mrflibblehat
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★YoBit.Net★ 350+ Coins Exchange & Dice
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February 08, 2016, 04:51:34 PM |
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If there is no more coins OR gold to mine then I guess they'll just change and become traders like the rest.
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aleandromagno
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Activity: 1323
Merit: 1000
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February 08, 2016, 05:11:31 PM |
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So I was watching videos on youtube and I came accross to a video regarding the facts about bitcoin. I saw there that every halving the reward block is halve right? And so the rewards that the miner will get will decreased. My question is what will happen to the miners if there will be no more coins to mine? Since there is only a limit on how many bitcoins can be produced, a time will come that mining will put on stop. What will happen to the bitcoin price if then?
When the last coin will be mined, it will be a great moment for all of us! For miners less.. Miners will earn only from transactions fees. Price, with an increasingly popularity will be growing all the time - in the name of the law of supply and demand.
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vrm86
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February 08, 2016, 07:28:06 PM |
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So I was watching videos on youtube and I came accross to a video regarding the facts about bitcoin. I saw there that every halving the reward block is halve right? And so the rewards that the miner will get will decreased. My question is what will happen to the miners if there will be no more coins to mine? Since there is only a limit on how many bitcoins can be produced, a time will come that mining will put on stop. What will happen to the bitcoin price if then?
When the last coin will be mined, it will be a great moment for all of us! For miners less.. Miners will earn only from transactions fees. Price, with an increasingly popularity will be growing all the time - in the name of the law of supply and demand. But beyond the speculation factors, what would be the reason to buying BTC if price will go higher and higher? Every price bubble has its limits.
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kpitti
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Activity: 924
Merit: 1002
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February 08, 2016, 07:35:50 PM |
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So I was watching videos on youtube and I came accross to a video regarding the facts about bitcoin. I saw there that every halving the reward block is halve right? And so the rewards that the miner will get will decreased. My question is what will happen to the miners if there will be no more coins to mine? Since there is only a limit on how many bitcoins can be produced, a time will come that mining will put on stop. What will happen to the bitcoin price if then?
When the last coin will be mined, it will be a great moment for all of us! For miners less.. Miners will earn only from transactions fees. Price, with an increasingly popularity will be growing all the time - in the name of the law of supply and demand. Do you realized that without miners there will be not confirmed transaction? Which means Bitcoin needs Miners and mining is a part of Bitcoin. Rewards for miners will be paid by transaction fee completely.
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Mozdalifa17
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February 08, 2016, 07:39:22 PM |
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Some coin still profitable to mine and ETH is a good example for that check it out
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dothebeats
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February 08, 2016, 07:44:47 PM |
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If there are no more coins to mine, bitcoin would still survive only if prices are high and there are still miners that process transactions. Miners can still profit from fees, though. That is the only incentive they will get once there are no more coins to mine.
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aleandromagno
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Activity: 1323
Merit: 1000
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February 08, 2016, 07:54:59 PM |
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So I was watching videos on youtube and I came accross to a video regarding the facts about bitcoin. I saw there that every halving the reward block is halve right? And so the rewards that the miner will get will decreased. My question is what will happen to the miners if there will be no more coins to mine? Since there is only a limit on how many bitcoins can be produced, a time will come that mining will put on stop. What will happen to the bitcoin price if then?
When the last coin will be mined, it will be a great moment for all of us! For miners less.. Miners will earn only from transactions fees. Price, with an increasingly popularity will be growing all the time - in the name of the law of supply and demand. Do you realized that without miners there will be not confirmed transaction? Which means Bitcoin needs Miners and mining is a part of Bitcoin. Rewards for miners will be paid by transaction fee completely. I'm not sure from which part of my post you understand that after last mined coin we don't need miners? It seems that you wrote the same thing as I, only in other words .. or you didn't read what I wrote!?
