Proof of work may be outdated now; but seems to be very popular for BTC, so it will probably always exist as POW until all BTC is mined; I wonder what BTC will be worth then?
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Proof of work may be outdated now; but seems to be very popular for BTC, so it will probably always exist as POW until all BTC is mined; I wonder what BTC will be worth then?
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The limit of Bitcoin it's 21 milion cause of a Mathematic Geometric Series given by the Halving of the Block's rewards every 4 years. That does not mean that we will stop to mine but this mean that the last Bitcoin (not Sastoshis) will be mined in 2140. So it's right that the mining difficulty will be High but it's also right that Technology is constantly evolving and also that in 2140 the price of every Satoshi could be really hight (who knows? 100.000$?) . Anyway Miners will earn money from all the Fees Transactions so who will have a big data center could earn from them and will not need any Block Rewards so the solution could be to switch to Proof of Stake when all Bitcoin will be mined cause all the coins are mined and everyone in the world will have Bitcoin so everyone could be the miner and the node