George Levy - What happens once we mine all 21 million bitcoins?

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Title	:	George Levy - What happens once we mine all 21 million bitcoins?
Lasting	:	6.32
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Views	:	97 rb

You should change the vid title Most of it is talking about something that has nothing to do with the title
Comment from : shekibi

Thanks Keep the good work up
Comment from : Abuabakar Butt

another beginner's questionwhat happens if mining gets too expensive or forbidden? Is bitcoin doomed to fall?
Comment from : Salvador Allende

Satoshi thought it would be peer to peer electronic cash so fees generated would incentivize miners to continue secure the network However, bitcoin narrative has shifted to digital gold As a result people tend to hold it rather than spend it almost 90 of all btc is held not spent so there won't be enough fees to cover miner expenses thus network failure
Comment from : Bandit8899

Okay so it will no longer become anywhere near as profitable (if profitable at all) with only the fee and not the block completion reward
Comment from : Emil

Is there any fees when you transfer bitcoin from wallet to another wallet without using any third party like coinbase??
Comment from : M Hussain Ahmed

19th million bitcoin mined
Comment from : Heyworld

Hm makes sense but hold isn't it supposed to be free ?
Comment from : Nick Blacksoul

So when it reaches 21 million, miners will be rewarded with transaction fees in bitcoin!?
Comment from : Ahmed Othman

Miners get a mining fee but what do Nodes get for verifying the transactions?
Comment from : Krishna Teja Sunku

So, who pays these miners the additional 5+ bitcoins? Also, once the bitcoin ecosystem hits 21M coins the transactional cost is unlikely to be sustainable unless the miners can operate with free renewable energy
Comment from : Joe Goh

what i dont understand is WHY theres a 21 million coin limit why is the limit 21M?
Comment from : blake finch

I missed it what happens
Comment from : Ruben Whitter

what happens when we mine all the coins you haven not answered
Comment from : narender b

Does it mean that that miner got almost 5btc worth of transaction fees just for 3016 transactions? Or Am i missing something?
Comment from : Jiří Trojan

From whome this transaction fee is collected ???
Comment from : RAM RAJPUROHITH

We are going to cook ourselves All electric activity goes to heat
Comment from : j3ll1f1sh

Excellent …
Comment from : NLaad

Awesome vid! I just got into mining and was thinking about that Thank you for clarifying 😃
Comment from : MrMinerSV

Great explanation Tks
Comment from : Levy Dan

I thought a block was a bitcoin?
Comment from : Adrian

When all the bitcoin is mined there will be no more bitcoin
Comment from : Luis Rojas

If you read Peer-to-Peer document from Satoshi nakamoto there is nothing that says that there are only 21 milion bitcoins
Comment from : Alon Cast

I'm sorry, did he say the year 2140 Like it's going to take another hundred and twenty years to mine the remaining 5 million bitcoin?
Comment from : Just1MoreJonJr

I need assistance figuring out what I have and what I can do with a decentralized blockchain and the mining apps that I have had for about 10 years
Comment from : Mei Boyer

A little slow to the point , but thanks Now I know
Comment from : Giuseppe Pennisi

So the whole point here is that transaction fees will make up for the lack of bitcoins to be mined after the year 2140? the whole concept of blockchain is based on low transaction fees, I thought There will be a need to greatly reduce the energy and hardware cost to perform such transactions, otherwise, that will be the collapse of the bitcoin system, correct?
Comment from : A cunha

What were the incentives back in the day when btc had only pizza value?
Comment from : Guns N Tokens

Miners mines new blocks for the blockchain The reward is a number of bitcoins !
Comment from : George W-Jenson

That just officially confirmed to me that there is no real plan for compensating the verifying party of the block chain As "transaction fees" increase people will be increasing less likely to use bitcoin if single transactions cost many transaction fees brAlso, those minig pools need to make that money due to the extraordinary energy needed to confirm the calculations of the ledgerbrAs transactional numbers increase and the value of doing those transactions decreases dramaticallybrIntrest will implodebrNot to mention that people can forego services like coin base entirely, thus completely eliminating that source of revenue for people checking the chainbrIf there is no one to verify, the "money" is worthless because it could be duplicated many timesbrThis system is alive due to the sheer fact that people don't understand it
Comment from : J

Why 21 millions? Why not 100millions? Or any number Where is this 21 millions came from?
Comment from : Ikhwan

