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dgross0818
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July 11, 2018, 08:41:52 PM |
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I think mining will not stop. I believe in bitcoin. The question is very good. If stop mining , blockchain technology must first be closed. But it will never happen. Every time the investor is increasing. There are a lot of transactions per second in bitcoin. It will not be traded after it is closed. So mining will never stop.
Mining will exist until it brings a profit to mining pools. Everybody knows, the prices make pools work at a loss. If the price of Bitcoin will fall below $5000, its mining will be unprofitable even for large companies, and the network may stop. Dig a bit in the news and discussions, we have a special thread devoted to mining, and you'll see that everything is not so pleasant. |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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sserge009
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July 11, 2018, 08:59:20 PM |
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Mining can not stop because it processes transactions. In the scenario with depreciation of crypto assets I do not believe, because there is no reason for this. So mining will live forever
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Ayohafees
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July 11, 2018, 09:09:36 PM |
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In crypto, supply is very important when discussing about currency distribution. The difficulty in mining blocks and reward of each block mined have a percentage and limit....mining continues until all the reward for mining has finished, this is particular to coins with there own platform.
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AlisaWhishie
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July 11, 2018, 09:15:41 PM |
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Personally I hope that it will stop as soon as possible, as it is not eco-friendly, consuming so much electricity. This should be the main question, not profitability, as PoS would also give you the same profit, but it won't require you to spend so much energy. I know that PoS isn't a perfect solution, but when we talk about energy, it's way better than PoW mining.
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zero4five
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July 11, 2018, 09:23:26 PM |
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At one point, when the number of coins approaches the set maximum, the calculated hash will simply stop receiving a reward. But the hashes themselves should still be calculated, otherwise the transactions will not be confirmed and users, respectively, will not be able to use the crypto currency - transfer it and pay it off.
In other words, while there are requests for transactions, the need for mining and miners will not disappear: without them, the network is inoperable.
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aeternus
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July 12, 2018, 03:27:28 AM |
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Mining will never stop because it is used to keep cryptocurrencies decentralized and to confirm transactions. The coins for mining and the way how to do it may be changed, also future global virtual machine will need computer power of miners.
People forget that bitcoin is not the only coin you can mine if you want to take some risks you can mine some altcoins with the hope the coin goes up in value in the future, if you do it your profits as a miner are going to be way better than the profits you could get as a bitcoin miner, and if you have some old mining hardware you can use it to mine new altcoins since the competition is low on those coins. |
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tuannguyenn110
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July 12, 2018, 12:45:35 PM |
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I think mining will never be stopped since it’s the way also crypto-companies can attract more people to gain their token popularity. But mostly, only coins and tokens with large total supply of about billion is capable of mining.
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vual
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July 13, 2018, 06:37:45 AM |
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Absolutely no it won't cease simply because it's the center of each and every dealings within the cryptocurrency system. When the way to obtain a particular gold coin, let's imagine bitcoin or even eth, had been just about all mined after those miners may enjoy the deal costs compensated through everybody. This is often an indication associated with improve within deal costs of the particular gold coin later on because of miners obtaining their own earnings just in the deal and never the actual benefits these people obtain through exploration obstructs. I really hope it does not improve much exactly where it's not the actual lucrative any longer.
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bbbbbvm
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July 13, 2018, 06:45:15 AM |
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Mining will not stop forever, there will be different coins to be obtained through mining, as long as the cryptocurrency does not die, I think mining will never stop. There will be more altcoins appearing.
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siggy
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July 13, 2018, 07:00:53 AM |
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I think that Proof-Of-Stake can become more popular than Proof-of-work and more and more cryptocurrencies will begin to use this protocol.
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kenborbs
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Merit: 1
The revolutionary AI gaming ecosystem
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July 13, 2018, 05:52:45 PM |
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I don't think that mining will gonna stop, as long as there is a blockchain transaction there will always be a mining because it helps the entire blockchain with regards to do transaction on any cryptocurrency and it is also a platform of investment to acquire any coins from the market in exchange with workload by its hardware or GPU.
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Edmort
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July 13, 2018, 06:23:55 PM |
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I believe that, like all things, mining will end. But not now and not in the near future. The popularity of crypto currency is growing and growing, so you need to use it while you have the opportunity.
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qomariah95
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July 13, 2018, 06:38:23 PM |
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If it still can be done I think the miners will continue to work in their field because they would be very comfortable with mining because they also have a tool that is very extraordinary of course they will continue if still can. And when it can no longer be sure they stop.
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rainezerr401
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July 13, 2018, 07:07:06 PM |
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Hello people, i'm new in the crypto worlds , i have two questions please i need logic answers . 1 - will mining will ever stop  ? 2 - what will happens when the cryptocurrency reaches it limits ( example : bitcoin 21M , ETH .... , and other curriencies ) ? will they win money after the currencies reaches its limits ? thank you ! Mining will never stop because people is continuously trading in the market and block chain is required in order for the different transactions to be send to its destinations. |
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vasilvas15
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July 13, 2018, 07:43:46 PM |
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While there are crypto-currencies, their mining will go, it's obvious. After all, this is how the process of computing and processing transactions of these crypto-currencies occurs.
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autocurently
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July 13, 2018, 07:48:42 PM |
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Bitcoin mining will obviously outlive us, and will not stop soon .
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dylanmeter
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July 14, 2018, 02:50:10 AM
Last edit: July 14, 2018, 06:37:32 PM by dylanmeter |
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Hello people, i'm new in the crypto worlds , i have two questions please i need logic answers . 1 - will mining will ever stop ? 2 - what will happens when the cryptocurrency reaches it limits ( example : bitcoin 21M , ETH .... , and other curriencies ) ? will they win money after the currencies reaches its limits ? thank you ! Mining is a vital process in the existence of Cryptocurrency. without Mining Crypto won't exist. In other words, , mining validates cryptocurrency transactions and also releases new currency. |
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a4illusionist
Jr. Member
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July 14, 2018, 03:04:22 AM |
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Mining will never stop. That is because the coins will never stop coming. More and more projects will get inducted in the market and they will keep coming up with new projects. So once a coin will reach at its end, there will be more coins to mine of some other projects. So don't worry and don't sell your machines. Keep mining.
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thaokhuyen05
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July 14, 2018, 03:12:35 AM |
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sure. If there are no peachers, then someone will confirm the transaction. An indispensable logic. A coin must always have a place to confirm transactions as well as an internet must have a server system
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rose9696
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https://streamies.io/
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July 14, 2018, 03:17:22 AM |
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Hello people, i'm new in the crypto worlds , i have two questions please i need logic answers . 1 - will mining will ever stop ? 2 - what will happens when the cryptocurrency reaches it limits ( example : bitcoin 21M , ETH .... , and other curriencies ) ? will they win money after the currencies reaches its limits ? thank you ! The exploit will end when it is no longer profitable. Currently there are many altcoin that can make a profit for the miners. They have many options and Bitcoin is not the only choice. When Bitcoin reaches the limit, it means Bitcoin will remain the same. It will not make any changes because Bitcoin only moves from one person to another and it can not disappear. |
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