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.
