1
At today's rate of progression when will the market cap of 21 million be reached? If bitcoin increases at such a rate. In addition to this, is it true that when the market cap is reached, miners will still get transaction fees? If so, how much will these transaction fees be?
2
Bitcoin will hit its maximum of 21,000,000 coins in approximately the year 2140.
After that, there will be no "reward" for mining, and the only incentive will be transaction fees. Transaction fees will continue to be set by the market (as they are now), depending on how much people are willing to pay.
No one can say with certainty what the fees will be at that time.
I think you're mistaken. How did you arrive at 2024? Do you know that the mining reward halves every 210,000 blocks? See the questions I've linked above. – Murch – 2017-06-19T22:19:12.347
You're right. I read the table at: https://en.bitcoin.it/wiki/Controlled_supply very quickly, and saw the bottom number was 2024. At that point, more than 93% of all bitcoins will have been mined. But mining will continue. That same article predicts the last reward will be on May 7th, 2140 (with certain assumptions)
Well, 99% are mined in 2032, so the reward will be very small long before mining stops completely. So, there would be some merit to mentioning earlier dates, but they need to be explained better. ;) I calculated some figures around the reward schedule here: https://docs.google.com/spreadsheets/d/12tR_9WrY0Hj4AQLoJYj9EDBzfA38XIVLQSOOOVePNm0/edit#gid=0
possible duplicate of https://bitcoin.stackexchange.com/q/161/5406, https://bitcoin.stackexchange.com/q/5275/5406
– Murch – 2017-06-19T22:16:46.130