The Last Bitcoin: What Will Happen Once All BTC Are Mined?

According to some experts, miners will still be essential to the Bitcoin ecosystem, even after the last coins have been mined.

Satoshi Nakamoto mined the genesis block on January 3, 2009, minting the first 50 bitcoins (BTC) in history and launching what would become a billion dollar industry centered around crypto mining. However, with a cap on Bitcoin supply, the fate of miners after the last coins are issued is unclear.

Bitcoin is created by mining, a process involving computer hardware to solve complex mathematical problems and verify transactions on the blockchain network. For their efforts, miners are rewarded with a predetermined amount of BTC for each block of transactions.

According to the Blockchain Council, over 19 million BTC have been awarded to miners in block rewards, and according to Nakamoto's whitepaper, only 21 million are available. Once this cap is reached, miners will no longer receive rewards for verifying transactions.

Speaking to Cointelegraph, Nick Hansen, founder and CEO of Bitcoin mining firm Luxor Mining, says that despite the loss of block rewards, miners continue to will play an essential role in verifying and recording transactions on the blockchain, but the way they are remunerated will change.

Currently, successful validation of a new block on the blockchain re...