Dimon8 (OP)
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December 04, 2018, 10:11:46 AM |
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Hello community. How will the market react to the fact that bitcoin mining is stopped and all BTC are mined? Share opinions.
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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dothebeats
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Cashback 15%
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December 04, 2018, 10:27:51 AM |
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If I understand, this means that all 21 million bitcoins are mined? Mining wouldn't stop by then as the network still needs to have the transactions confirmed, and no one will processes those transactions if miners and their machines aren't present. They can still get something out of mining by the tx fee, and in theory, the value of 1 bitcoin will be so high that the fees per block would be sufficient as an incentive for the miners to keep on hashing.
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BitHodler
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December 04, 2018, 01:12:08 PM |
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By the time we're even remotely close to have mined the last couple of Satoshis, we're dealing with different (far more cost efficient) hardware and mining farms owning their own power plants. In the long run, we might even see Bitcoin turn into a POS coin in the worst case scenario. Possibilities are wide open and no one right now knows what the exact outcome at that point will be. If you're forced to act, you'll do everything needed to make sure your incentives are well protected. I'm glad we don't have to think about it much right now, because we have other things to focus on. |
BSV is not the real Bcash. Bcash is the real Bcash.
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BrewMaster
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There is trouble abrewing
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December 04, 2018, 03:34:11 PM |
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instead of worrying so much about what might or might not happen after 100+ years where you won't even be alive anymore, you need to worry about right now and the things that you are currently missing such as being on the ground floor of this revolutionary and unique currency!
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There is a FOMO brewing...
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Wilhelm
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December 04, 2018, 03:41:46 PM |
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Bitcoins will be earned by doing transactions. Also Bitcoin adapts to the hashrate so it might take some time for bitcoin to stabilize into a fee based system.
Other than that Bitcoin can always hard or soft fork to fix issues if they would arise. I don't see it ending in fire and fury.
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Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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shield132
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December 04, 2018, 03:56:27 PM |
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Hello community. How will the market react to the fact that bitcoin mining is stopped and all BTC are mined? Share opinions.
Personally I have a lot of questions on what will happen when 21 million bitcoin will be mined, if the only question you have left without answer is that, then I am amazed. Also if we consider that some bitcoind are lost or will be lost in futurr. react may change time by time according to supply and demand. Btw what will happen once all coin will be mined? Miners only profit will be fees collected from transaction confirmations, this leads me to believe price will be huge by that time. |
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mrcash02
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December 04, 2018, 04:04:48 PM |
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I believe by that time, when all BTCs will be mined, there will be cheaper sources of energy and more technological machines than the currently miners. So it will be possible to make a decent profit just by receiving for transactions confirmations in a way it won't be so expensive for Bitcoin users too. Now seems unrealistic to think this way, time is needed until we achieve enough technology to make it work in a sustainable way for everyone.
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MULTIK888
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December 04, 2018, 05:48:06 PM |
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1. Bitcoin mining will not end soon - about 4 million bitcoins have not been mined yet! Over time, the complexity of the production of the block will increase, so the time for its production will also be increased - this means we still have a lot of time for their production.
2. Miners will not go anywhere and will not turn off their machines as the network in any case should work, and with it should be confirmed hundreds of transactions every second for which miners are rewarded. This is what this network is built on and it will not go anywhere because trade and transactions are carried out constantly.
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█ https://www.gooreo.com/ █ Gooreo [/ u] - Дeцeнтpaлизoвaннaя плaтфopмa кapьepы! █ https://t.me/gooreo █ [/ center] |
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boyptc
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December 04, 2018, 05:56:51 PM |
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They have answered it already. In short : mining will continue for confirming transactions. But there are many possibilities that can change in the future until that day would come. this leads me to believe price will be huge by that time.
$100,000,000 / btc? |
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Idrisu
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December 04, 2018, 06:18:47 PM |
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Hello community. How will the market react to the fact that bitcoin mining is stopped and all BTC are mined? Share opinions.
We cannot really tell now until we get there. Bitcoin will one day be mine and what would happen to cryptocurrencies after that is in the warm of time. Currently we need very serious investments and adoption into cryptocurrencies market to see it recover. Most of the investors have converted into fiat and that should be a great concern to all of us. |
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Capt00
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December 04, 2018, 06:32:49 PM |
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Hello community. How will the market react to the fact that bitcoin mining is stopped and all BTC are mined? Share opinions.
