What happens when bitcoinreaches its limit?

When Bitcoin is close to reaching its limit, the reward amounts may not be enough to cover operational costs at miners, let alone generate profits. If and when the supply limit is reached, Bitcoin rewards are supposed to vanish. In both instances, transaction fees are expected to pick up the slack.

Why is the US refusing to recognize bitcoin as a currency?

Some, like El Salvador, have adopted it as currency. But major economies, including the United States, refuse to recognize it as legal tender. They have good reasons for doing so. Among other things, Bitcoin enables the citizens of a country to undermine government authority by circumventing capital controls imposed by it.

How much bitcoin can you get in El Salvador?

Now, Bukele and El Salvadoran officials are taking things a step further, offering every citizen 18 and older $30 in Bitcoin, provided they open accounts with the government's official Bitcoin wallet called Chivo. Salvadorans will be able to transact in both Bitcoin and U.S. dollars through Chivo, once the Bitcoin law is implemented on Sept. 7.

Is bitcoin a threat to government?

Governments around the world are eyeing Bitcoin's advance warily because it has the potential to upend the existing financial system and undermine their role in it. In its current form, Bitcoin presents three challenges to government authority: it cannot be regulated, it is used by criminals, and it can help citizens circumvent capital controls.