Mining won't end. But mining with a profit certainly will for many if not most people.
It's all a gamble but most likely by the end of this year only the people with the cheapest electric will be able to mine profitably. There are just too many people pouring into it now, difficulty is shooting up and all it will take is for the currencies to stop rising for a few months and then it will end up costing more in electricity than you can make, unless you paying 10 cents a kw or less. The current good times are definitely not normal and not expected to last.
If you have cheap electric then in the long term, you can hope to make maybe $2 or $3 a day after electric. Don't go spending up big if you think the ridiculous profitability is going to last for long. It won't!
Didn't thought about alternative crypto-currencies. I guess you're right. BTW, I have a spare Xilinx's FPGA that I can use for mining with minimal electricity cost. Do you know any firmware I can load on it to start mining alt cryptos? Where should I look for such a thing? |
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Maybe it's a newbie question, but I suddenly thought about it.
In a few years (in terms of history), about 100 years, all the 21 million bitcoins will be on the market.
then, miner will get only transaction fees for processing the blockchain and no reward.
I believe that many of the miners will find it not profitable, and will quit out.
What do you think will happen then?
Theoretically, an equilibrium will form. When the amount of BTC goes down due to the lowering block rewards, miners that can no longer make a profit with the fees alone will shut off their ASICS, this lowers the diff, the lower diff will make it easyer for the leftover miners to solve a block... So the leftover miners will solve more blocks with the same hashrate and rake in more fees (so have a bigger income while their expenses stay the same)... In the end, the network's hashrate might lower a bit, but theoretically, that shouldn't be a problem. Offcourse, how much miners will decide to turn off their equipment in the end will depend on how much fee/byte will be added on average, how big the blocks will be, and it will also depend on the bitcoin price... This equilibrium is really complicate. from one hand, when it'll happen the bitcoin price will start to rise since there will be no flow of new coins. but since there will be less miners, the fees might be higher, and really expensive to spend bitcoins. but then again, if it will make people use it less, the price will go down, and even less miners will stay on the stage. I know it will happen in more than 100 years, but I'm afraid it might be the end of this wonderful coin. |
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I understand that but my question is does mining have an end? that in some day the mining process may stop?
Of course! bitcoin has a limit of 21 million coins. that's mean that when there will be 21MBTC mined, the miner will gain only the transaction fees and no mining bonus. it is going to happen in more then 100 year though... So don't worry about it. |
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Maybe today you can mine ethereum worth of about 27$ a day,
but the difficulty will rise, and the payment will go down.
It might take months or years,
but it also could be so fast, that by the time you'll get your hardware ordered and delivered, you will gain less than half of that.
It happened to so many people in the past - There is no free money, and no investment without risk.
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Maybe it's a newbie question, but I suddenly thought about it.
In a few years (in terms of history), about 100 years, all the 21 million bitcoins will be on the market.
then, miner will get only transaction fees for processing the blockchain and no reward.
I believe that many of the miners will find it not profitable, and will quit out.
What do you think will happen then?
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If Bitcoin hits 80.9 trillion dollar this means 1 bitcoin = $38,523,809.52  This means every owner of bitcoin will be a multi-millionaire and well the transaction fee would be $30819.05 @ 0.0008 BTC transaction fee great for coin that is introduced as small to nothing transaction fee  . Well why would I care for $30k fee if I have multimillion dollar in my stash. Definitely I will change this to fiat currency since moving it to fiat currency, I can save a lot in terms of transaction fee every time I move my money. The transaction fee at those rates would kill bitcoins price before it could ever reach that high. What you don't realize is that as bitcoin has increased in value the number of people holding bitcoin has also increased but the average wallet size has shrunk. If your life savings are worth 10k USD you aren't going to have much use if it costs 30k USD to send it to someone. But if Bitcoin hits 80.9 trillion dollar, I'll need only 1 satoshi to buy milk in the grocery store, It's like coin-dust and has no transaction fee, doesn't it? And for sure, the transaction fee will go down (in matter of BTC), while Bitcoin will go up. Am I missing something? |
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snip...
Alegri needs to be fired we don't deserve just seria A and small cups, how can you commit such suicidal mistakes to allow them win the champions league. I thought we could play like we is against Barcelona but look at all this mess. Sack him!! Perhaps the best decision for Juventus is indeed bringing in a new coach to be able to make Juventus achievements in Europe, that there is no more reason for Allegri to stay at Juventus because Allegri has failed twice to get the UCL title that has been in decades later by Juventus. I also didn't like Allegri's attitude, when he said that even getting to the final is something to be proud of. Juve theme sentence is "Fino Alla Fine!" - to the end, and the end is holding the trophy. BUT, in his three years in Juve, he bringed us three Scudato and three Copa, and twice to the Champions League final. it is something to be proud of. Some changes have to be done, but the coach is not one of them. |
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Looks like the Warriors are getting their brooms ready. This Finals series is boring to be honest. KD will get his ring and the Finals MVP award for sure.
there were minutes when it looked like an interesting match, but even after leading by 6, 3 minutes to the end, they manage somehow to lost it. on the beginning I thought the series will end 4-2 Golden State, and I even invited all my friends to watch together the sixth game, but now it looks that there won't be even a fifth game. what a season... |
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The hot news for this morning:
Juventus is about to add Douglas Costa to their lines.