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. ..1xBit.com Super Six.. | ▄█████████████▄ ████████████▀▀▀ █████████████▄ █████████▌▀████ ██████████ ▀██ ██████████▌ ▀ ████████████▄▄ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ▀██████████████ | ███████████████ █████████████▀ █████▀▀ ███▀ ▄███ ▄ ██▄▄████▌ ▄█ ████████ ████████▌ █████████ ▐█ ██████████ ▐█ ███████▀▀ ▄██ ███▀ ▄▄▄█████ ███ ▄██████████ ███████████████ | ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ███████████▀▀▀█ ██████████ ███████████▄▄▄█ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ | ▄█████ ▄██████ ▄███████ ▄████████ ▄█████████ ▄██████████ ▄███████████ ▄████████████ ▄█████████████ ▄██████████████ ▀▀███████████ ▀▀███████ ▀▀██▀ | ▄▄██▌ ▄▄███████ █████████▀ ▄██▄▄▀▀██▀▀ ▄██████ ▄▄▄ ███████ ▄█▄ ▄ ▀██████ █ ▀█ ▀▀▀ ▄ ▀▄▄█▀ ▄▄█████▄ ▀▀▀ ▀████████ ▀█████▀ ████ ▀▀▀ █████ █████ | ▄ █▄▄ █ ▄ ▀▄██▀▀▀▀▀▀▀▀ ▀ ▄▄█████▄█▄▄ ▄ ▄███▀ ▀▀ ▀▀▄ ▄██▄███▄ ▀▀▀▀▄ ▄▄ ▄████████▄▄▄▄▄█▄▄▄██ ████████████▀▀ █ ▐█ ██████████████▄ ▄▄▀██▄██ ▐██████████████ ▄███ ████▀████████████▄███▀ ▀█▀ ▐█████████████▀ ▐████████████▀ ▀█████▀▀▀ █▀ | . Premier League LaLiga Serie A | . Bundesliga Ligue 1 Primeira Liga | | . ..TAKE PART.. |
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Wapinter
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Hire me for Bounty Management
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February 08, 2016, 08:16:21 PM |
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If there are no more coins to mine, bitcoin would still survive only if prices are high and there are still miners that process transactions. Miners can still profit from fees, though. That is the only incentive they will get once there are no more coins to mine.
We should not forget that in future we may have better cost effective hardwares for mining and cheap electricity.If that happens,mining will still be profitable low fee even if bitcoin price is around 500$-1000 $
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funkenstein
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Khazad ai-menu!
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February 09, 2016, 01:09:27 AM |
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This question's answer is basically the same as the answer to "What is there is no more gold to mine?". Well the currency supply stabilises and if the user base continues to grow, that would mean there is deflation instead of inflation!
Not really. Transaction security using gold has nothing to do with miners. Transaction security using bitcoin has everything to do with miners.
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funkenstein
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Khazad ai-menu!
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February 09, 2016, 01:11:19 AM |
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If there are no more coins to mine, bitcoin would still survive only if prices are high and there are still miners that process transactions. Miners can still profit from fees, though. That is the only incentive they will get once there are no more coins to mine.
We should not forget that in future we may have better cost effective hardwares for mining and cheap electricity.If that happens,mining will still be profitable low fee even if bitcoin price is around 500$-1000 $ Hardwares changes nothing except who has access to them and thus who is getting the miner rewards. Difficulty adjustments factor out hardware differences.
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Amph
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February 09, 2016, 08:54:35 AM |
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This question's answer is basically the same as the answer to "What is there is no more gold to mine?". Well the currency supply stabilises and if the user base continues to grow, that would mean there is deflation instead of inflation!
Not really. Transaction security using gold has nothing to do with miners. Transaction security using bitcoin has everything to do with miners. what security have to do with the deflation aspect of bitcoin, when the supply do not put more pressure on the market? miners will have their regular profit via fee, that what they need to sustain the nertwork, and deflation will help this greatly, because the value will skyrocket with a greater demand and less dumping from mining
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