What happens when the last Bitcoin $BTC is mined?
Around the year 2140, the final Bitcoin will be mined. This event will mark a fundamental shift in the Bitcoin network, as the "block reward" that miners receive for validating transactions will drop to zero. From that point on, miners will be paid only in transaction fees.
This transition is not a flaw in Bitcoin's design; it's a planned feature. For the network to remain secure, transaction fees must become the primary incentive for miners. Proponents believe this will be a non-issue for several reasons:
1. Higher Transaction Fees: As the block reward diminishes, a competitive fee market will likely emerge, where users pay higher fees for faster transaction processing.
2. Increased Bitcoin Value: With a fixed supply of 21 million coins, Bitcoin’s scarcity could drive up its value significantly, making even small transaction fees a meaningful source of revenue for miners.
3. Technological Evolution: Future scaling solutions will likely optimize the network, ensuring it remains efficient and cost-effective.
Ultimately, the last bitcoin being mined will be the culmination of the network's design for a truly scarce asset. It will test Bitcoin's ability to transition from a system of inflationary rewards to one sustained by a robust and competitive fee market, solidifying its long-term viability.
