What's the future of bitcoin mining?

[Lyrrex]

Research shows that only 206 million bitcoins can be mined.

Since the bitcoin splitting this year, is never been easy for individual miners.
Could mining btc still be a profitable venture for newbies?
When the 206 million limit is reached, what would be the next move for bitcoin miners/industries?

 

[gammarays]

Bitcoin mining will be a but more expensive because of its increase in value. So placing it in the hands of the low end user may be unprofitable in the long run. Better to mine other coins and convert to BTC.

 

[Suba]

Well, I will briefly answer some of your questions, Actually, before the Bitcoin Halving, individual Bitcoin miners were less profitable, of course it is still profitable if newbies join the mining pool, although in quantity, mining Bitcoin has decreased mining results but converted to USD will be profitable. Of course, if all Bitcoin has been mined (predicted 2040) then the miner reward (new Bitcoin) will no longer exist but bitcoin miners will get a fee from the results of Bitcoin transactions.

 

[Josemendez]

Bitcoin Mining is profitable but it is getting expensive with time . Considering that there is lesser block left to be mine , it's Mining is not really easy

 

[Peterlight]

Mining bitcoin is very expensive not to talk of its value. Am sure once the limit is reached bitcoin should have added more blocks to be mined

 

[Ehizzy1]

I think if the limit is reached , miners would obviously find another means to earn profit , and before the limit is reached it would really take long

 

[Ralphjoe]

Bitcoin mining is a very difficult and complex process that requires a lot of energy to be able to mine it. I don't see the process of mining bitcoin ever reducing in complexity because it will always make use of the blockchain technology which is quite difficult to come by and so therefore I see the future of mining for newbies to be very bleak.

 

[Nomad]

Since bitcoin is created through mining process, untill all 21 million bitcoins are mined, mining will be very rewarding. However, in order to benefit from mining, you will have to set up mining rig.