When all 21million bitcoin is mined, there will be no more to mine right? what if the btc creating block compensation is not worth the price to run multiple high end gpu? If the reward is not that good enough the btc miners/block creator will stop their computers running because there's no more to mine and the compensation is not worth it When that happens, who's computer will help create and verify a block?
Comment from : Eco Hype

thank you very much
Comment from : عبد العزيز المطيري

I am new to all this i am not sure how you maintain the value of the bit coin currency Countries which maintain money supplies are beholden to their voting public They have an obligation to manage the money supply such that inflation is kept in check , but avoiding deflation Banks and central banks manage this process People who manage crypto currencies seem to be disembodied from National currencies So how do we know crypto managers are setting the crypto money supply at a proper 'equilibrium' level We will not be able to not you out of office if you do not manage properly
Comment from : Roy Smallian

Interesting But how will bitcoin fair as a use case Vs other methods for payments etc? Unless the scope of bitcoin is to be recognised as like a digital commodity? Like we have gold?brbrI cant see people going to a coffee shop and using bitcoin to buy their beverage Imagine paying and waiting 10minutes for your transaction confirmations brbrI think bitcoin has its place as a store of value but not as a utilitybrbrOthers will take the crown for that
Comment from : Charles Willis

It’s a geometric series There will never be 21 million bitcoins it’s just advancing that number
Comment from : Gh Gh

The Federal Reserve don't need to mine a dollar before printing it I don't understand why a computer must work to create currency
Comment from : iplayloud2

you are cringe
Comment from : Ilmu dota 2

There could be a few million BTC lost
Comment from : Scott Mitchell

+234 816 502 8491
Comment from : Nworgu Uchenna

+234 816 502 8491
Comment from : Okon Joy Offiong

From my math, it’s would be in about 10 years, not 2140, I don’t know what this guy is talking about
Comment from : Brandon Neil-Taylor

what about the people that got some bitcoins about 10 years ago and forgot about them and how to retrieve them they still belong to that person, right? how does that figure into mining? and the 21 million?
Comment from : f no

It is important to try and learn from bitcoin that stuff called bitcoin is very lucrative it blows up once you begin to understand how things really works here Mining has been used to indicate a means to acquire bitcoin and earn from it Actually, very few really understand that ideology, there are other sailing mediums too you should explore to stay profitable
Comment from : Mr Paldiama

I wish i have 1 bitcoin 3PgeodhTGpHbuW4BUd5V3X9v6V7zzKrMrLbrThank you
Comment from : Jasson Escullar

Only 21 mil bitcoin, how many people in the world? So who keeps the bitcoin? The richest?
Comment from : Hippopotomonstrosesquippedalio phobia

And what happens if the value of fees is not convenient in comparison with cost of energy?
Comment from : Ivan Busacca

2140 ? Rofl it's almost done this year
Comment from : Omar Sheriff

I’ve got a question What will the price of bitcoin be at 21 million bitcoin mined
Comment from : mikeyanatomy

The picking and dropping coins at the beginning are too distractive
Comment from : Kin Suen

Accordin to my calculations, maintaining the block validation capacity in 10 min, and the halving at the same frequency (four years approximately), the miners will reach 21 million bitcoins in 2038! If the processing capacity of the blocks increases, resulting in shorter validation times for the blocks, we can arrive on that day between 2031 and 2035 That’s is veeeeery earlier than you say here in this video!! Hope we can discuss more about this topic!
Comment from : Thiago Brito

Ethereum is better
Comment from : B_To_The_B

I'm voting this down because of that stupid coin drop thing you did in the beginning
Comment from : Jacob Stromburg

When internet goes down - you will be worth zerobrbrPeople with gold silver real estate ok That's the power of hard assets
Comment from : Stress Free

Wait he said in the year 2140?
Comment from : VA-VA-VOOM HONEST

This should be a fucking drinking game he will explain eventually but we'd all be too pissed ooops i might miss it must stop ty
Comment from : Ashton Grist

Predict bitcoin value once 21 million are mined
Comment from : Charan Narukulla

Get to the fucking ponit
Comment from : XAHU

I’m ready to start a mining site All I need is the brains and some money on board and let’s get a property to do it
Comment from : Yves Seguin

infuriating
Comment from : amazingvidguyz

05:25 YA SO, once all the BTC are mined, where are the 8 bitcoins going to come from for each transaction?
Comment from : Hybrid Alien