Miners will always there because every time we make transactions we paid miners via tx fee of our every transaction and that is impossible to happen that miners will stop by their miner machines. As far as I know not all Bitcoins are being mined still there are some miners thinking that mining is very profitable. There are 21 million Bitcoins that can be mined in total and 17 million bitcoins in existence, did you think that can be mined all in a short time? |
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Reid
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December 04, 2018, 09:34:12 PM |
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Hello community. How will the market react to the fact that bitcoin mining is stopped and all BTC are mined? Share opinions.
No miners means nothing will happen. I dont think that will happen though. In fact thw difficulty reached its peak for there are too many miners by now. They will take their profits from TX fees and with large quantities of transactions that will happen they will making more than what they are having by now. If they quit then they will be easily switched by a new one. If it gets lesser then it will be better for those who want a bigger profit. |
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hildacitra
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December 04, 2018, 11:42:13 PM |
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If bitcoin mining stopped, bitcoin price automatically will raise. And altcoins suppose to raise the price too. Don't worry about the market now because once we have involved in bitcoin, we should deal with this situation that cryto and bitcoin are volatile. So, we will not be surprised for this red market.
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hugeblack
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Buy/Sell crypto at BestChange
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December 05, 2018, 05:10:41 AM |
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Hello community. How will the market react to the fact that bitcoin mining is stopped and all BTC are mined? Share opinions.
If the economic benefit of mining is when the price is above $ 5,000, the low price to $ 4000 does not mean stopping all activity and stopping mining. In fact, those miners earned a lot when the price was up to $ 6,000 - $ 20,000, and the price did not drop for a long time. In addition to the free money flowing to them from some HardForks "BCH, BSV". So I do not see any effect of the low price on mining and even if there is an effect will be positive by reducing the amount offered. |
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figmentofmyass
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December 05, 2018, 07:06:24 AM |
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Hello community. How will the market react to the fact that bitcoin mining is stopped and all BTC are mined? Share opinions.
this question is more relevant today than most people think. by roughly 2032, the block subsidy (once 50 BTC) will be < 1 BTC. that's only 14 years away. the answer depends on transaction fee revenue for miners. if fees don't rise enough (due to limited block space), or if price doesn't rise enough to pay for miner speculation, there is a possibility that miners might begin shutting down en masse. a steep enough drop in hash rate could open the network up to various attacks as previously obsolete hardware becomes viable again. in a worst case scenario, the network could grind to a halt, unable to to reach a difficulty adjustment. |
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yitzjoe
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December 05, 2018, 07:27:02 AM |
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Bitcoin mining that still uses POW requires miners to confirm and verify transactions and it is absolutely different from other coins that have used POS mining which is better in my opinion. if what you mean is that bitcoin has been mined then a harfork is needed to continue bitcoin activities if the market and users are still needed
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playboy654
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December 05, 2018, 07:44:33 AM |
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Bitcoin mining that still uses POW requires miners to confirm and verify transactions and it is absolutely different from other coins that have used POS mining which is better in my opinion. if what you mean is that bitcoin has been mined then a harfork is needed to continue bitcoin activities if the market and users are still needed
There is nothing changes in the process of exchanging are buying in the cryptocurrency field but the investing people are little much disappear at this moment But Someday we'll get into this project and make cryptocurrency is more valuable soon, I hope it will be happen soon. |
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WilliamCrum
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December 05, 2018, 12:49:16 PM |
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Everyone keeps talking about this "last coin mined" thing like it is something that is close. First of all the last coin that will be mined is estimated to be at around year 2140, I know there has been some calculation difference and we are on a faster track but if we keep this up going for a long period of time it still won't be anytime soon.
Hence you do not have to worry about the last coin that will be mined. Even with that in mind, like it was previously mentioned the last coin that will be mined is not the important part here because the transaction fee's cover the expenses already hence the mined coin count is not important anymore. People are mining and making money thanks to the transaction fee's already and the longer we wait the more people will start sending and receiving money hence the transaction fee's will be more in number.
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sinkfish
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December 05, 2018, 01:00:08 PM |
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By the time we're even remotely close to have mined the last couple of Satoshis, we're dealing with different (far more cost efficient) hardware and mining farms owning their own power plants. In the long run, we might even see Bitcoin turn into a POS coin in the worst case scenario. Possibilities are wide open and no one right now knows what the exact outcome at that point will be. If you're forced to act, you'll do everything needed to make sure your incentives are well protected. I'm glad we don't have to think about it much right now, because we have other things to focus on. true that, i dont think manufacturers will let the industry die, they will work out something to keep them in the business. that is why BCH and BSV is created. in the mean time, we only can wait and see how it will turn out eventually. |
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