Who will mine the last mine Bitcoin?

Written by mariusk | Published 2020/01/24
Tech Story Tags: bitcoin | who-will-mine-the-last-bitcoin | climate-change | blockchain-development | bitcoin-mining | btc-proof-of-work | what-will-replace-bitcoin | latest-tech-stories

TLDR The last Bitcoin is supposed to be mined in 2140 and will be mined within the next 10–20 years. Who will mine the last Bitcoin? The answer is simple: No one, because humanity doesn't exist anymore. Bitcoin isn’t using PoW anymore or has increased their supply limit. Bitcoin has long been replaced by a different blockchain and disappears into insignificance (80% chance) This will happen anyway within 10-20 years most likely. If we go by these estimates, this gives us an overall chance of (1-0.3) * (1–0.9) * * (0.8) *(1- 0.6) = 0.84%via the TL;DR App

Who will mine the last Bitcoin?
This is a quite interesting question and the answer is simple:
No one, because when the last Bitcoin is supposed to be mined in 2140
1. Humanity doesn’t exist anymore (30% chance)
2. Blockchain has been replaced by something else, maybe inter-concious communication or telepathy through brain wave communication devices (90%)
3. Bitcoin has long been replaced by a different blockchain and disappears into insignificance (80% chance)
4. Bitcoin isn’t using PoW anymore or has increased their supply limit. This will happen anyway within the next 10–20 years most likely (60% chance).
If we go by these estimates, this gives us an overall chance of (1–0.3) * (1–0.9) * (1–0.8) *(1- 0.6) = 0.84% for someone actually mining the last Bitcoin, a very tiny chance.
Keep in mind that point 3. and 4. will most likely already happen within the next 10–20 years.

Written by mariusk | Marius Kramer is the №1 writer and influencer on Bitcoin, Cryptocurrencies on Quora worldwide
Published by HackerNoon on 2020/01/24