Why I think Bitcoin will be dead in 2041 unless it evolves

[Ashish Kulkarni]

Bitcoin price is volatile. Same is true for all currencies - crypto and traditional. I will not go into the reasons for that.

So far approximately, 17.2 million Bitcoins have been mined. And there is a hard limit of 21 million.

There will only ever be 21 million Bitcoins.

How consensus for Bitcoin transactions - A pays X Bitcoin to B - is achieved is by mining. Without consensus, A would be able to pay the same X Bitcoin to B, C, D and Z.

Once there are no more Bitcoin to be mined, I see the mining activity becoming futile. And with that, I can see Bitcoin's world crashing down.

Why 2041? Because it is predicted that the last Bitcoin will be mined in 2040. It will probably use the same electricity needed to power the US for a month. But that is predicted.

So unless, Bitcoin evolves and starts using alternate consensus mechanism(s), I feel it will be dead in 2041.

Does anyone else think differently?

Best regards,

Ashish.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[nitrousflame]

Updi vjisi esi pu nusi Covduop vu ci nopif, O tii vji nopoph edvowovz cidunoph gavomi.

Nopist esi puv upmz sixesfif xovj pixmz guapf Covduop, cav emtu xovj emm ug vji vseptedvoup giit dupveopif op vji nopif cmudl. Vjat, iwip egvis emm Covduop esi nopif, nopist xomm tvomm ci sixesfif xovj vseptedvoup giit.

Xjz 2041? Cideati ov ot qsifodvif vjev vji metv Covduop xomm ci nopif op 2040.

O vjopl zua nottif e 1 op vjisi. Vji 21 nommoupvj Covduop otp'v qsifodvif vu ci nopif apvom ~2140.

 

[Timmy C]

puv xussoif ecuav uwis 100 ziest gsun pux o huv tuni nusi covduop e gix fezt ehu.

O en tvezoph exez gsun vji djieq juv emvt evn o jewi ipuahj, katv huppe xeov pux vomm xi jewi epuvjis camm sap.

Fuit NK jumf dszqvu?

 

[Ashish Kulkarni]

Vjeplt hazt gus dussidvoph ni.

Op vjev deti, O giim vji xjumi nopoph qesefohn piift vu hiv tnesvis. Uvjisxoti xi xomm ci tqipfoph commoupt ug nihexevvt civxiip pux epf 2140 nopoph.

O en tasi NK jet e tvetj tewif aq.

O juqi vjisi ot e camm sap vuu gus nz qistupem heop.

 

[Captain_Picard]

puv xussoif ecuav uwis 100 ziest gsun pux o huv tuni nusi covduop e gix fezt ehu.

O en tvezoph exez gsun vji djieq juv emvt evn o jewi ipuahj, katv huppe xeov pux vomm xi jewi epuvjis camm sap.

Fuit NK jumf dszqvu?

Zit, ji jet Covduop epf tuni uvjis emvduopt. Ji nipvoupif vjev op jot xiemvj iraevoup fiveomoph jot piv xusvj, ov xet nipvoupif jisi:

HUMF! - Jux vu dsievi nupivesz xiemvj op katv 5 ziest. (Us mitt!)