Who determines how high the transaction fees are and what is our insurance they wont go through the roof ???
Comment from : Plukke _B

Okay but it can be split into infinite small amounts how is there only 21 million but infinite splits of it? There’s just infinite bitcoin
Comment from : Taylor Neilson

Stop worrying about reach limit of bitcoin because when bitcoin reaches its limit we already gone
Comment from : JOEL CAÑETE

bitcoin isnt good for paying coffee in starbucks its good for storing away your money, many times safer than the banks once volatility has settled and the price is stable, bitcoin is your savings bank account and only you have access to that moneybrif the banks dont have money anymore, they cant burn it anymore and dont need bailouts anymore and finally theyll lose power over governmentsbrbrthe more people will understand this, the more people will join the party the higher the price will go aswell imagine your boss paying your salary directly to your wallet adress will we still be paying taxes in the future? ;PbrbrTHEY KNOW WHATS UP AND THEYRE TRYIN TO STOP BITCOIN
Comment from : b00g3ym4n

I was happy Successfulhacktech got me 15btc recently 🙏🙏🙏
Comment from : Owen Joshua

The only thing I've learned about Bitcoin is it confusing and I know if it's too confusing why even get into it
Comment from : Dave Forgot

What happens once we mine all 21 million bitcoins?
Comment from : Scopolamin

Bitcoin 20
Comment from : V Dan

everyone try hard to mine, at the end the hackers win
Comment from : pullbackforextrading

What happens when there is one Mega crypto farm confirming all the transactions? Will they receive all the transaction fees because there will no longer be a difficulty algorithm?
Comment from : Daniel Levy

First, that was 16$ per transaction, that is one of the reasons why btc is pretty expensive as multytransactional instrument brSecond, if everyone will use lightning for micro transactions btc that transactions will not be included as reward, right?
Comment from : Elliott Sergeenko

What happen with the enviroment with bitcoin?
Comment from : Gaston Bigi

so once all bitcoins are mined it gets too expensive to use bitcoin ? is that what ur saying ?
Comment from : Robert idonotsharemyfullname

So does the price still fluctuate when we reach 21million? I wouldn’t have to much faith using it as a currency if it does I don’t want to work a year for say 10 bitcoin worth 100k just for it to be worth 50k tomorrow depending on who has the most bitcoin, sounds sketchy
Comment from : PushTo STARt

Less than 3 million left to be mined Be part of the pour over club Make your own coffee, put that savings and the Bitcoin each week, or each month, and ride the wave up The pour over club accumulate in bitcoin one cup at a time
Comment from : Curious

I thought there was a transaction limit per block? How will miners get compensated if there is a limit on the transactions and no reward?
Comment from : Friso

21 million will ever be produced, but infinitely divisible What a laugh this "shill" is There is a reason why nature produces one shark at a time, and millions of eggs for other species of fish Bitcoin is bait for the fish Once we're cashless, you'll see what I mean
Comment from : Earl Washington

Bitcoin support are biggest companies of hardware in the world So when it reaches to 21 millions Bitcoin No one buy any more expensive hardware to mining
Comment from : ATN

Im worried about the future power consumption (ecology) when we reach the 21 milllion barrier Do you have an idea if it will drop, and if it will drop, how much it will drop in porcentage? Another question is, when we will reach the limit ? Thanks in advance
Comment from : Karen Soghomonyan

XRP 15$ LET'S GO
Comment from : TUỆ_TRADING

Question: Is "slushpool" one person if you had to guess?
Comment from : Rab

I do hold BTC nothing crazy but I wonder is there somewhere that lists how many people there are in total who hold BTC? My concerns are that of pump and dumps by globalist elitist banksters Like would it be possible for the 100 richest people in the world to accumulate half the total supply of BTC in the world? As of this writing: Market Cap: $180,532,961,446 It isn't hard to imagine 100 of the richest people owning at least 30 of that
Comment from : os op

So essentially, they won't get that 12 bitcoin, only the 5 (or so)? And with price of equipment and energy, what if all the miners just call it quits?
Comment from : Dirty Knights

Thank you for the video The number of transactions may increase in the future but most of them will go on lightening network because there is not enough on chain scaling So there will be still relatively small number of transactions on chain Does it mean that the transaction fees will be astronomical?
Comment from : V K