Costa, the 26 years old Brazilian Winger, played for Bayern Munich for the last to years.
He was purchased by Bayern from Shakhtar Donetsk for 30M€, and to current price should be similar.
The mercato is hot and full of rumors, but this transfer looks like a sure thing.
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Technology makes people reliant on the new tech around them and that is not a good thing at all. The use of technology should be regulated because I fear the future where people will become reliant on technology in everything that they need to do. For example, like doing some simple errands in house, which could be good for their health and discipline, some day robots might be invented and they will all the errands that needs to be done in the house.
Have you seen the movie Wall-E? I think that movie perfectly portrays the negative effects of technology. If you haven't seen it yet then I strongly encourage you watch asap. Thank you.
Partially i agree with you, but it does not necessarily need to happen in that way i think. Yes people are starting to get used to some new technology stuff, and that is natural. Imagine how life would be if people did not invent tractor or some other agricultural items... It would be really hard. It is same with every other technology. In worst case scenario, people are adaptable so...  I saw the negative of technology the too much use of it and too much innovations that some bad humans are trying to do to harm and to kill people .But in some there is no big negative effects of technology if we use it right and certainly in what work this technology is applicable. Yes you are right, i can not deny that. For example, if there was not for technology our medicine knowledge and capabilities would not expand so much, and people would be dying a lot more. And in some other branches of human life, if there was not for technology, life would be a lot harder. But as you said, if used properly, problem is that, that some people do not have limit on what is healthy, so they look in their phone more than they need to, and forget about person around them. I see that every day, and it worry me. We didn't get the proper education to handle with the new technology, since no-one could see that coming. but nowadays, when everybody has a little screen in his hand, we need to teach the young children how to use the technology, and how to avoid being abused by the technology. I have two children, and I don't let them use mobile phone or computer for more the one hour a day. And surprisingly, they manage to find a lot of fun things to do  It's all starts with education |
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you keep whining about how we missed the train, when bitcoin was just a few dollars, and that we could have been rich if we bought some back then.
but the bitcoin is going to reach new heights, and if you invest a couple of thousands dollars today, you might be a millionaire in a few years.
so stop complaining and fell sorry about yourself, and just buy one little bitcoin.
you'll thank me later...
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Juventus is looking for the day after Buffon
According to Sky, the Polish goalkeeper, Wojciech Szczęsny, is going to join Juventus this summer.
Since Buffon is going to stay in Juve for at least another year, Szczęsny will be on the bench instead of Neto, who is leaving.
Szczęsny, 27 years old, is playing for Roma for the last two years, after a loan from Arsenal.
The rumors say there is an agreement between the goalkeeper and Juventus regarding next season,
and now Arsenal, who demands 16M€, needs to agree.
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Again and again, the representative team from Serie A did not succeed in bringing the UCL trophy this season, whereas the Italians have missed the trophy badly, with Juventus and Allegri having a second failure to dominate European football.
It's really sucks! I had a really good feeling about this game, and I put almost half of my bitcoins on Juve to win. Now I need to work hard to build up my balance again. But more than I sorry for my coins I feel sorry for Buffon, he had such a wonderful season and he deserved to win the title and maybe also the golden-ball. well, maybe next year... i think Juventus underestimated how powerful Real Madrid midfield is. The likes of kroos, modric and isco with Casemiro at the back You can't beat that lineup with khedira, pjanic and dybala at yiur midfield as we have seen that they were outnumbered in the middle, also the ones outnumbering them were quality individuals. Khedira is not a footballer that u can rely on against those type of players he was once had some value with his running but not anymore. He can't move his body while Dybala is no midfielder whilst pjanic who has made some good runs this season but he just had to experience playing against a higher level players like modric. Allegri did not fo anything new as he followed the tactics that Conte left behind to a and he didn't bring anything new to the table he should played Marchisio instead Khedira and mzybe try to play 4-2-3-1 and he may got a better chance. I agree with every word. everytime I see Khedira in the starting lineup I hold my head. Marchisio is a better choice, both for football quality and moral reasons. I do like the defense form of 3 CBs and 2 wingers, but maybe it's time for new blood. with average age of 33 for defence players it will be hard to keep up the pace of young attackers. |
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Again and again, the representative team from Serie A did not succeed in bringing the UCL trophy this season, whereas the Italians have missed the trophy badly, with Juventus and Allegri having a second failure to dominate European football.
It's really sucks! I had a really good feeling about this game, and I put almost half of my bitcoins on Juve to win. Now I need to work hard to build up my balance again. But more than I sorry for my coins I feel sorry for Buffon, he had such a wonderful season and he deserved to win the title and maybe also the golden-ball. well, maybe next year... |
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Hi,
I'll be happy to join your campaign.
Good luck!
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Outcome: Penguins
Spread: 2
Total: 4
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Hi, I would like to join your campaign.
Signature had been changed.
Username: sir.humus
Post Count: 719
BTC Address: 16ahoC27zT2M71Dc2FT4rBTfufzNDnTSZt
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I like the idea of constructing a new cryptocurrency system based on old and wise rules.
Rules that suppose to make justice between people, but unfortunately get exploited sometimes by the strong people.
Maybe this project will make it better, since it's all hard-coded in our computers and can't be controlled by one man.
Good luck!
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Real Madrid 85 v 89 CSKA Moscow
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