Bitcoin Forum
December 04, 2016, 08:15:37 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: What will happen when all of the blocks have been generated?  (Read 1064 times)
JesusTheCaffeine
Jr. Member
*
Offline Offline

Activity: 35


View Profile
March 05, 2011, 04:33:04 PM
 #1

In my understanding to confirm a transaction, it must go into the next block. Whenever we run out of blocks, how will we confirm transactions?
1480839337
Hero Member
*
Offline Offline

Posts: 1480839337

View Profile Personal Message (Offline)

Ignore
1480839337
Reply with quote  #2

1480839337
Report to moderator
"You Asked For Change, We Gave You Coins" -- casascius
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480839337
Hero Member
*
Offline Offline

Posts: 1480839337

View Profile Personal Message (Offline)

Ignore
1480839337
Reply with quote  #2

1480839337
Report to moderator
Garrett Burgwardt
Sr. Member
****
Offline Offline

Activity: 350



View Profile
March 05, 2011, 04:37:48 PM
 #2

We'll never run out of blocks.

The reward for generating a block, however, will drop to 0 in a very long time. By then, transaction fees are a good enough incentive for the miners.
Only-One Bit Coiner
Jr. Member
*
Offline Offline

Activity: 42



View Profile
March 05, 2011, 06:16:49 PM
 #3

transaction fees are a good enough incentive for the miners

Does that mean transaction costs will become 25 BTC after drop of block profit from 50 to 25 ?
kiba
Legendary
*
Offline Offline

Activity: 980


View Profile
March 05, 2011, 06:17:43 PM
 #4

transaction fees are a good enough incentive for the miners

Does that mean transaction costs will become 25 BTC after drop of block profit from 50 to 25 ?


No.

theymos
Administrator
Legendary
*
Offline Offline

Activity: 2492


View Profile
March 05, 2011, 06:22:28 PM
 #5

Does that mean transaction costs will become 25 BTC after drop of block profit from 50 to 25 ?

There are many transactions per block, so the fee per transaction can be low. The total block reward might also be reduced from 50 BTC, in which case the total computational power of the network will likely decrease.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
stakhanov
Full Member
***
Offline Offline

Activity: 175


View Profile
March 05, 2011, 06:22:51 PM
 #6

transaction fees are a good enough incentive for the miners

Does that mean transaction costs will become 25 BTC after drop of block profit from 50 to 25 ?


I think they will probably still be very close to zero, because by then, if bitcoins are still around, 25BTC will be worth much more than 50 today, and we don't lack miners Smiley
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!