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After all Bitcoins are mined, with what incentive does the miners continue to verify transactions?
The only reason they are mining now is because they get block rewards. That's how they stay profitable. But what happens after all the 21M bitcoins are mined? There's nothing left to mine. At what cost would the ASICC miners continue to operate? Clearly the fees will never be enough. Even if the fee got way too high to a point the miners are profitable, it wouldn't make sense for the average user to use bitcoin due to it's high fees. So how would this work out? submitted by /u/Maleficent_Return485 [link] [comments]
The only reason they are mining now is because they get block rewards. That's how they stay profitable. But what happens after all the 21M bitcoins are mined? There's nothing left to mine. At what cost would the ASICC miners continue to operate? Clearly the fees will never be enough. Even if the fee got way too high to a point the miners are profitable, it wouldn't make sense for the average user to use bitcoin due to it's high fees. So how would this work out?
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