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Author Topic: In what year would mining rigs be useless?  (Read 2140 times)
clonedone
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April 25, 2011, 11:25:33 PM
 #1

im assuming around 2017, when 21 million is reached?
then after that we would be mining for transaction fees right? would they even be worth it?
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TurdHurdur
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April 25, 2011, 11:36:59 PM
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They better be, for the strength of the Bitcoin network.
grue
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April 26, 2011, 12:34:28 AM
 #3

if mining is unprofitable, miners will drop out, and the difficulty will fall. Eventually, it will be low enough that it's profitable again.

It is pitch black. You are likely to be eaten by a grue.

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BitLex
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April 26, 2011, 12:48:41 AM
 #4

and besides all that, someday-nonexistant-rewards and however-low-fees,
everyone who's holding some savings in BTC will have an incentive to keep mining, or pay others todo so,
because if noone's mining, all those savings would be worthless.

so, to answer your inital question: never!

clonedone
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April 26, 2011, 01:15:39 AM
 #5

awesome thanks guys
then maybe I may invest in a mining rig
rezin777
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April 26, 2011, 01:46:12 AM
 #6

Nah... it won't be worth it man! Do you have any GPUs for sale?
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April 26, 2011, 02:51:47 AM
 #7

I wonder how bad the market will behave during the transition period while most miners will not be breaking even but people will still not be used to paying larger sums to get their transactions verified...

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clonedone
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April 26, 2011, 02:39:52 PM
 #8

I just bought a rig off newegg with three 6990's
should I have gotten three 5870's instead?

the whole thing cost me a lil less than 3k
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April 26, 2011, 02:49:11 PM
 #9

I just bought a rig off newegg with three 6990's
should I have gotten three 5870's instead?

the whole thing cost me a lil less than 3k

Why 3 5870's instead?  With 3 6990s you'll be doing ~2000Mhash/s.
clonedone
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April 26, 2011, 02:51:48 PM
 #10

ohh i only ask this cus i barely see the 6990's being mentioned around here, I guess its just expensive
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