Experts predict that the remaining bitcoins will be mined by 2140. Mining is the process of verifying transactions and adding new blocks to the Bitcoin network. This process is essential for the security and reliability of the Bitcoin network. When the total supply of Bitcoin reaches 21 million, miners will no longer receive block rewards and will instead rely solely on transaction fees for their income.
The rate at which new blocks are added to the Bitcoin network is set so that the last Bitcoin will not be mined until approximately 2140. This means that miners will have to rely on transaction fees for their income for over a century. However, if miners were to switch to a rewards structure based solely on transaction fees, it is likely that few miners would be able to mine Bitcoin profitably as they would only receive 6.5% of their typical rewards. It is clear that mining will remain an important part of the Bitcoin network for many years to come.
As such, miners must be prepared to adapt to changing conditions in order to remain profitable in the long run.
