|
jeffhuys
|
 |
February 15, 2015, 07:14:51 PM |
|
So, all the coins will eventually be mined, right? (What year was it again? I forgot...) And the only incentive to mine will be the fees.
How much would the fees be? They must be rather big to give enough incentive to mine...
|
|
|
|
|
|
|
"You Asked For Change, We Gave You Coins" -- casascius
|
|
|
|
|
vm_mpn
|
|
February 15, 2015, 07:32:24 PM |
|
So, all the coins will eventually be mined, right? (What year was it again? I forgot...) And the only incentive to mine will be the fees.
How much would the fees be? They must be rather big to give enough incentive to mine...
Approximately 2141 when last fraction of bitcoin reward hits the chain... After that purely transaction fees. @ that time fees are most likely to be mandatory and Bitcoin will have much higher conversion value.  |
|
|
|
|
ajareselde
Legendary
 Offline
Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
|
|
February 15, 2015, 08:27:59 PM |
|
So, all the coins will eventually be mined, right? (What year was it again? I forgot...) And the only incentive to mine will be the fees.
How much would the fees be? They must be rather big to give enough incentive to mine...
There will allways be mining the fees, and it will probably still be profitable, believing that the price should be much higher. I doubt fees will be mandatory, because once again, if the price becomes insane, even a fraction of bitcoin for fees would be too much. I believe bitcoin will last for a long time, but also, that it will be replaced by something better in the future, or it will itself be dramaticaly changed to be better. cheers |
|
|
|
|
|
Possum577
|
|
February 15, 2015, 09:31:18 PM |
|
How long does it take to "get to the moon"?
I hope it lasts that long with that much success.
|
|
|
|
|
cryptworld
|
|
February 15, 2015, 11:12:04 PM |
|
I think it will last forever,unless there is a world internet lack
|
|
|
|
|
|
Beymond
|
|
February 16, 2015, 04:07:57 AM |
|
It is not dying anytime soon
|
|
|
|
|
Herbert2020
Legendary
Offline
Activity: 1946
Merit: 1137
|
|
February 16, 2015, 12:39:32 PM |
|
How Long Will Bitcoin Endure?How long? How long can it hold its price? How long can it stand its value? Is the end near? Or will it just be remembered in the statue? It will last till 2140 when all the coins are mined then probably die , we can't see that tho , since we will be all dead by then i am sure by then there will be powerful machines to mine bitcoin easily no matter the difficulty. |
Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
|
|
|
|
Ingatqhvq
|
|
February 16, 2015, 01:02:39 PM |
|
How long? I think long than all of our lifetime.
|
|
|
|
|
koelen3
Legendary
Offline
Activity: 1022
Merit: 1007
Sooner or later, a man who wears two faces forgets
|
|
February 16, 2015, 03:56:41 PM |
|
It's not about endurance , it will just go on as i think
|
|
|
|
|
|
cryptocoiner
|
|
February 16, 2015, 05:16:08 PM |
|
So, all the coins will eventually be mined, right? (What year was it again? I forgot...) And the only incentive to mine will be the fees.
How much would the fees be? They must be rather big to give enough incentive to mine...
Approximately 2141 when last fraction of bitcoin reward hits the chain... After that purely transaction fees. @ that time fees are most likely to be mandatory and Bitcoin will have much higher conversion value. but it will continue to be in existence even after that. So will last much more. Have a doubt we still be needing him at that time. |
|
|
|
|
rikkie
|
|
February 16, 2015, 05:22:13 PM |
|
I think this will stay for ever.
It's now already more than 5 years and still alive, why should it stop in the (near) future.
The price will go up and down, but that is with everything on the market so.
