Is mining coming to an end?

[Crypto-watch-Talk]

Hey everyone,

So I know there are still coins getting made that can be mined but compared to how it used to be and how many tokens get made instead of actual blockchain cryptocurrencies that can be mined.

Could it get to the point where mining actual Cryptocurrencies comes to an end?

[tsaroz]

It should.
We need to use as less energy as possible while making our transactions.
Energy is costly and energy hungry process of confirming a transaction by mining is getting more industrialized that also undermines the decentralized nature of crypto currencies. 

[Don Stefanello]

It might be comming to an end, but that end is not that near to be feared right now, as the person above said, it could be a good thing on the other hand with spending less energy

[yo_mama]

Likely.
Now every single minable coin (and non-minable) is overpriced. Total hash power is insanely high, most coins' mining difficulties are ridiculously high, all GPUs sold out etc. And still more people are joining the world of mining. This growth isn't sustainable.
If this trend keeps unchanged...
Within a year or two, mining difficulty of every minable coin will be so high, and all mining hardware will be so overpriced, that it's not profitable anymore for anyone to mine, without first investing at least several $10k in hardware.
And if the crypto bubble then bursts, most coins crash some 80%-90%, even the biggest miners will lose money mining, just like bitcoin mining back in 2014.

So yeah, mining will be dead probably by 2020.

At that time expect the craziest GPU dumping sell in history. Be prepared to buy some nice used GPU cheap!

[01BTC]

I'm not sure how do u see that ending while mining is the core of what decentralized means, so the servers & rigs need to be up and running.

I see that in the close future maybe a new coin will be able to do that wich will probably revolutionize the process ... even so the mining atm is also an industry ..

[Mister.Satan]

Hey everyone,

So I know there are still coins getting made that can be mined but compared to how it used to be and how many tokens get made instead of actual blockchain cryptocurrencies that can be mined.

Could it get to the point where mining actual Cryptocurrencies comes to an end?

It could but right now, still have a very long way to go.

[zabisux]

I think its bit 2014 thingy, ya know. Mining consumes too much electricity, some people use it as argument to "wealth creation" but I don't buy it. We don't really need proof of work. We just need fast working trust network. Pos is good enough.

[Osaid1]

Still, a Really long way to go (there are still many other mineable alt coins which can take-over), keep mining until it lasts.  

[TopTort777]

Mining algoritms becomes more different. I think it will come to an end soon. People dont eant to mine, the just sant x2-x10 their investments and quick

[JoshMart]

I think it may or may not come to an end. Looking back, before we only had BTC but now there are other currencies that were "derived" from it. As long as there are miners, the possibilities of new crypto currencies may seem boundless. That's why it may not end. Why it will end? When miners actually stop, I guess.

[setifien19]

It's according to the coin which is being mined ; if it's a promising alt , then miners won't leave it & continue working on even though it consumes a considerable energy amount and vice versa, if it doesn't worth it, automatically miners would stop mining it .

[mpufatzis]

The decentralized cryptocurrencies need to be mined in order to get them. This how they are made.
Without mining, the transactions cannot be confirmed, and we have nothing.
We can't change that, at least to the current existing crypto coins.
In order to stop it, another new coin has to be issued having that will be produced in another way.
Or if we want eco-friendly coins, we can accept centralized coins and give the profits to their creators.

[antchains]

This should have been the case, but as long as new coins appear, the mining situation will exist and people will always expect that they own more coins, so the waste of such resources will still exist.

[vv181]

That's unlikely to happen. We know every year the mining enthusiasm is getting bigger and the power of wattage require for it is getting bigger, and indirectly the CO2 emitted is large, Well, we know nowadays the miners is utilizing the green energy like the hydro plant and etc, but I believe it still bad for the efficiency.

And if we look at a bigger picture, miners are required a graphics card to be used, which is the graphics card company will be profitable. I believe in case the miners lose a popularity the graphics card companies will pressure the community and will offer a better altcoins alternatives.

[Panteleymon]

In the future for large and old coins it will be meaningless to mine for private traders. Large Chinese shops producing coins will still make a profit, but not the same as before. The time of major currency mining is passing. This is a worldwide practice for any things. When large corporations enter the scale production of a particular product, small or private enterprises can not compete with such a product. And of course close. And if we add to this the artificial limitation in the speed of mining, then for small players there is no room at all. So it's too late to connect to the majoring of a large currency, but it is possible to switch to new and promising ones.

[batang_bitcoin]

Could it get to the point where mining actual Cryptocurrencies comes to an end?

No, there will be no end for mining. Remember on how transactions are being processed with bitcoin? It needs to be confirmed with miners so I don't think that there will be an end to the miners or there will be time that we don't need miners anymore.

We need to use as less energy as possible while making our transactions.
Energy is costly and energy hungry process of confirming a transaction by mining is getting more industrialized that also undermines the decentralized nature of crypto currencies.  

This is the disadvantage of mining, not unless there will be a change for those coins that needs confirmation through mining.

[Sevarchik]

Mining the heart of cryptocurrency, it never be end.
Maybe in the future we seen more efficiency methods of mining , but today best is POW

[natsu01]

I dont think that mining will come to an end because there are bitcoins and altcoins that are still available to mine and mining is one of the basic strategies of how to earn money in crypto.

[hendra12]

i don't know, but i think i cant be end, supply of mining should always provided. if they stop of supply maybe bitcoin going be end and cant getting high anymore because nobody can buy it.

[nioctiB#1]

Hey everyone,

So I know there are still coins getting made that can be mined but compared to how it used to be and how many tokens get made instead of actual blockchain cryptocurrencies that can be mined.

Could it get to the point where mining actual Cryptocurrencies comes to an end?

There is only one way that cryptocurrency mining will end. if all people around the world will stop using or lost their interest in mining or using cryptocurrency. if all existing cryptocurrency right now become not profitable anymore, im sure that there will be another new coin that will still be profitable to mine so this will not stop mining. if countries ban cryptocurrency mining. i doubt that they cant do that.