Bitcoin's creator capped its supply at 21 million. Once mined, no more new bitcoins can be created without reprogramming the system.
Mining's complex problem-solving verifies transactions, securing the blockchain. It's essential for the functioning of the entire Bitcoin system.
Mining is integral to the blockchain, forming a self-perpetuating loop. If mining stops, the entire system could face catastrophic consequences.
With 18.2 million bitcoins already mined, only 2.8 million remain. The impending challenge is relying on transaction fees as mining rewards diminish.
After the last bitcoin is mined, miners must depend solely on transaction fees. The challenge is whether fees can sustain mining operations.
Mining requires substantial computing power, consuming electricity. Bitcoin's survival may depend on access to cheaper, renewable energy sources.
Advancements in quantum and organic-based computing could reduce energy dependence. However, the timeline for these breakthroughs is uncertain.
For sustained mining profitability, Bitcoin needs widespread global adoption. Increased usage, while beneficial, poses scalability challenges.