Bitcoin Forum
June 19, 2024, 08:38:11 PM *
News: Voting for pizza day contest
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Mining / Philosofical question on: January 10, 2014, 07:28:00 AM
If we accept nowadays that we will still be using BTC after all mining be done (21 M coins), as the miners will continue the blockchain by earning the transaction's fees, why dont we accept that we in fact dont need to mine theses coins at all?

We could stop at this present moment  (@ ~12 M coins) and prevent spending all this energy and resources to mine virtual coins. Instead, miners could use the money of buying ASICs and stuff to invest in Bitcoins startups that solves real problems like security and education of use.

A "great" consequence of this would be that the BTCUSD price would go up since there would be far less offer of coins (~ theoretical double, 12M/21M).

I would like more experienced btcoiners to explain to me why this isnt good.

Regs
Lyhue
2  Other / Beginners & Help / Re: Ain't Newbie on: January 08, 2014, 11:29:27 PM
Me too.

Brazilian long-time BTC fan. Just starting on the forum now. Hope to invest in BTC startups soon.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!