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Title: In what year would mining rigs be useless? Post by: clonedone on April 25, 2011, 11:25:33 PM im assuming around 2017, when 21 million is reached?
then after that we would be mining for transaction fees right? would they even be worth it? Title: Re: In what year would mining rigs be useless? Post by: TurdHurdur on April 25, 2011, 11:36:59 PM They better be, for the strength of the Bitcoin network.
Title: Re: In what year would mining rigs be useless? Post by: grue on April 26, 2011, 12:34:28 AM if mining is unprofitable, miners will drop out, and the difficulty will fall. Eventually, it will be low enough that it's profitable again.
Title: Re: In what year would mining rigs be useless? Post by: BitLex on April 26, 2011, 12:48:41 AM and besides all that, someday-nonexistant-rewards and however-low-fees,
everyone who's holding some savings in BTC will have an incentive to keep mining, or pay others todo so, because if noone's mining, all those savings would be worthless. so, to answer your inital question: never! Title: Re: In what year would mining rigs be useless? Post by: clonedone on April 26, 2011, 01:15:39 AM awesome thanks guys
then maybe I may invest in a mining rig Title: Re: In what year would mining rigs be useless? Post by: rezin777 on April 26, 2011, 01:46:12 AM Nah... it won't be worth it man! Do you have any GPUs for sale?
Title: Re: In what year would mining rigs be useless? Post by: TiagoTiago on April 26, 2011, 02:51:47 AM I wonder how bad the market will behave during the transition period while most miners will not be breaking even but people will still not be used to paying larger sums to get their transactions verified...
Title: Re: In what year would mining rigs be useless? Post by: clonedone on April 26, 2011, 02:39:52 PM I just bought a rig off newegg with three 6990's
should I have gotten three 5870's instead? the whole thing cost me a lil less than 3k Title: Re: In what year would mining rigs be useless? Post by: proudhon on April 26, 2011, 02:49:11 PM I just bought a rig off newegg with three 6990's should I have gotten three 5870's instead? the whole thing cost me a lil less than 3k Why 3 5870's instead? With 3 6990s you'll be doing ~2000Mhash/s. Title: Re: In what year would mining rigs be useless? Post by: clonedone on April 26, 2011, 02:51:48 PM ohh i only ask this cus i barely see the 6990's being mentioned around here, I guess its just expensive
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