Can anyone help me with one thing?
im wondering about transactions,exactly about confirmations in let's say for example 2025.
In 2025 we will see a big % of bitcoins already mined out of pool,so mining will get less profitable.
So if there will be less miners (probably) and more transactions,what is going happen with confirmation time?
Im just not sure about this,anyone got some idea?
Blocks will be mined every 10 miniutes on average, regardless of more or less hash power.
The difficulty is adjusted every 2 weeks approx.
So as long as any hash power change is not too vast and sudden, then the difficulty will trail closely by.
That is also why blocks are still 10 miniutes now, as they were 5 years ago, even though hash power has continually grown.
(sudden hash power changes can disrupt block times adversely, and is valuable as part of a hard fork consensus mechanism)
There is no reason mining should be less profitable if there are more transactions.
More transactions should equate to more user, more users should equate to higher value, higher value should compensate less block reward.
Confirmation times wil depend on mempool backlog, or not.
If bitcoin has adequately scaled, then the mempool backlog will be low.
If bitcoin is still stuck at 1mb as now, then the mempool backlog could render bitcoin unusable.
