any chance bitcoin will die after Unmineable ..?

Amph

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Quote from: crossabdd on March 21, 2016, 03:52:35 AM

U.S. Dollar is unmineable but it's still strong..?
i think in future bitcoin more stronge than today, after unmineable, we will know the real rate for bitcoin.

it's printable which is the same thing, or digial printable, they can just with a few click magically create numbers on your bank account, which is worse than mining, because there is no fixed cap

KennyR

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When bitcoin becomes unmineable the miners are the one who gets affected more. To avoid such situation bitcoin transactions will be made little high than the present.

crossabdd

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U.S. Dollar is unmineable but it's still strong..?
i think in future bitcoin more stronge than today, after unmineable, we will know the real rate for bitcoin.

noobhelper178

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Mining will already be low by 2030, so better worry about that, but i dont think it will.

By that time the transaction fees will be enough, the price can easily be 5000-10000$ by then.

Whosdaddy

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Mining reward is just a part of bitcoin mining and it is not completely the core part of bitcoin ecosystem to dependent for 100% existence. The present mining reward for miners has two parts: block reward + transaction fees.

Block reward will keep on increasing with every halving.
The amount of transaction fees will increase with the bitcoin popularity and the value of transaction fees will keep on increasing when bitcoin prices go up.

So, there is no problem for the miner at any point of time like block reward goes to zero or all the bitcoin are getting mined out.

JasonXG

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There so many transactions going on world web every second and someone needs to process this so mining will always be around. You should learn about bitcoin because you don't seem to understand. The mining and blockchain facilitates bitcoins everywhere. So instead of a central bank each and every miner contributes to it. It's a joined effort.

ebookscreator

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Bitcoin will won't die and i think it will increase more after halving and they can start mining aswell ..just wait for halving mining will be profitable after halving..

BTCBinary

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If bitcoin goes down it will be for another issue and not because minng will end. Once new coins issuance is finished mining will still be going on, but instead of mining new coins, miners will be receiving the fess.

romero121

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No such issues will arise when bitcoin becomes unmineable. The reason is the mined coins will be in circulation. With this the miners will earn on each transactions.

aardvark15

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I think there is a chance that it will die as bitcoin gets harder to mine. I also wonder if the fees will get too high. The good news is that will be well into the future after we're long gone.

uncaer9

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Quote from: DannyHamilton on March 16, 2016, 11:46:38 AM

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.

+1
Thank's for your explanation, it's make me still trust bitcoin for future

silentkiller

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Bitcoin will live as long as there are miners, maybe bitcoin will be use in the next generation, and it will change all the currency around the world. It would be great if bitcoins will be the currency of all countries around the globe

lolgato1

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It won't they will just have to live of the fees Grin

. As the fees and the price it will still be like now.

romero121

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Bitcoin would never die. The reason is bitcoin usage will never end. When un-mineable situation arise the previously created bitcoin will be circulated, because bitcoin will be in a state equal to dollar.

Kotone

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Bitcoin wont die, miners still mining for fee of transactions sends by the users
Its impossible to kill bitcoin with all the users worldwide.

btcltccoins

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Bitcoin mining will stop in year 2148. At that time no one from us would be there to see the effects of that.
But its a long time. Since technology is growing day by day, who knows that at that time, the solution of this would be provided. So we need not worry about it too much.

ronaldinho_07

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Anyway that is something the core of bitcoin should start to think about the future how to keep bitcoin safe and making it growing,or atleast become stable at 1000dollars above i believe bitcoin will hit 1500 -2000 dollars over the years ,and well our current fee will raise to keep bitcoin protected otherwise hackers will get the bitcoin to themselfes.

Amph

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Quote from: franky1 on March 16, 2016, 11:46:59 AM

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)

i remember the calculation says 2140 therefore neither 2100 or 2148(btw he said 2148 not 2018)

maokoto

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Before that happens, probably some mechanism to ensure network stability will be put forth. Perhaps some POS system or modified fee system.

RealPhotoshoper

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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.

so,its just your opinion?or you have read from article?is your mean bitcoin really will keep alive until 2148?and on that year the fee will up to $1?
if that's true,i dont think we still alive of course,and i just corious about the best answer from this. i'm also wondering how if bitcoin can't be mine again,and there's only bitcoin transacted in this world,no more bitcoin classic.

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

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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 ..? (Read 1535 times)