mrazjava
Posts: 1
Joined: Tue Nov 14, 2017 8:43 am

Life after 21M coins mined, will fees lead to miners having all coins?

Tue Nov 14, 2017 8:50 am

Hi,

So I've read many articles on life after last bitcoin is mined. I understand the idea that after all coins are mined, miners will solely rely on transaction fees to support the network. My question is the following.

Assuming that by then, bitcoin is the mainstream and fiat currency is no longer in circulation, meaning all fees are paid via bitcoin, and further assuming that miners won't spend coins amassed via transaction fees, wouldn't one day far in the future miners would end up with all the bitcoins ?

That's the part I don't get.

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FlyButterfly
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 53
Joined: Thu Nov 09, 2017 4:44 am

Re: Life after 21M coins mined, will fees lead to miners having all coins?

Tue Nov 14, 2017 8:56 am

But they have to pay for electricity, hardware, food, holidays, taxes, cars, homes, services....they would be giving BTC back into world.

If banks charge you $1 per transaction, it doesn't mean, that the banks will end up with 100% of worlds money.
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