O
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Oleg2015-03-19 00:47:59
bitcoin
Oleg, 2015-03-19 00:47:59

What will happen when the number of bitcoins reaches 21 million?

In order for the transaction to be known and everyone to record it, it must be confirmed, which is obtained as a result of the creation of a new block. Correctly? But, when we get to the point where there are 21 million bitcoins ("due to the periodic halving of the block reward, the total amount of BTC will never exceed 21 million" - quote from the article ), will we be able to confirm the transaction? Are there any rules in the algorithm for this?
UPD: Answer:
For each block calculation, we get a new bitcoin. A block consists of a list of transactions to be confirmed. Once the number of bitcoins reaches 21 million, the only way for a miner to get rewarded for his work is bitcoins as a commission for block calculation (i.e. this is part of the bitcoins from the transfer).

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2 answer(s)
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Vyacheslav Shindin, 2017-09-08
@pro_co_ru

I did some calculations here, providing bitcoin with gold, it turned out something like this:
Gold:
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About 175 thousand tons of gold have been mined in the entire history of mankind.
At the end of 2016, global gold production amounted to 3,100 tons.
At this rate, by 2037, the gold reserves on Earth will be exhausted.
Average price of gold this year: 1250 USD price per 1 troy ounce (31.1 grams).
Bitcoin:
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16 million out of 21 million bitcoins have already been mined.
Calculations:
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21 million bitcoins = 100%
16 million bitcoins = 76.1904761905%
1 ton = 1000000 grams
Total gold = 175000 tons of gold + 3100 tons *(2037 - 2017) = 237000 tons = 100 %
Price per ton of gold = 1250*1000000/31.1 = 40192926.045 (dollars)
Price for all gold = 237000*40192926.045 = 9.52572347266*1000000 million dollars (9.5 trillion, trillion = million million)
Price of one bitcoin: (9.525702340722) 9.52572347266/21 = 0.45360587965 million dollars for 1 bitcoin = 453.6 thousand dollars for 1 bitcoin
Conclusion:
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1 bitcoin will cost about 450 thousand dollars at the price of 1250 dollars per ounce of gold.
Do not judge strictly, I took the initial numbers from the first googled results.

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