Urlaub on Nostr: Around the year 2140, the Bitcoin block subsidy will cease to exist. This means newly ...
Around the year 2140, the Bitcoin block subsidy will cease to exist. This means newly "minted" Bitcoin will no longer be awarded to miners for processing transactions.
Instead, transaction fees will become their sole source of revenue. To maintain profitability, miners will need to ensure these fees exceed their operational costs, such as hardware and electricity expenses.
However, it's projected that by 2140, advancements in technology will lead to significantly cheaper energy costs and more efficient hardware, ensuring cost-effective mining operations.
I other words: Bitcoin has the potential to pave the way toward energy abundance. By incentivizing innovation in energy production and efficiency, it could be a key technology in humanity's progress towards a Kardashev Type II civilization.
Instead, transaction fees will become their sole source of revenue. To maintain profitability, miners will need to ensure these fees exceed their operational costs, such as hardware and electricity expenses.
However, it's projected that by 2140, advancements in technology will lead to significantly cheaper energy costs and more efficient hardware, ensuring cost-effective mining operations.
I other words: Bitcoin has the potential to pave the way toward energy abundance. By incentivizing innovation in energy production and efficiency, it could be a key technology in humanity's progress towards a Kardashev Type II civilization.