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Title: Mining Payback Mechanics Post by: obszoenling on July 16, 2017, 02:28:57 PM Hey everyone,
I got two questions regarding the mining of crypto coins. Bitcoin has a max supply of 21,000,000 BTC. When this number is reached, how will it affect the mining? When there are no coins to mine there is no point in mining. No mining = no transactions. I heard that it gets more difficult to find new coins the more coins are already found. How does this affect the mining in general. Since the mining payback is not linked with the coin price, mining with lose efficiency the harder it gets to find coins. How is this handled? Title: Re: Mining Payback Mechanics Post by: oliviajizz on July 17, 2017, 03:28:43 PM miners will *mine for transaction fees whilst keeping the network secure. alot of things can happen between now and then. haha
Title: Re: Mining Payback Mechanics Post by: leowonderful on July 17, 2017, 03:34:05 PM In the far future all mining will be for transaction fees, as each halvening takes reward down until zero. As difficulty rises as more blocks are found, ASIC producers make their chips faster and more efficient. We are seeing diminishing returns in efficiency as time goes on due to the fact that we have largely caught up to the mainstream semiconductor industry and we now have to actually wait for new processes to come out.
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