Some other coins will disappear, but bitcoin will stay forever i think.
|
|
|
|
|
BADecker
Legendary
Offline
Activity: 3780
Merit: 1372
|
|
February 16, 2015, 06:30:42 PM |
|
|
|
|
|
BillyBobZorton
Legendary
Offline
Activity: 1204
Merit: 1028
|
|
February 16, 2015, 07:09:11 PM |
|
Thougts on maidsafe's current price? I want to enter the market with at least 1 BTC but im scared we are about to see a correction soon to about 10K again. |
|
|
|
|
gentlemand
Legendary
Offline
Activity: 2590
Merit: 3013
Welt Am Draht
|
|
February 16, 2015, 08:30:19 PM |
|
No idea. Perhaps the most important factor is whether BTC is willing and able to mutate with the times. There's lots of talk of it being able to absorb any innovations that other coins might have, but technical development is stale, maybe rightly so.
I assume layers will be built on top that will allow such things. If it becomes fluid, adaptable and reactive then it could outlast us all. If the ecosystem and interfaces operate in the same manner as it does now in five years then I think it'll wither and die. No doubt there are thousand of bright minds working to change things for the better right now.
|
|
|
|
|
BitUsher
Legendary
Offline
Activity: 994
Merit: 1034
|
|
February 16, 2015, 09:59:42 PM |
|
There are still people who buy and sell obsolete currency for sentimental or collection reasons, I will be one of them and thus bitcoin will likely not fail for a few generation even under the worst possible scenarios.
My expectations are much more optimistic than this however.
|
|
|
|
|
ajareselde
Legendary
Offline
Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
|
|
February 16, 2015, 10:41:23 PM |
|
There are still people who buy and sell obsolete currency for sentimental or collection reasons, I will be one of them and thus bitcoin will likely not fail for a few generation even under the worst possible scenarios.
My expectations are much more optimistic than this however.
But its not like you can frame bitcoin to show around your friends and family, i mean u could frame a paperwallet, but someone would just scan it and take the coins :] I believe bitcoin will last more than 10 years definetly, when most of the mining is over bitcoin will have to proove itself one more time that it stands value, but i think it allready is enough widespread and adopted to continue momentum, and not die out like some rebel idea. cheers |
|
|
|
|
bitkilo
Legendary
Offline
Activity: 1638
Merit: 1010
https://www.bitcoin.com/
|
|
February 16, 2015, 10:51:27 PM |
|
Bitcoin will be around for as long as it takes for another alt coin to surpass it with better technology, ect.
If people start using another coin more than BTC then there will be less transactions which means less fees for the miners, once that happens then BTC mining will no longer be profitable and bitcoin itself could die, i hope not.
|
Not a paid signature, just added to promote Bitcoin.com  |
|
|
GenTarkin
Legendary
Offline
Activity: 2450
Merit: 1002
|
|
February 16, 2015, 11:08:39 PM |
|
Bitcoin lasts technically till at least 1 valid copy of the blockchain exists, once thats gone... its goodbye to Bitcoin forever.
|
|
|
|
Slark
Legendary
Offline
Activity: 1862
Merit: 1004
|
|
February 16, 2015, 11:24:35 PM |
|
Bitcoin lasts technically till at least 1 valid copy of the blockchain exists, once thats gone... its goodbye to Bitcoin forever.
Technically yes. But Bitcoin is strong only as long as people will be willing to use it. If they one day find another way is more efficient - bitcoin will be done for. It only exist because it is worth something for people. |
|
|
|
|
GenTarkin
Legendary
Offline
Activity: 2450
Merit: 1002
|
|
February 17, 2015, 12:31:25 AM |
|
Bitcoin lasts technically till at least 1 valid copy of the blockchain exists, once thats gone... its goodbye to Bitcoin forever.
Technically yes. But Bitcoin is strong only as long as people will be willing to use it. If they one day find another way is more efficient - bitcoin will be done for. It only exist because it is worth something for people. I know that, all I did was just answer OP's question on a very technical level =) Your reply really apply's more so to it actually being worth something and having a market price. But, alas, the protocol & network exist as long as 2 people participate in it, which would be the closest to its 'bitter end'. |
|
|
|
|
