It's 2140 not 2040.
Thank you. I corrected my error.
Topic: Discussing Bitcoin's future, and increasing its total supply - page 2. (Read 2313 times)
Thank you. I corrected my error.
It's 2140 not 2040.
I have been thinking extensively about Bitcoin's future and have proposed a few questions to discuss.
1) In 2140 when all of the Bitcoins have been mined, what motivation will miners have to continue mining?
2) After the Bitcoins run out, will the experiment be over? Will we just all move to a brand new Bitcoin 2.0?
3) Will testnet Bitcoins ever have any value?
4) Do you think modifying Bitcoin so that it indefinitely inflates over time would be a good idea?
I personally believe that Bitcoin should not stop inflating. Miners will have almost NO incentive when mining after the block reward is gone. Mining fees aren't high enough and people will have to pay a premium to get their transactions completed. Even if we doubled block halving to 8 years instead of 4, it would help.
Also, do you think a shorter confirmation time will help Bitcoin out as well? As adoption grows and the economy expands, confirmation time needs to change. An hour long confirmation time simply isn't acceptable for the majority of people.
1) In 2140 when all of the Bitcoins have been mined, what motivation will miners have to continue mining?
2) After the Bitcoins run out, will the experiment be over? Will we just all move to a brand new Bitcoin 2.0?
3) Will testnet Bitcoins ever have any value?
4) Do you think modifying Bitcoin so that it indefinitely inflates over time would be a good idea?
I personally believe that Bitcoin should not stop inflating. Miners will have almost NO incentive when mining after the block reward is gone. Mining fees aren't high enough and people will have to pay a premium to get their transactions completed. Even if we doubled block halving to 8 years instead of 4, it would help.
Also, do you think a shorter confirmation time will help Bitcoin out as well? As adoption grows and the economy expands, confirmation time needs to change. An hour long confirmation time simply isn't acceptable for the majority of people.
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