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clonedone (OP)
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April 25, 2011, 11:25:33 PM |
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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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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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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.
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grue
Legendary
 Offline
Activity: 2058
Merit: 1431
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April 26, 2011, 12:34:28 AM |
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if mining is unprofitable, miners will drop out, and the difficulty will fall. Eventually, it will be low enough that it's profitable again.
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BitLex
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April 26, 2011, 12:48:41 AM |
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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!
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clonedone (OP)
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April 26, 2011, 01:15:39 AM |
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awesome thanks guys
then maybe I may invest in a mining rig
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rezin777
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April 26, 2011, 01:46:12 AM |
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Nah... it won't be worth it man! Do you have any GPUs for sale?
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TiagoTiago
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April 26, 2011, 02:51:47 AM |
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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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(I dont always get new reply notifications, pls send a pm when you think it has happened) Wanna gimme some BTC/BCH for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX  The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar! |
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clonedone (OP)
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April 26, 2011, 02:39:52 PM |
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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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proudhon
Legendary
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Activity: 2198
Merit: 1311
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April 26, 2011, 02:49:11 PM |
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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. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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clonedone (OP)
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April 26, 2011, 02:51:48 PM |
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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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