from the fees included with payments.

When the subsidy is gone, there is no rule that makes your existing bitcoin expire. The network would still need people willing to do mining work and people checking its rules.

What if all bitcoin is mined?New-coin subsidy: Eventually ends under the rules. Payment fees: Remain a source of miner payment. Payment history: Can continue to grow.New-coin subsidyEventually ends under the rulesPayment feesRemain a source of miner paymentPayment historyCan continue to grow
New-coin subsidy: Eventually ends under the rules. Payment fees: Remain a source of miner payment. Payment history: Can continue to grow.

Can you picture an example?

Imagine a future block containing payments after new coin creation has ended. Fees from those payments could be claimed by the miner. The block would not need to create new coins to record those transfers.

What should you remember?

The future level of fees, mining participation and demand cannot be promised here. The supply rule describes what is allowed, not how many people will use the system. We leave out a predicted calendar date.

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