WILL THE BITCOIN LIMIT CONTRIBUTE TO ITS DEMISE?

 


Expectant experts point out that bitcoin will rebound, its price could be supercharged; what could happen when Bitcoin can no longer do produce or mine? Are there many analysts who speculate what could happen when Bitcoin reaches the figure of 21,000 Million? Uncertainty reigns.

Bitcoin is a currency that can be mined or new bitcoins produced as if new banknotes do print, just as physical money does currently made with what is called Fiat money.

But bitcoin has a limitation because of its form; as defined you cannot create more Bitcoin than 21,000 million so the question is, and when those 21,000 million do reach, what will happen? There is a theory that says that will never get it. However, compare that figure that we will stay a little before because the algorithm that produces bitcoin is adjusting its difficulty. Every time a certain amount of time passes, currently 15 days or three weeks pass, its problem becomes higher and higher, making it more difficult to find new Bitcoin. So, trade your cryptos at 1k-daily-profit.

When will the limit be reached?

It does currently know that there are about 16,000 million bitcoins in circulation, of which 4,000. They have lost because people do not know their passwords or backup issues. Five thousand left. To continue mining, one of the questions is when do you estimate that will do mined the last bit? According to experts, the date is between the years 2032 and 2140.

Currently, mining a bitcoin is much more profitable for miners than verifying a transaction because when a bitcoin transaction does make, it has to be confirmed.

The problem will be when the bitcoin runs out, and we no longer have 21,000 million, that will no longer be possible, then the only thing that the miners will be able to do is to confirm transactions that are going to go on the Blockchain in the Blockchain.

What will happen to the miner?

It would be like guessing and taking out the crystal ball to start speculating; in reality, indeed, the miners, after all, are still people who have invested a lot of money in mighty machines that consume a lot of electricity, which need a reasonably powerful return to be able to bear the cost of the equipment. The safest thing that the miner will do is that he could go where it is most profitable. It will see if bitcoin will continue to be mined or disappear A drastic change of time, such as digitization.

In reality, the subject on which all the experts and those studied agree that they handle new words or terms such as destructuring and new structuring, new paradigm, or radical transformation and refer to what they are going through.

We are only at the beginning of an insecure path, where the only constant is the progressive speed of innovation.

Can you imagine what tools will use in the future or the new technologies? It is something difficult to imagine in reality. In these times, technology has played a super important role. It multiplies to work, communicate, and train. We certainly do not know what tools we will use and which industries will generate new jobs in the future. It could note that we see ourselves in potentially irreversible processes for the first time in history. Our future is uncertain. We will leave everything in the hands of digitization and new technology.

Conclusions

Hard to know what will happen in the big unknown at the moment. However, if miners do not correctly reward, the network will go down as some think.

On the contrary, if it continues to function, as others believe, fewer and fewer Bitcoins will be in circulation, which will act as a store of value asset, so it will not be convenient as a means of payment.

Although it is complex to determine if bitcoin will disappear when issuing its limit amount proposed by its creators, we can be sure that there is no going back with the technological advances that the blockchain platform has generated date.

Bitcoin turned out to be a proposal to end inflation, and just 13 years after its creation, it has begun to create the expected results. It is positioning itself more and more, although it is clear that we must wait to generate a forecast as decisive as the end of Bitcoin.

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