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The Economy of Mining
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Topic: The Economy of Mining (Read 1305 times)
jirakst
(OP)
Newbie
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Activity: 2
Merit: 0
The Economy of Mining
March 10, 2015, 08:32:47 PM
#1
Hello,
I would like to ask what happen if number of miners get trippled.
Will be then amount of
BTC
mined with the same hashpower 3x less?
Thanks!
MCHouston
Hero Member
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Activity: 882
Merit: 500
Where am I?
Re: The Economy of Mining
March 10, 2015, 09:10:19 PM
#2
Quote from: jirakst on March 10, 2015, 08:32:47 PM
Hello,
I would like to ask what happen if number of miners get trippled.
Will be then amount of
BTC
mined with the same hashpower 3x less?
Thanks!
Your chance of finding a block will decrease, as now the new miners will be getting blocks too.
BTC 13WWomzkAoUsXtxANN9f1zRzKusgFWpngJ
LTC LKXYdqRzRC8WciNDtiRwCeb8tZtioZA2Ks
DOGE DMsTJidwkkv2nL7KwwkBbVPfjt3MhS4TZ9
jirakst
(OP)
Newbie
Offline
Activity: 2
Merit: 0
Re: The Economy of Mining
March 10, 2015, 09:57:02 PM
#3
OK, thanks a lot.
desertfox470
Sr. Member
Online
Activity: 542
Merit: 251
Re: The Economy of Mining
March 11, 2015, 04:52:20 AM
#4
Quote from: jirakst on March 10, 2015, 08:32:47 PM
Hello,
I would like to ask what happen if number of miners get trippled.
Will be then amount of
BTC
mined with the same hashpower 3x less?
Thanks!
The difficulty would increase making the chance of someone finding a block much harder. It would still be the same block reward.
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