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Shashi Yakuza
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December 25, 2011, 03:39:28 AM
 #21
Quote from: nmat on December 21, 2011, 10:22:29 PM
I think that no one really knows what works and what doesn't. Bitcoin was created this way so it will stay this way.
For good or bad you are correct, it's stuck that way.

What would happen if suddenly the miners dried up? Would that affect the integrity of the blockchain or limit its ability to grow?
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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December 26, 2011, 03:26:46 AM
 #22
Quote from: Shashi Yakuza on December 25, 2011, 03:39:28 AM
What would happen if suddenly the miners dried up? Would that affect the integrity of the blockchain or limit its ability to grow?

Miners make transactions possible. Without miners Bitcoin simply wouldn't work. But as long as there is someone willing to buy bitcoins, there will probably be some other person willing to mine.
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