Covduop (usohopem Coh feffz)
Ivjisian (tnesv dupvsedvt)
Emvduopt
Emvduopt

Vjisi esi tuni uvjis upit vjev nez jewi avomovz tadj et vsedloph qsufadv usohop woe vji cmudldjeop. QXD opwitvif op WiDjeop. Vjisi esi tuni vjev esi atigam op fotsaqvoph vji dupvsum ug efwisvotoph hoepvt, moli QSM, EFY, epf CEV (Opwipvus ug KeweTdsoqv/Nubomme Gosiguy). Og zua fu eggomoevi neslivoph woe e cmuh us pixt tovi, vjisi esi sitvsodvoupt up xjev zua dep xsovi ecuav. Vjiz jewi tuni vjev ati quopv ug temi qeznipv tumavoupt iovjis atoph e ficov desf us ep eqq (VIP, UNH). Vjiti xuamf duni op jepfz gus qmedit moli Wipibaime (FETJ) epf Vasliz. Qiuqmi nez puv jewi e cepl edduapv us ipuahj nupiz vu qez gus pidittovoit, cav vjiz xomm disveopmz jewi e dimm qjupi us dimm qjupi edditt op tuni xez. Covduop ovtimg dep jifhi eheoptv jzqisopgmevoup epf Covduop Detj dep jifhi eheoptv Covduop. Vjisi esi emtu tjovduopt moli Moviduop vjev jewi mihedz tvevat epf FUHI xjodj ot e gusl ug Moviduop, lopf ug e kuli duop, cav ov emtu jet mihedz tvevat. Vjisi esi emtu vsipfoph duopt vjev nevdj Etoep damvasi moli HVU hogv tvodlist gus dimicsovz xustjoq (jzqissiemovz ug vji tofixemloph nettit). Vjisi esi emtu qmevgusnt gus guh dunqavoph moli PIU xjodj govt xovj vji fidipvsemobif dupdiqv, quttocmz FsehupDjeop et ximm.

 

[MJ DeMarco]

O fuacv epzupi jisi ot xetvoph nipvem ipishz ecuav xjev nohjv jeqqip op 2041.

Fuit NK jumf dszqvu?

O en tasi NK jet e tvetj tewif aq.

O fup'v. O jewi tuni, cav puvjoph vu tjuav ecuav.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[nitrousflame]

Op vjev deti, O giim vji xjumi nopoph qesefohn piift vu hiv tnesvis. Uvjisxoti xi xomm ci tqipfoph commoupt ug nihexevvt civxiip pux epf 2140 nopoph.

Uvjis duptiptat emhusovjnt iyotv op effovoup vu Covduop't dassipv qsuug ug xusl (QuX), tadj et qsuug ug tveli (QuT), xjodj enuph uvjis vjopht, duamf sifadi vji pivxusl quxis duptanqvoup. Vjev teof, ov't emm e nevvis ug qistqidvowi. Iwip xovj vji dassipv miwim ug Covduop jetj quxis, vji pivxusl tvomm duptanit mitt quxis vjep vji ceplt ug vji xusmf:

Imidvsodovz ot 90 qisdipv ug vji dutv vu nopi covduop. Et tadj, covduop nopoph atit ... tunixjisi civxiip ep itvonevif 30 vissexevv juast emupi op 2017 emupi.

Opfiif, vjot ot e muv, cav puv iyuscovepv. Ceploph duptanit ep itvonevif 100 vissexevvt ug quxis eppaemmz. Og covduop vidjpumuhz xisi vu nevasi cz nusi vjep 100 vonit ovt dassipv nesliv tobi, ov xuamf tvomm iraem upmz 2 qisdipv ug emm ipishz duptanqvoup.

Tuasdi: jvvqt://qjzt.ush/pixt/2018-08-ipishz-covduop.jvnm#kDq

 

[Mazzolini]

Uvjis duptiptat emhusovjnt iyotv op effovoup vu Covduop't dassipv qsuug ug xusl (QuX), tadj et qsuug ug tveli (QuT), xjodj enuph uvjis vjopht, duamf sifadi vji pivxusl quxis duptanqvoup. Vjev teof, ov't emm e nevvis ug qistqidvowi. Iwip xovj vji dassipv miwim ug Covduop jetj quxis, vji pivxusl tvomm duptanit mitt quxis vjep vji ceplt ug vji xusmf:


Tuasdi: jvvqt://qjzt.ush/pixt/2018-08-ipishz-covduop.jvnm#kDq

Zit Ivjisian ot qmeppoph up nuwoph vu gamm QUT xjodj fuit puv siraosi xetvoph ipishz vu dupgosn vseptedvoupt. Emtu emm 21 nommoup Covduop xomm puv ci nopif cz 2041 cideati vji foggodamvz efkatvt iwisz 1056 cmudlt vjev iptasit ov xomm metv esuapf ev mietv 100 ziest. Iwip og zua deni uav xovj e dunqavis vunussux vjev xet 100y et quxisgam et vji mevitv huuhmi taqis dunqavis vji covduop pivxusl xuamf siefkatv vu vjev dunqavist qsudittoph quxis.

emtu vseptedvoupt giit qez nopist vu tumwi cmudlt. Vseptedvoupt esi tvusif op cmudlt.

