SPECJEDI (OP)
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Activity: 16
Merit: 0
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September 05, 2015, 11:32:25 PM |
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Hey everyone, I'm a little confused on this subject. Bitcoins are limited and about half or a little bit more have been found already. I'm confused on the part when all bitcoins have been found what happens next? Will there still be a way to profit bitcoins by mining? Or is there something I'm not getting right? Let me know, Thanks guys.
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GermanGiant
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September 06, 2015, 12:31:14 AM |
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Bitcoins are not found. Blocks are found by miners. And when a miner finds a block, he gets rewarded in two way... a. Block reward, which is 25 BTC now and will be 12.5 BTC by middle of 2016 b. Collection from Tx fee
As Tx vloume increases with increased adoption, Tx fee is supposed to compensate miners for lowering subsidy. Alternatively, if FIAT value of bitcoin goes up, that would compensate miners as well. Hence decreasing block reward wont affect mining activity. Hence, your Tx will always be confirmed and bitcoin will always prevail.
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TheRealSteve
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September 06, 2015, 01:06:05 AM |
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In your choice of search engine, type: what happens after all bitcoin Then read a few dozen answers to this question ranging from the technically detailed to the economically 'insightful' to the explain-like-I'm-5. No need to have a few dozen + 1.
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philipma1957
Legendary
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Activity: 4102
Merit: 7763
'The right to privacy matters'
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September 06, 2015, 03:28:22 AM |
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Hey everyone, I'm a little confused on this subject. Bitcoins are limited and about half or a little bit more have been found already. I'm confused on the part when all bitcoins have been found what happens next? Will there still be a way to profit bitcoins by mining? Or is there something I'm not getting right? Let me know, Thanks guys.
you will most likely be dead. why worry? the reason i wrote this is every 2-3 years blocks 1/2 so 50 two 1/2 years 25 two 1/2 years 12.5 two 1/2 years so five years in 6.75 two 1/2 years 3.375 two 1/2 years ten years in i think we last into 2105 or more i will not be around and most others will be gone. why worry?
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Tupsu
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Activity: 1218
Merit: 1003
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September 06, 2015, 09:23:09 AM Last edit: September 06, 2015, 09:41:17 AM by Tupsu |
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Hey everyone, I'm a little confused on this subject. Bitcoins are limited and about half or a little bit more have been found already. I'm confused on the part when all bitcoins have been found what happens next? Will there still be a way to profit bitcoins by mining? Or is there something I'm not getting right? Let me know, Thanks guys.
you will most likely be dead. why worry? the reason i wrote this is every 2-3 years blocks 1/2 so 50 two 1/2 years 25 two 1/2 years 12.5 two 1/2 years so five years in 6.75 two 1/2 years 3.375 two 1/2 years ten years in i think we last into 2105 or more i will not be around and most others will be gone. why worry? Is this a joke ? https://en.bitcoin.it/wiki/Controlled_supply
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edric
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September 06, 2015, 06:46:59 PM |
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What about the halving coming up? How is that going to affect the profitability of mining?
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unholycactus
Legendary
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Activity: 1078
Merit: 1023
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September 06, 2015, 06:54:38 PM |
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What about the halving coming up? How is that going to affect the profitability of mining?
It's something everyone can see coming, meaning rational people will adapt slowly before it hits. Price may rise, difficultly might go down, more efficient/cheaper hardware is being developed.
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edric
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September 06, 2015, 06:56:49 PM |
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What about the halving coming up? How is that going to affect the profitability of mining?
It's something everyone can see coming, meaning rational people will adapt slowly before it hits. Price may rise, difficultly might go down, more efficient/cheaper hardware is being developed. So is it a bad time to buy old hardware? Do you think the value of S3's for example are about to plummet?
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Dalkore
Legendary
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Activity: 1330
Merit: 1026
Mining since 2010 & Hosting since 2012
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September 06, 2015, 08:40:35 PM |
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Hey everyone, I'm a little confused on this subject. Bitcoins are limited and about half or a little bit more have been found already. I'm confused on the part when all bitcoins have been found what happens next? Will there still be a way to profit bitcoins by mining? Or is there something I'm not getting right? Let me know, Thanks guys.
you will most likely be dead. why worry? the reason i wrote this is every 2-3 years blocks 1/2 so 50 two 1/2 years 25 two 1/2 years 12.5 two 1/2 years so five years in 6.75 two 1/2 years 3.375 two 1/2 years ten years in i think we last into 2105 or more i will not be around and most others will be gone. why worry? Is this a joke ? https://en.bitcoin.it/wiki/Controlled_supplyThis is not a joke, but a valuable feature of Bitcoin.
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unholycactus
Legendary
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Activity: 1078
Merit: 1023
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September 06, 2015, 10:58:10 PM |
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What about the halving coming up? How is that going to affect the profitability of mining?
It's something everyone can see coming, meaning rational people will adapt slowly before it hits. Price may rise, difficultly might go down, more efficient/cheaper hardware is being developed. So is it a bad time to buy old hardware? Do you think the value of S3's for example are about to plummet? S3's are getting very old. If your electricity is free or very cheap, anything can be good though. I still mine with my S1.
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edric
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September 07, 2015, 01:50:12 AM |
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What about the halving coming up? How is that going to affect the profitability of mining?
It's something everyone can see coming, meaning rational people will adapt slowly before it hits. Price may rise, difficultly might go down, more efficient/cheaper hardware is being developed. So is it a bad time to buy old hardware? Do you think the value of S3's for example are about to plummet? S3's are getting very old. If your electricity is free or very cheap, anything can be good though. I still mine with my S1. Thanks, do you think if I buy some used S3s right now they will last for another year or two? Will they still be worth anything?
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unholycactus
Legendary
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Activity: 1078
Merit: 1023
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September 07, 2015, 02:29:29 AM |
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What about the halving coming up? How is that going to affect the profitability of mining?
It's something everyone can see coming, meaning rational people will adapt slowly before it hits. Price may rise, difficultly might go down, more efficient/cheaper hardware is being developed. So is it a bad time to buy old hardware? Do you think the value of S3's for example are about to plummet? S3's are getting very old. If your electricity is free or very cheap, anything can be good though. I still mine with my S1. Thanks, do you think if I buy some used S3s right now they will last for another year or two? Will they still be worth anything? Nobody can tell for sure, mining difficulty is speculative. The problem with miners like S3s and S1s is that it's really hard to absorb the shipping cost when it's time to resell. I definitely wouldn't go over a year for a S3.
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