When will bitcoin reach 21 million

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• Bitcoin at $1 million? Some analysts are bullish but others warn of risks ahead
• mining theory - What happens when the 21 million cap is reached? - Bitcoin Stack Exchange
• Bitcoin at $1 million? Some analysts are bullish but others warn of risks ahead
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Musk and Square founder Jack Dorsey are both supporters of bitcoin. Meanwhile, global central banks have been easing monetary policy — such as lowering interest rates and buying assets through the so-called quantitative easing program — to help cushion the blow to economies hit by the coronavirus pandemic. Instead, the so-called bitcoin network is made up of miners who process transactions.

These miners operate a vast array of specialized computers required to carry out the bitcoin mining process. As there are many different miners, no single entity can control the network.

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• What Happens to Bitcoin After All 21 Million Are Mined?.
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And because the computers they use are often very powerful machines, bitcoin proponents claim the network is one of the strongest computer networks in the world. As there is more liquidity, there is more utility.

As there's more utility, there's more stability in the price … you get kind of this evolution," Pompliano said. Gold is broadly accepted as a "safe haven" asset where investors flock to in times of political strife or financial market turmoil. Bitcoin is now beginning to develop such a reputation.

Given there's at least years before bitcoin miners are likely to face the reality of its finite capacity, you can expect that new methods and new protocols will inevitably make the market unrecognisable to the one that's currently operating today.

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As a reward, these nodes receive bitcoins. My question is once the 21 million bitcoin cap is reached, doesn't that mean there's no incentive to validate transactions anymore? Won't the whole network essentially cease to function?

Bitcoin at $1 million? Some analysts are bullish but others warn of risks ahead

Miners who will no longer be mining, but will be validating transactions in the blockchain will earn transaction fees. What those fees amount to or are to be interpreted as are hypothetical at this point, but might be imagined to be a transaction cost that ensures the security of the ledger. If the transaction fees from miners are not sufficient to maintain the security of the ledger, than the network will self-destruct. Think about it, at that point who cares if mining is not profitable? All the computer power will come from small powerful low power usage devices that will cost pennies.

Decentralization, all the mining and such that is going now is just baby steps for bitcoin or its replacement , the money flowing into bitcoin disguised as "profit" to miners is really just the world slowly building a monetary base to support the coin and development of the network. Free-Market economics based on profit will evolve out of mine to profit into "mine to mine for the sake of keeping your savings secure", just like how we let banks charge us absurd interest on loans for the sake of making the transactions somewhat secure and keeping the money system "going" Bitcoin is star-trek level money, we need to reach global prosperity while minting the new monetary system into existence.

I don't think the 21 million cap will ever be 'reached'. It will be approached, but it is designed similarly to an asymptote.

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The rewards will just be halved indefinitely. The idea is the reward will increase in value with the deflation of bitcoin together with the accumulated transaction fees of the network. Sign up to join this community.