any chance bitcoin will die after Unmineable ..? - page 2.

franky1

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Quote from: watashi-kokoto on March 16, 2016, 11:04:11 AM

In year 2148 Bitcoin mining stops

We hope the network wil be able to operate from fees in year 2100

yes 2100.. not 2018
no need to panic or rush to throw transaction fees at miners just yet. its not a main source of income for them yet so cool off any worry that we need to throw large fees at them today

just like we should not throw bank notes at banks today worried that they might want a bailout in 100 years(think logically and long term)

DannyHamilton

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Quote from: uncaer9 on March 16, 2016, 10:46:19 AM

after bitcoin unmineable the miner will stop his mining,

Why? Won't he want the transaction fees?

Quote from: uncaer9 on March 16, 2016, 10:46:19 AM

then the network of bitcoin will be down,

Why? Can't I just run my own miner if I want my transaction to confirm?

Quote from: uncaer9 on March 16, 2016, 10:46:19 AM

each transaction will require a very long time to reach 1confirmation,

Why? Shouldn't the difficulty adjust automatically so that blocks still occur on average every 10 minutes?

Quote from: uncaer9 on March 16, 2016, 10:46:19 AM

or need highest fee.

Why? Won't there still be at least 1 MB of space available in the blocks? If nobody is using it, then should my transaction confirm in the next block (since it is the only transaction)?

Quote from: uncaer9 on March 16, 2016, 10:46:19 AM

so the bitcoin user will be use other payment gateway, and bitcoin will be die..

this might happen in the future... ?

That's a whole lot of nonsense and FUD you put in that post.

unamis76

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Voted "it's possible". For all we know Bitcoin can die tomorrow, so... Cheesy

Although that's highly unlikely, obviously

I think that by the time Bitcoin mining ends we either have something better than Bitcoin or Bitcoin will have developed so much that we can't call it Bitcoin anymore. I don't think it will have an abrupt end and things like Bitcoin, cryptocurrencies and blockchain technology won't cease to exist.

~Bitcoin~

legendary

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There will be more transaction going per second (hope block size will increase according to demand) and so the fee associated with it will be like more than reward they get per block so miner will be happy to continue miniing without any fixed block reward.

crossabdd

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Quote from: Yakamoto on March 16, 2016, 11:15:06 AM

Once Bitcoin reaches the total amount of mineable coins transaction fees with merely go up.

By the year 2148 either Bitcoin will be a big thing or it will have died off, and assuming the former is true, there will be enough transactions occurring to make the same amount of money for miners as there would have been if they were still mining normal amounts of Bitcoin.

This means that transaction fees might go up to $1, but I don't think that would be a big loss for anyone at that point.

the fees $1 for each transaction or per Kb ? maybe in future dollar rate will be fail and 30.000 satosi = $1.
anyway i m sure bitcoin will be long life.

Yakamoto

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Once Bitcoin reaches the total amount of mineable coins transaction fees with merely go up.

By the year 2148 either Bitcoin will be a big thing or it will have died off, and assuming the former is true, there will be enough transactions occurring to make the same amount of money for miners as there would have been if they were still mining normal amounts of Bitcoin.

This means that transaction fees might go up to $1, but I don't think that would be a big loss for anyone at that point.

target

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Quote from: uncaer9 on March 16, 2016, 10:46:19 AM

after bitcoin unmineable the miner will stop his mining, then the network of bitcoin will be down,
each transaction will require a very long time to reach 1confirmation, or need highest fee.

so the bitcoin user will be use other payment gateway, and bitcoin will be die..

this might happen in the future... ?

Will probably not happen so long as there are people using bitcoin, miners will still earn fees per transaction so sure bitcoin will still circulate. And by then its value may be higher then what it is today for miners wouldn't mine if they don't get deserving amount.

watashi-kokoto

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In year 2148 Bitcoin mining stops

We hope the network wil be able to operate from fees in year 2100

learncoin

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If some miners decides to shut down, then the difficulty level will decrease and adjust itself to the network...

pedrog

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Quote from: uncaer9 on March 16, 2016, 10:46:19 AM

after bitcoin unmineable the miner will stop his mining, then the network of bitcoin will be down,
each transaction will require a very long time to reach 1confirmation, or need highest fee.

so the bitcoin user will be use other payment gateway, and bitcoin will be die..

this might happen in the future... ?

uncaer9

sr. member

Activity: 413

Merit: 250

after bitcoin unmineable the miner will stop his mining, then the network of bitcoin will be down,
each transaction will require a very long time to reach 1confirmation, or need highest fee.

so the bitcoin user will be use other payment gateway, and bitcoin will be die..

this might happen in the future... ?

Topic: any chance bitcoin will die after Unmineable ..? - page 2. (Read 1528 times)