When Will Bitcoin Mining End? What Happens After All Of Bitcoin Is Mined?

The mining of Bitcoin will continue even after all of the Bitcoins are mined. But the basic interests of the miner are block reward and transaction fees. Today the block reward, the newly generated coins, are 80% of their income, perhaps even more, and transaction fees are the smaller balance. When the block reward discontinues, the only income remaining will be the transaction fees, which will have to increase to be profitable. So in the long run, Bitcoin will only get more and more expensive. If the transaction fees get too high, people will not use Bitcoin for transactions. 2018 is the year of altcoins. Bitcoin is losing market capitalization share. As time goes on, Bitcoin will continue to lose more and more market share. Because it is the first blockchain, oldest blockchain, most inefficient blockchain, and most expensive to use. All Digital Currencies that use Proof of Work are now regarded as long term unprofitable and unpractical. Ethereum and others are switching to Proof of Stake. Bitcoin is staying the same. A lot of investors in Bitcoin are now putting their money in other coins. Bitcoin’s monopoly will end when it comes to exchanges and as that happens the price will likely go down, and most users will leave it.

Will Bitcoin Become Like Gold As A Store Of Value?

Bitcoin acts currently like gold because gold is expensive to move, and Bitcoin is also expensive to move. Gold acts as a store of value. A store of value is something that retains its value or the value increases. When Bitcoin loses its value, then it loses that property as a store of value.

Why Will Bitcoin Lose Its Value But Gold Not Lose Its Value?

Because gold cannot be destroyed, it’s eternal, it does not weather over time, and everybody knows what it is, and it’s physical. Bitcoin is just a file on the Internet, a digital record. Long term status of Bitcoin is not even a point of debate within the Bitcoin community. The long term solution for Bitcoin after mining is now a fierce debate within the Bitcoin community. They don’t know how to solve that issue.

What Happens When Ripple Replaces the SWIFT Banking Transaction System?

The current transaction fee to the bank for Ripple is $0.0000001, a million times less expensive than SWIFT. This is why the banks are switching to Ripple in lieu of SWIFT. Ripple is one company controlled by a group of people, and the composition of ownership of Ripple can be changed. Banks have a lot of influence. They cannot control decentralized systems, but Ripple is centralized and much easier to control. 2/3 of Ripple coins are for banks and 1/3 are for the general public.