51% problem still existant after all coins have been mined ?

[42246709215]

Someday all Bitcoins will have been mined.

Is mining then still necessary ?

And is the 51% problem still in existance ?

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[Fredyy]

Of cause!

Minging will never end and the last Bitcoin will never be mined!

[42246709215]

Ah. Okay... ??

What in case all coins have been premined, as it can be seen with some AltCoins ?

[shorena]

Ah. Okay... ??

What in case all coins have been premined, as it can be seen with some AltCoins ?

No new blocks mined = no transactions confirmed. Without mining the network dies.

Of cause!

Minging will never end and the last Bitcoin will never be mined!

Ofc there will be a time when the last bitcoin has been mined, from that day on only transactions fees will be the reward for mining.

[Baitty]

Yes because mining will continue but I think it will be much more likely of a 51% attack due to many miners dropping out of the network.

[Malin Keshar]

Someday all Bitcoins will have been mined.

Is mining then still necessary ?

And is the 51% problem still in existance ?

The network will need hash power to verify transactions. Won't exactly be mining because there is no more bitcoin to dig, but not different in practice.

51% stuff is related to hash power controlled by a single organization, since many miners may drop in this stage, will be more serious than any time before.

[lynn_402]

Since this will be in more than 50 years, many events can happen to make Bitcoin secure even though there are no block rewards to incencitive miners.

Bitcoin could become widespread enough for mining to be sustainable with transaction feess, or perhaps in 40 years it will switch to PoS v.24 or something like this

[42246709215]

But if the majority will stop mining and miner hardware will get very cheap it should be extremely easy to get control over 51% mining power then ?

[42246709215]

Since this will be in more than 50 years, many events can happen to make Bitcoin secure even though there are no block rewards to incencitive miners.

Bitcoin could become widespread enough for mining to be sustainable with transaction feess, or perhaps in 40 years it will switch to PoS v.24 or something like this

There are many other CryptoCurrencies that will finish coin generation soon.... How will they be able to work then if they are that vulnerable ?

[lynn_402]

Since this will be in more than 50 years, many events can happen to make Bitcoin secure even though there are no block rewards to incencitive miners.

Bitcoin could become widespread enough for mining to be sustainable with transaction feess, or perhaps in 40 years it will switch to PoS v.24 or something like this

There are many other CryptoCurrencies that will finish coin generation soon.... How will they be able to work then if they are that vulnerable ?

All altcoins I know which have finished coin generation use PoS, so no mining is needed.

[ihuntbtc]

This is just not a real problem. And no mining doesnt go on forever, they will get paid to process transactions.

[42246709215]

Since this will be in more than 50 years, many events can happen to make Bitcoin secure even though there are no block rewards to incencitive miners.

Bitcoin could become widespread enough for mining to be sustainable with transaction feess, or perhaps in 40 years it will switch to PoS v.24 or something like this

There are many other CryptoCurrencies that will finish coin generation soon.... How will they be able to work then if they are that vulnerable ?

All altcoins I know which have finished coin generation use PoS, so no mining is needed.

Is not needed means not possible anymore ?
Because if it´s possible a 51% attack would still be possible.

[lynn_402]

Since this will be in more than 50 years, many events can happen to make Bitcoin secure even though there are no block rewards to incencitive miners.

Bitcoin could become widespread enough for mining to be sustainable with transaction feess, or perhaps in 40 years it will switch to PoS v.24 or something like this

There are many other CryptoCurrencies that will finish coin generation soon.... How will they be able to work then if they are that vulnerable ?

All altcoins I know which have finished coin generation use PoS, so no mining is needed.

Is not needed means not possible anymore ?
Because if it´s possible a 51% attack would still be possible.

Actually no, it's impossible to mine a PoS coin.
Blocks are generated by coin-age consumption.

[ihuntbtc]

What I fear is a strategic attack by cartels with tons of hashing power.

[ihuntbtc]

What can be done about that?

[zhinkk]

Of cause!

Minging will never end and the last Bitcoin will never be mined!

I'm confused... why? I thought mining of bitcoins WILL end, it's just that miners will have to settle with the transaction fees they get from the blocks.

[Simon8x]

Someday all Bitcoins will have been mined.

Is mining then still necessary ?

And is the 51% problem still in existance ?

Yes.
Yes.
Yes.

Mining (Block finding) not only gives the miner block rewards and tx fees, but also puts unconfirmed tx into the blockchain to make it confirmed.

[Simon8x]

But if the majority will stop mining and miner hardware will get very cheap it should be extremely easy to get control over 51% mining power then ?

Some will keep mining for tx fees. Some will keep mining to keep bitcoin alive. Some will mine for fun.

[minerpumpkin]

But if the majority will stop mining and miner hardware will get very cheap it should be extremely easy to get control over 51% mining power then ?

Some will keep mining for tx fees. Some will keep mining to keep bitcoin alive. Some will mine for fun.

That's the beauty of it. It effectively is a self-regulating ecosystem. If there's not enough incentive, people just drop off of mining. But some will continue nevertheless. It's not as if we need a minimum number of miners. Just a large enough number that a decentrilazation is effectively achieved.

[polynesia]

Some will keep mining for tx fees. Some will keep mining to keep bitcoin alive. Some will mine for fun.

And some will have made so much money through BTC, that they would leave a portion of their legacy to pay for mining.