What happens to Bitcoin miners after rewards end in 2140?

[hd49728]

There is an expected announcement about upcoming upgrade of Bitcoin core version 30, it's going to allow people to send an arbitrary data into Bitcoin op_return script and with this, miners are going to be making money from the bytes included in this transactions, I think with such technology it is going to be a way for miners to make incentives instead of depending on block rewards that deplete with time, there is going to come a time when block reward will be less than cost of production even with pool mining.

It's also possible that fees will be another ways for them to keep the network going but a mix of this on the Bitcoin network is going to bring revenue and fees for miners to make money rather than depending on something that is going to get slash with time. If Bitcoin price becomes stagnant for a wile, it's going to be a challenge because nobody can tell where Bitcoin price will be in the future and the transaction fees are not that big despite the fact that onchain activity is not bad.

It can be good initiatives to expand utility of Bitcoin blockchain and bring more income to Bitcoin miners which are vital parts of Bitcoin blockchain and work. As a Proof of Work blockchain, without Bitcoin miners and their mining operations, Bitcoin blockchain will be less lively or even dead so if this initiative and other initiatives in the future work well for Bitcoin miners, there will be not such a question "What will happen after 2140 year when all 21 millions of bitcoins are all mined?"

So far, without this initiative, Bitcoin miners still have good income already but I think the intiative makes sense as Bitcoin developers must never stop their programming jobs for strengthen Bitcoin blockchain.

[Publictalk792]

Main long term issue of Bitcoin is whether transaction fees will be enough to make network safe by 2140 when block reward will stop. Experts think answer is yes, as this change is in plan of Bitcoin. Smaller reward, higher price of Bitcoin (BTC) has to go up so that fees could be worth dollars to motivate miners. In addition, increased usage of Bitcoin will lead to increase in need of block space, which will make up fees. In case value of BTC becomes huge, high rates of payment to get that wealth will be enough. Thus, it is believed that Bitcoin will not have to change its main rules. Market will just change, and fees will be enough to make sure that network remains safest and most reliable in world.

[FortuneFollower]

^ Some will leave, some - take their empty places, and the network will be fine, in my opinion.

It always was that way and it will be done again by the year in question, we won't see it ourselves anyway

[EluguHcman]

The question is: will transaction fees alone be enough to keep miners motivated and the network secure? Or would Bitcoin need to change before then?

Mining has really become too expensive and less profits this time due high cost is electricity tariffs which miners may need constant energy to facilitate on the computing streaks of validating transactions and secures the Blockchain on the regular basis.
Mining equipments has also become more expensive. So they (miners) may need to earn more than their expenses before they can be profitable which is also why mining pool has become an opportunity for pool miners to earn higher rewards.

So after there will be no mining rewards again when all block are mined that miners will rely earning rewards by transaction fees, then Bitcoin price must have risen above that transaction fees will also increase to encourage their regarding incentives so that they can also be profitable.

[EL MOHA]

So after there will be no mining rewards again when all block are mined that miners will rely earning rewards by transaction fees, then Bitcoin price must have risen above that transaction fees will also increase to encourage their regarding incentives so that they can also be profitable.

What I will normally say in discussions like this is that fingers are crossed but we will wait until then, because let’s be realistic if the bitcoin transaction fee actually increase to increase the incentives for miners do you think this will make the network that attractive to use for daily transactions? I think in period of paying higher fees people actually look for alternatives to make transactions. For now the only thing positive is just that the bitcoin price might have been so high that the fees can be able to cover a little of the incentives.

I just know that possibly the reduction of miners will actually reduce the hash power needed to mine bitcoin plus it will be more of pool mining rather than Solo mining as we have begin to see more people combining mining pools, in all of this though one thing that’s most certain is the fact that the bitcoin mining will definitely not lose relevance there will still be lots of reason to mine bitcoin.

[GigaBit]

We all know that Bitcoin mining rewards get cut in half every 4 years. By around 2140, there will be no more block rewards, only transaction fees.

The question is: will transaction fees alone be enough to keep miners motivated and the network secure? Or would Bitcoin need to change before then?

Currently, miners earn in two ways. One is by mining and the other is from block rewards. It can be said that their income is higher from block rewards. But in the future, especially after 2140, there will be no possibility of getting block rewards because by that time all the Bitcoins will be mined. At that time, miners will have to depend only on transaction fees. The transaction fees that are paid at present will increase in the future and the miners will continue their activities with those transaction fees.

[Ojengonggu]

We all know that Bitcoin mining rewards get cut in half every 4 years. By around 2140, there will be no more block rewards, only transaction fees.

The question is: will transaction fees alone be enough to keep miners motivated and the network secure? Or would Bitcoin need to change before then?

"haha, bruh u thinking about 2140? thats like worrying about the sun burning out tomorrow. most of us will be dust by then lol.

but for real, yeah thats the plan. fees will have to cover it. by then, a single sat should be worth a fortune (hopefully), so even tiny fees in sats could = huge $$$. its designed to work.

if fees arent enough, the network would just get less secure... less hashpower. but honestly, if BTC is still around in 120 years, itll be so massive that the fee market will be fine. they wont need to 'change' it. but hey, maybe our great-great-grandkids will fork it. not our problem 😂 just stack sats."

[Antona]

Main long term issue of Bitcoin is whether transaction fees will be enough to make network safe by 2140 when block reward will stop. Experts think answer is yes, as this change is in plan of Bitcoin. Smaller reward, higher price of Bitcoin (BTC) has to go up so that fees could be worth dollars to motivate miners. In addition, increased usage of Bitcoin will lead to increase in need of block space, which will make up fees. In case value of BTC becomes huge, high rates of payment to get that wealth will be enough. Thus, it is believed that Bitcoin will not have to change its main rules. Market will just change, and fees will be enough to make sure that network remains safest and most reliable in world.

That's the theory as block rewards vanish security becomes purely fee driven it requires the price to be astronomically higher and or tons of daily transactions a big if, but the gradual 100+ year timeline gives the ecosystem plenty of time to adapt.

[Uhwuchukwu53]

Well is good to think ahead about future but for me this is a good number of years to worry the brain because more of us with our age currently may not even witness the happening , assuming your 28years now do the math and know the number of years to come about this happening. The truth remain that base on the halving the miner interest will reduce, before then adoption would have go beyond what it's today, I don't see mining to be a thing of permanent thing base on the halving policy of the ecosystem.