<center>https://bitcoinbonanza.co/wp-content/uploads/2019/10/transactionrates.png</center> <br/><p>Once miners unearth 21 million Bitcoins, that will be the entire amount of Bitcoins that will actually exist. But because of lost and forgotten wallets, the number of"busy" Bitcoins will be much lower than that and there's really no way to tell the specific number.</p>
<p>Bitcoins could be lost as a result of irrecoverable passwords, forgotten wallets from when Bitcoin was worth small, from hardware failure or due to the death of the bitcoin owner. It's extremely unlikely and economically impossible to recover missing coins. As of March 31st, 2015, the total value of missing bitcoins was estimated at roughly $1.23 billion USD. A more recent number from  2019 indicates that around 25 percent of those circulating bitcoins (that's just over 4 million) are"dead", that would bring the quote up to around $32 billion USD. In reality, there are today about 14 million Bitcoins in existence. </p>
<center><img src="https://bitcoinbonanza.co/wp-content/uploads/2019/10/bit-coin-mining-cryptocoin-illustration-1024x576-1024x576.jpg" alt="" class="wp-image-22645"/><br/><i><strong><a href="https://bitcoinbonanza.co/coins">Unlike dollars, euros, pounds, yen, yuan there can never be more than 21 million Bitcoins</a></strong> making Bitcoin inflation proof. </i>
<p style="text-align:center"><strong>When Will The Last Bitcoin be Mined?</strong></p>
<p>Many ask the question, "What will happen when all Bitcoins are mined? First we mus tunderstand the cncept of bitcoin halving. The Bitcoin reward for mining blocks is halved every four years. </p>
<p>This is an important concept to comprehend in order to completely understand when the final Bitcoin will be mined. Every four years or so, the amount of new bitcoin generated and earned by miners with each new block of transactions is cut half.</p>
<p>Currently, we are in reward age number 3 and there is roughly just under one more year to go before the mining benefit is lowered by half.  There will be a total of 34"reward eras".</p>
<p>In 2009 Buitcoins were awarded at the rate of 50 per block. Then it fell 25 bitcoins, and then to 12.5 bitcoins. In 2020, it is going to fall to 6.25 bitcoins.</p>
<p>So if we do the math, if there's a halving occasion every four decades, the last Bitcoin ought to be mined sometime in the year 2140.</p>
<p style="text-align:center"><strong>What Happens After the Last Bitcoin is Mined?</strong></p>
<p>Will the entire system shut down since Bitcoins are not granted for mining new blocks? Probably not. Bitcoin miners are also awarded transaction fees, and such fees must keep Bitcoin afloat. As the price of bitcoin increases, the fees allocated per each trade will also increase. Take a look at this chart outlining the Typical Bitcoin transaction fee over time:</p>
<img src="https://bitcoinbonanza.co/wp-content/uploads/2019/10/transactionrates-1024x438.png" alt="" class="wp-image-22647"/>
<p>Eventually, these transaction fees must become valuable enough it is going to encourage miners to keep on mining even though they will not be getting a block reward. So while fresh bitcoins will stop coming into existence, bitcoin miners will still get paid. Of course, some miners will be (and are) pushed out of the marketplace.</p>
<p>The idea of bitcoins someday being worth $50,000 or a $100,000, isn't outside the realm of reason. Currently, in the time of composing this article, the quickest and most affordable transaction fee is now two 50 satoshis or about $2.25 per block. Remember, ALL transaction fees go to the individual or people who mine the block.</p>
<p>However, this isn't something we must be concerned about in the moment. This is still over a century off! However, you should be warned that Bitcoin just recently struck a $170,000,000,000 market cap!</p>
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