How will miners generate income when all the bitcoins will be generated?
How will miners generate income when all the bitcoins will be generated?
Greetings friends!
According to Bitcoin mining, Bitcoin is mined when the miners are able to generate a block. They get Bitcoin as a reward for their efforts. We know that the amount of maximum generated bitcoin is fixed. In that scenario what will happen when all the Bitcoin will be generated? How will miners generate income? Do you know the answer? If yes, then inform me through your comment.
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transaction fees...
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@abbak7 is right. It will be transaction fees after around 2140. With the halving rate it will take around 38 years to fully mine the last bitcoin so a whole generation will be growing up and getting used to proof of work mining very small amounts of satoshis per block by then.
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Thank you for informing me.
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From Bitcoin Network Transaction Fees
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