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Topic: Bitcoin Network - page 2. (Read 995 times)

hero member
Activity: 798
Merit: 501
July 02, 2016, 08:43:28 AM
#6
How bitcoin maintain its network when bitcoin no longer mineable?

Miners will continue to work and secure the network , instead of getting block rewards they will gain the transaction fees instead.

Who cares really ? None of us will be alive at that point.

what realistic comment Smiley and a bit sad Sad

But I think someone will survive Wink with the progress of medicine we can't know Wink our future ... and btc user really young (10 years) probably they can see the last btc mined!
hero member
Activity: 490
Merit: 520
July 02, 2016, 08:40:30 AM
#5
How bitcoin maintain its network when bitcoin no longer mineable?
Miner's fees.

More or less, whenever we get around to that point, assuming the network had been constantly expanding and growing, we would see Bitcoin at a relatively high value, however the actual economics of it are fuzzy because there would be nearly no minimum value Bitcoin would be sold for. Aside from that this would allow for users to send relatively small fees along with their transactions (maybe smaller than today's if the block sizes are increased and the volume also increases) and yet pay the miners enough for everything to continue operating.
legendary
Activity: 2296
Merit: 1014
July 02, 2016, 08:35:17 AM
#4
How bitcoin maintain its network when bitcoin no longer mineable?
Simple answer, with transaction fees.
In reality? Noone really knows, we will see tho Wink i think it will go well, coz bitcoin is supported by devs/miners they will find solution if problems arise.
legendary
Activity: 1218
Merit: 1006
July 02, 2016, 07:54:50 AM
#3
Quote
Mining reward will be zero by 2140 A.D. based on the block reward halving frequency of four years.

So we all will not be living by that time, but miners keep on mining even they don't get block reward as fee will be enough to keep mining. As by that time i think even 10000 satoshi fee will be valued more than a dollar so making mining still profitable by that time. Bitcoin network is self balancing for its existence this is really a great feature for sustanibility of bitcoin. That's why we all love bitcoin..
staff
Activity: 3500
Merit: 6152
July 02, 2016, 07:44:42 AM
#2
How bitcoin maintain its network when bitcoin no longer mineable?

Miners will continue to work and secure the network , instead of getting block rewards they will gain the transaction fees instead.

Who cares really ? None of us will be alive at that point.
full member
Activity: 170
Merit: 100
July 02, 2016, 07:34:39 AM
#1
How bitcoin maintain its network when bitcoin no longer mineable?
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