Do you know what the Bitcoin mining reward will be in 2140?

With the Bitcoin mining reward halving approaching in 2020, many are looking to the future, trying to predict what the mining industry will look like 100 years from now. All we know is that miners will only receive 1 satoshi per block the last time they mine Bitcoin, but how much will it be worth by then?

Every Satoshi Counts

Bitcoin mining has become popular again this year after the price of Bitcoin successfully returned to the psychological level of $10,000. Since the end of the crypto winter, Bitcoin's hash rate has continued to break previous records as more computing power is invested in the network.

As many people already know, the BTC mining reward is halved every 210,000 blocks. Since each block lasts about 10 minutes, the halving process occurs approximately every four years.

The next halving process is scheduled to take place around halfway around April/May 2020, when the mining reward will drop from the current 12.5 BC/block to 6.75 BTC/block. As the halving continues, experts predict that the total supply of 21 million bitcoins will be mined by 2140. By that time, the mining reward will drop to just one satoshi (0.00000001BTC) per block.

Bitcoin’s Reward History

BTC mining began on January 3, 2009, when Bitcoin’s creator Satoshi Nakamoto mined the Genesis block, Bitcoin’s first block. At that time, the mining reward was 50 BTC per block, which at today’s prices is a staggering $420,650 per block.

When designing the Bitcoin mechanism, Satoshi Nakamoto programmed the block reward to gradually decrease as demand for the asset increases. This programmable scarcity makes Bitcoin unique among fiat currencies and precious commodities.

Once the year 2140 has passed, miners will receive revenue solely from BTC transaction fees. By that time, the expectation is that Bitcoin will be able to process tens of thousands of transactions per block, which will generate enough revenue for miners to stay afloat. In the next 120 years, there will also be significant improvements in clean energy, not to mention advanced mining equipment, which will make mining much more financially viable than it is today.

How much is 1 satoshi worth in 2140?

The mining industry is full of speculation, and many have been wondering if mining will continue to be popular in the future with fewer rewards. Many have been wondering what the value of BTC will be in the next 120 years.

Some market commentators believe that the price of Bitcoin could go as high as $4,205,714 per coin, while some believe that the price of one satoshi could be as high as $1,000.

Another consideration is whether China will continue to be the cryptocurrency mining powerhouse it is today, or another country will take its place. Bitcoin mining was banned in Asia in the first half of the year, and the idea was removed from the list of industries and activities that should be banned (eliminated) a week or two ago. Now, we see Bitmain and many other mining companies setting up factories in Texas to take advantage of its stable renewable energy opportunities.

However, it is impossible to truly say what the future holds for cryptocurrencies as so much is expected to change over the next century.

The original article comes from bitcoinist and was translated by the BluemountainLabs team. The English copyright belongs to the original author. Please contact the translator for Chinese reprint.