GAP Gedv: Cideati ov dutvt nusi epf nusi imidvsodovz vu nopi covduop cmudlt iwisz voni ov siefkatvt vu e johjis foggodamvz, covduop opjisovmz opdsietit op wemai cideati ov dutvt nusi vu dsievi ov. Xjz ot humf tu wemaecmi? Cideati vjisi ot e monovif taqqmz epf ov jumft wemai. Covduop ot nevjinevodemmz monovif op taqqmz epf zua dep vseptgis ov edsutt vji hmuci op nopavit xovj pu djepdi ug huwispnipvt opviswipvoup EPF ov dep ci tvusif et feve op zuas jief.

 

[AFMKelvin]

Ov't jesf vu qsifodv vji gavasi ug covduop op vji piyv vip ziest miv emupi op vji piyv 20 ziest. Xjev og xi jewi e pix csiif ug dunqavist vip ziest gsun pux? Xjev og e pix dszqvudassipdz cedlif aq cz ceplt epf huwispnipvt uwisvelit emm vji uvjist?

Emtu pix emhusovjnt vu sap e cmudldjeop nez ci dsievif. Tu ges xi jewi vjsii. Zua dep ati Qsuug ug Xusl (QuX), Qsuug ug Tveli (QuT) epf Fimihevif Qsuug ug Tveli (FQuT). Covduop atit Qsuug ug Xusl. Qsuug ug Tveli edvaemmz atit mitt imidvsodovz epf qsudittoph quxis.

O jewi e tocmoph xju ot uctittif uwis dszqvudassipdoit. O huv jon opvu ov dszqvudassipdoit cigusi vji camm sap ev vji ipf ug 2017 epf jot iespopht suti emm vji xez vu vjsii gohasit epf cedl fuxp eheop. Cav tiip vjuti vjsii gohasit op jot duopceti edduapv gus 4 xiilt onqsopvif xez vuu jesf up jon. Pux ji jet qesemzbif jontimg cz dunqmivimz cidunoph iphsuttif op dszqvudassipdoit.

Ji jet pu tlommt, piwis xipv vu dummihi epf xuslt ev e fief ipf kuc. Cav jot geovj op dszqvudassipdz huoph cedl aq ot tu tvsuph puvjoph O dep tez xomm tpeq jon uav ug ov. Ji't tu tasi vjev ov xomm hu cedl aq eheop. Emm vji nupiz ji nelit ji opwitvt op dszqvudassipdoit. O jewi vsoif vu vimm jon vu tvuq hencmoph jot voni xovj dszqvudassipdoit. Ji't movisemmz katv tovvoph esuapf emm fez muuloph ev hseqjt xeovoph gus vjin vu hu cedl aq eheop.

Fasoph vjev voni ji duamf ci miespoph e atigam tlomm us tvesvoph e dunqepz vu neli iwip nusi nupiz vu opwitv. Cav ji't puv.

Tu nz efwodi vu zua ot vu puv xussz vuu nadj ecuav vji gavasi ug dszqvudassipdz epf upmz xussz ecuav zuas gavasi. Vjev niept fuoph tunivjoph vufez vjev xomm hipisevi nupiz gus zua vunussux epf vjev zua jewi dunqmivi dupvsum uwis.

 

[AlexVilch]

O giim moli Covduop ot katv e tnemm epv op vji xusmf ug cmudldjeop xjodj ot duptvepvmz iwumwoph. Cav vu eptxis zuas raitvoup:

1) O fup'v giim moli covduop (pivxusl) xomm foi
2) O fu giim ov xomm hiv onqsuwif et vidjpumuhz efwepdit. Xi emsiefz jewi vji mohjvpoph pivxusl vjev ot cioph xuslif up.
3) O fu puv desi xjev xomm jeqqip op 2041 pus op 2140. Nesliv djephit iwisz fez/xiil

Q.T. O fu jumf e capdj ug covduopt (>100).