An interesting point — when the last Bitcoin is mined, it won't be such a distant event in the course of history anymore. According to the network's calculations, this will happen around the year 2140, but looking at the current mining pace, you realize we're already on the final stretch.

I look at the numbers and see that there are already over 20 million BTC in circulation out of the maximum possible supply of 21 million. That's about 95% of all the Bitcoin that will ever exist. Only about 1 million coins remain, which will be gradually released over the coming years.

Do you know what's behind this? The halving. Every four years, the reward for mining a block is cut in half. I remember when it was 50 BTC per block, then it became 25, then 12.5, and now 3.125 BTC. This mechanism was specifically designed by Satoshi to create scarcity and slow down the issuance of new coins as it approaches the limit.

What will happen when the last Bitcoin is mined and halving can no longer reduce the reward? Miners will fully switch to transaction fees. This is a critical moment for the network — fees need to be high enough to maintain blockchain security and incentivize miners to keep working.

My opinion is that if Bitcoin remains popular and in demand, transactions will continue actively, fees will find their level, and the network will keep functioning normally. It’s a matter of supply and demand, as always in crypto. It'll be interesting to see how all this unfolds in 2140.