Bitcoin Forum
June 20, 2024, 04:12:49 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Warning: One or more bitcointalk.org users have reported that they strongly believe that the creator of this topic is a scammer. (Login to see the detailed trust ratings.) While the bitcointalk.org administration does not verify such claims, you should proceed with extreme caution.
Pages: [1]
  Print  
Author Topic: General Help For Bitcoin mining Please Help ASAP  (Read 465 times)
sumair7230 (OP)
Full Member
***
Offline Offline

Activity: 168
Merit: 100


View Profile WWW
November 16, 2017, 10:20:06 AM
 #1

 if mining is responsible for every transaction; what if it reaches the maximum amount of supply, how will the miners get paid?

http://Coinsteacher.com a simple blog for simple readers .
os2sam
Legendary
*
Offline Offline

Activity: 3578
Merit: 1091


Think for yourself


View Profile
November 16, 2017, 10:30:14 AM
 #2

if mining is responsible for every transaction; what if it reaches the maximum amount of supply, how will the miners get paid?


Miners will get paid by transaction fees once all coins have been mined.

https://bitcoin.org/bitcoin.pdf

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
sumair7230 (OP)
Full Member
***
Offline Offline

Activity: 168
Merit: 100


View Profile WWW
November 16, 2017, 10:47:46 AM
 #3

if mining is responsible for every transaction; what if it reaches the maximum amount of supply, how will the miners get paid?


Miners will get paid by transaction fees once all coins have been mined.

https://bitcoin.org/bitcoin.pdf

isn't there 21 millions coins only to be mined and if there are no transactions my mining rig will not work?

http://Coinsteacher.com a simple blog for simple readers .
os2sam
Legendary
*
Offline Offline

Activity: 3578
Merit: 1091


Think for yourself


View Profile
November 16, 2017, 11:06:14 AM
 #4

if mining is responsible for every transaction; what if it reaches the maximum amount of supply, how will the miners get paid?


Miners will get paid by transaction fees once all coins have been mined.

https://bitcoin.org/bitcoin.pdf

isn't there 21 millions coins only to be mined and if there are no transactions my mining rig will not work?


Why would there be no transactions?  Transaction fees this past week or so have equaled the block reward.

Besides it will take something like 100 years for the block reward to halve into nothing.  By then I'm sure your mining rig will be retired.  Read the bitcoin.pdf.

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
sumair7230 (OP)
Full Member
***
Offline Offline

Activity: 168
Merit: 100


View Profile WWW
November 16, 2017, 11:47:42 AM
 #5

if mining is responsible for every transaction; what if it reaches the maximum amount of supply, how will the miners get paid?


Miners will get paid by transaction fees once all coins have been mined.

https://bitcoin.org/bitcoin.pdf

isn't there 21 millions coins only to be mined and if there are no transactions my mining rig will not work?


Why would there be no transactions?  Transaction fees this past week or so have equaled the block reward.

Besides it will take something like 100 years for the block reward to halve into nothing.  By then I'm sure your mining rig will be retired.  Read the bitcoin.pdf.

only 21 million bitcoins to be mined okay ? what will happen when miner had mined 21 million bitcoins or there is nothing like my 21 million bitcoins to mined theory?

http://Coinsteacher.com a simple blog for simple readers .
os2sam
Legendary
*
Offline Offline

Activity: 3578
Merit: 1091


Think for yourself


View Profile
November 16, 2017, 12:26:55 PM
 #6

only 21 million bitcoins to be mined okay ? what will happen when miner had mined 21 million bitcoins or there is nothing like my 21 million bitcoins to mined theory?

In about 100 years when all Bitcoins have been mined, the miners will mine for the Transaction fees, as I already told you.

This past week Transaction fees have approached the amount of the block reward.  100 years in the future the fees will only be a higher amount.

I have answered your question multiple time, ASAP!!  So you don't need to worry about for 90 to 100 years.  Study how Bitcoin works and these very basic questions get answered.  This is explained in the bitcoin.pdf that I gave you a link for.

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
xIIImaL
Legendary
*
Offline Offline

Activity: 1372
Merit: 1005


View Profile
November 17, 2017, 08:54:04 AM
 #7

if mining is responsible for every transaction; what if it reaches the maximum amount of supply, how will the miners get paid?


If the mining networks are busy you may find the delay in the transaction for sure. Most of wallet provider will give the notification before you transact the fund from one wallet to another or in the time of log in itself.
Benefit for the miner will be a fees amount you have added to transaction when the amount has been transferred.
sumair7230 (OP)
Full Member
***
Offline Offline

Activity: 168
Merit: 100


View Profile WWW
November 18, 2017, 10:38:14 AM
 #8

only 21 million bitcoins to be mined okay ? what will happen when miner had mined 21 million bitcoins or there is nothing like my 21 million bitcoins to mined theory?

In about 100 years when all Bitcoins have been mined, the miners will mine for the Transaction fees, as I already told you.

This past week Transaction fees have approached the amount of the block reward.  100 years in the future the fees will only be a higher amount.

I have answered your question multiple time, ASAP!!  So you don't need to worry about for 90 to 100 years.  Study how Bitcoin works and these very basic questions get answered.  This is explained in the bitcoin.pdf that I gave you a link for.

Thank u so much

http://Coinsteacher.com a simple blog for simple readers .
flamengo10
Newbie
*
Offline Offline

Activity: 35
Merit: 0


View Profile
November 19, 2017, 12:22:15 PM
 #9

only 21 million bitcoins to be mined
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!