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RE: What happens if the last Bitcoin is mined?
With limited supply value should indeed increase, not decrease. There is no other way. Then all existing Bitcoins will be traded like ordinary stocks, with no mining.
Yes, but there will be no btc to be mined, and miners will only profit from transaction fees.
So in my opinion a lot of miners will step over to other coins. I don't know how much but we will see a change I think. And they other ones might profit from the rewards because the price could increase a lot.