When Bitcoin mining stops—meaning all 21 million bitcoins have been mined (estimated around 2140)—several key things will happen:
1. No More Block Rewards
Right now, miners receive a block reward (currently 6.25 BTC) plus transaction fees for validating transactions.
Once all bitcoins are mined, the only incentive for miners will be transaction fees.
2. Transaction Fees Become the Primary Incentive
Miners will continue validating transactions, but their revenue will come solely from fees.
If fees aren’t high enough, some miners may shut down, potentially making the network less secure.
3. Network Security & Mining Economics
Fewer miners could mean lower hash power, making Bitcoin more vulnerable to attacks (e.g., 51% attack).
However, if Bitcoin’s adoption and price continue to grow, transaction fees could be sufficient to maintain strong mining activity.
4. Bitcoin Becomes Deflationary
With no new supply entering the market, Bitcoin’s fixed supply could drive price appreciation, assuming demand remains high.
Lost BTC (from lost keys, forgotten wallets) could further reduce supply.
5. Potential Protocol Changes
Bitcoin’s protocol could be modified (e.g., through a soft fork) to address economic or security concerns.
Alternative incentive mechanisms might be introduced.