Fee and Bitcoin | Bitcointalksearch.org

Script3d

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Quote from: eckmar on November 05, 2017, 11:10:36 AM

Quote from: Shincerr on November 05, 2017, 10:34:07 AM

Quote from: DRVX on October 18, 2017, 01:03:56 PM

Amount of fee is going just to miners. And that's it!
Don't worry about you question - there are 21 millions of bitcoins.
But... if somebody lost wallet bitcoins will gone forever. So amount of bitcoins will reduce time by time because this reason...

that mean number of Bitcoin less than 21 Million because many old members they lost them Bitcoin and mining be hard how can bitcoin solve this problem ?

That is correct but it's not necessarily a problem. It's a good thing actually. It lowers the supply making the price higher. If you think about it really, the more people lose their wallets with BTC in them it's better for us that hold BTC Grin

but that doesnt mean the bitcoins are burned i think even the older members lose their bitcoin it will not reduce the supply i think it will not take effect in the price because they are not deducted to the total supply sure the price will increase if its burned.

eckmar

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Quote from: Shincerr on November 05, 2017, 10:34:07 AM

Quote from: DRVX on October 18, 2017, 01:03:56 PM

Amount of fee is going just to miners. And that's it!
Don't worry about you question - there are 21 millions of bitcoins.
But... if somebody lost wallet bitcoins will gone forever. So amount of bitcoins will reduce time by time because this reason...

that mean number of Bitcoin less than 21 Million because many old members they lost them Bitcoin and mining be hard how can bitcoin solve this problem ?

That is correct but it's not necessarily a problem. It's a good thing actually. It lowers the supply making the price higher. If you think about it really, the more people lose their wallets with BTC in them it's better for us that hold BTC Grin

talkbitcoin

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All I know is that I know nothing.

Quote from: Shincerr on November 05, 2017, 10:34:07 AM

Quote from: DRVX on October 18, 2017, 01:03:56 PM

Amount of fee is going just to miners. And that's it!
Don't worry about you question - there are 21 millions of bitcoins.
But... if somebody lost wallet bitcoins will gone forever. So amount of bitcoins will reduce time by time because this reason...

that mean number of Bitcoin less than 21 Million because many old members they lost them Bitcoin and mining be hard how can bitcoin solve this problem ?

the maximum allowed number of bitcoin is 21 million. there can not be anything more than that.

but if we are talking about coins in circulation then what he said is correct. when someone loses their private keys those coins are practically lost.
there are also burn addresses which do not have any private keys. any coins sent to those addresses are also considered lost.
also when miners mine a block they get maximum 50 then 25 and now 12.5 BTC and so on in the future. but they can choose to receive less. and i know of at least one occasion where some miner got a 0 amount because he messed with the code he was using to mine.

Shincerr

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Quote from: DRVX on October 18, 2017, 01:03:56 PM

Amount of fee is going just to miners. And that's it!
Don't worry about you question - there are 21 millions of bitcoins.
But... if somebody lost wallet bitcoins will gone forever. So amount of bitcoins will reduce time by time because this reason...

that mean number of Bitcoin less than 21 Million because many old members they lost them Bitcoin and mining be hard how can bitcoin solve this problem ?

killerfrost

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The fee will go to the operator of the mine. This is natural when they need to be paid to maintain Bitcoin's operations. And they use that money for their needs in life, just like us. However, the bitcoin source will not be lost, as it is circulated in the cryptocurrency market. So Bitcoin animations are still working normally without the need for a new bitcoin, which could increase the value of the Bitcoin.

DRVX

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Amount of fee is going just to miners. And that's it!
Don't worry about you question - there are 21 millions of bitcoins.
But... if somebody lost wallet bitcoins will gone forever. So amount of bitcoins will reduce time by time because this reason...

Shincerr

newbie

Activity: 28

Merit: 0

I know bitcoin number is limited only 21 million bitcoins and we send some fee every transaction

so is fee reduce number of bitcoin (because it is bitcoin and not appear on sender and receiver ) Huh

or it go to wallet account Huh

Topic: Fee and Bitcoin (Read 242 times)