What happens when 21 million Bitcoins are fully mined? Expert Answers
Mining expert Mohamed El Masri predicts Bitcoin will be worth around $430,500 when the last coin is minted.
Interview
When the last Bitcoin (BTC) is finally mined, the livelihoods of miners who depend on block rewards as a source of income will be affected. Despite this, the future of mining remains bright, according to a space expert.
In a Cointelegraph interview, Mohamed El Masri, the founder of mining solutions provider PermianChain, spoke about new players getting into mining, the future of mining, and what happens to mining profitability after minting the 21 millionth BTC.
El Masri underlined that efficiency is a very important objective that new players in space must take into consideration. Because mining profit depends on the efficiency of a mining operation, the executive noted that efficiency minimizes the cost of energy.
[embedded content]Asked about the future of the mining space, the executive said it was not always about profit. El Masri said the future of the mining industry hinges on what he described as “true bitcoin miners” who value block resolution more than how much BTC they can convert in fiat currency. The executive noted that these types of miners will be the main operators in the space. He explained that:
“The future of Bitcoin mining depends on the continued commitment of industry players to support the infrastructure of this monetary and financial breakthrough, at any cost necessary.”
The executive also shared his predictions of what the industry will look like once the last BTC is mined. According to El Masri, when the time comes, a BTC mining business can still be profitable because transaction fees will replace block rewards as a source of income for miners. Until then, the mining executive pr...
Mining expert Mohamed El Masri predicts Bitcoin will be worth around $430,500 when the last coin is minted.
Interview
When the last Bitcoin (BTC) is finally mined, the livelihoods of miners who depend on block rewards as a source of income will be affected. Despite this, the future of mining remains bright, according to a space expert.
In a Cointelegraph interview, Mohamed El Masri, the founder of mining solutions provider PermianChain, spoke about new players getting into mining, the future of mining, and what happens to mining profitability after minting the 21 millionth BTC.
El Masri underlined that efficiency is a very important objective that new players in space must take into consideration. Because mining profit depends on the efficiency of a mining operation, the executive noted that efficiency minimizes the cost of energy.
[embedded content]Asked about the future of the mining space, the executive said it was not always about profit. El Masri said the future of the mining industry hinges on what he described as “true bitcoin miners” who value block resolution more than how much BTC they can convert in fiat currency. The executive noted that these types of miners will be the main operators in the space. He explained that:
“The future of Bitcoin mining depends on the continued commitment of industry players to support the infrastructure of this monetary and financial breakthrough, at any cost necessary.”
The executive also shared his predictions of what the industry will look like once the last BTC is mined. According to El Masri, when the time comes, a BTC mining business can still be profitable because transaction fees will replace block rewards as a source of income for miners. Until then, the mining executive pr...
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