Topic: Asking for Views on what happens after a coin is mined out. (Read 423 times)
Id look at the examples which are already out there. Mint is POS only for over a week now. PMC and C2 were handed out and exist solely on transaction fees. HUC block rewards for miners not participating in the game are rewarded a small percentage. I personally think if the coin is valuable enough that mining for transaction fees would be worth it. It will be interesting nonetheless, and we get to see all the experiments happening currently!
if a coin has been mined to completion, miners will need to stay on to maintain the blockchain.
ideally the blockchain should be globally distributed, but with the plethora of altcoins, many weaker coins will fall under national/corporate/cartel/pool control with a few warehouses of asics (or whatever replaces asics). this will make most coins centralized, or they'll wither and die.
most coins won't survive: huge network hashrate will be required for a single blockchain with fast transaction confirmations. we desperately more powerful asics to protect coins like litecoin or dogecoin, because right now they can both be forked by each other. having some form of blockchain computer in every home may be a future appliance everyone has. (e.g. everyone needs a space heater!) it would be fair trade for 'no banks ever again'.
also, dogecoin does not have a hard cap anymore which can motivate miners to stay on dogechain indefinitely. Scrypt asics are finally here but we need more of them, and all of us should be running some.
ideally the blockchain should be globally distributed, but with the plethora of altcoins, many weaker coins will fall under national/corporate/cartel/pool control with a few warehouses of asics (or whatever replaces asics). this will make most coins centralized, or they'll wither and die.
most coins won't survive: huge network hashrate will be required for a single blockchain with fast transaction confirmations. we desperately more powerful asics to protect coins like litecoin or dogecoin, because right now they can both be forked by each other. having some form of blockchain computer in every home may be a future appliance everyone has. (e.g. everyone needs a space heater!) it would be fair trade for 'no banks ever again'.
also, dogecoin does not have a hard cap anymore which can motivate miners to stay on dogechain indefinitely. Scrypt asics are finally here but we need more of them, and all of us should be running some.
you still mine the coins to get the transaction fees...
As soon as there's no more coins, people will have to pay more in transaction fees to keep their wealth going. If you don't pay your money doesn't move, if you're cheap your money move slowly...
This generate a completely new branch of crypto.
As soon as there's no more coins, people will have to pay more in transaction fees to keep their wealth going. If you don't pay your money doesn't move, if you're cheap your money move slowly...
This generate a completely new branch of crypto.
Hi all, I am just an investor on the market, like you.
Of late, the previous month, I realize that the altcoin market is facing a new issue:
"coins that will soon, or just had been mined out"
Quark for example, is now mined out.
Mintcoin for example, appears to have a short mining life.
Doge is 60%+ mined out already after just.. 3 months.
Zetacoin also mined out.
then you have the more bitcoin like mining schedules of:
Litecoin, Feathercoin, Worldcoin, Megacoin
and the no upper limit (not annual inflation addition)
Primecoin. which will keep mining with increase difficulty.
I see many theories about what happens then, usually leading to a polarized answer, either 'to hell' or 'to the moon'.
Can I ask what everyone's view is on this?
This is really just for my study sake, I appreciate logical answers and discussions.
thanks for the assist.
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