The Infinite Horizon: Bitcoin in the year 2140

40. The Infinite Horizon: Bitcoin in the year 2140

What happens when the last Bitcoin is mined in the year 2140? The node lifecycle will continue exactly the same way. The only difference is that miners will be paid entirely in "Transaction Fees" instead of "New Bitcoins." Bitcoin is designed to last for centuries. It is an "Eternal Machine." It is the "Infinite Horizon." It is the "Legacy of the Long-term." It is the "Future of the Faith."

The Halving Logic

Every 210,000 blocks (4 years), the reward for miners is cut in half. This continues until it reaches zero. This "Scarcity" is the engine that drives Bitcoin's value. It is the "Mathematics of the Millennia."

/**
 * Calculates the block reward based on the current height.
 * The reward is cut in half every 210,000 blocks.
 */
CAmount GetBlockSubsidy(int nHeight, const Consensus::Params& consensusParams)
{
    // The number of "Halvings" that have happened.
    int halvings = nHeight / consensusParams.nSubsidyHalvingInterval;

    // Shifting the reward bit to the right (Dividing by 2).
    return 50 * COIN >> halvings;
}

Explaining the Code: The Long Countdown

1. nHeight / 210,000: The "Clock of Scarcity." Every block brings us closer to the final limit of 21 million coins. This "Absolute Scarcity" is something that has never existed before in human history. It is the "Discovery of the Digital Gold."

2. return 0 (Eventually): In the year 2140, this function will return zero. But by then, the "Market for Space" in the blockchain will be so valuable that miners will be happy to work for fees alone. The lifecycle of the node will be complete, but the network will be eternal. It is the "End of the Beginning." It is the "Infinity of the Individual."