Topic: Future of Bitcoin mining ? - page 2. (Read 1701 times)

yeah, but those transaction fees are very low as i know.. so rewards will aslo be very low?

reward for mining. for that encrypting of network.. for having that asic's hashing machine at home and paying ot for electric consumption.

After all bitcoins are mined (will take many years till we get there) miners still get the transaction fees. So mining will always bring some income more or less...

What do you mean by the reward? Reward for what?

i believe that the reward will come from transaction fees after all the bitcoins are mined

yeah, thats sound realisrtic. so ok, speed of minning maybe wont grow up that much.. but question is still the same.. what after all bitcoins are mined out? what will be the reward?

My understanding is that as the overall processing power of the bitcoin network increases, the difficulty to mine bitcoins increases to keep the overall rate of bitcoin production constant. so all these ASICs coming online will just increase the difficulty level, but the rate of overall bitcoin production stays the same

Hi fellas,

after some days stucked in this forum reading a lot of info about bitcoin mining i have some questions?? hope some admin might answer me

First i see there is a big change going to happen right now, with asic's going in to the game. If i understand it right, theese asic's are going to affect growth of hashing difficulity. i read that if all avalons from batch 1+2 starts mining difficulity will be doubled, or more.
But imagine that all about 20k orders in bfl will be send and pluged to network, how does this affect minning?
Does this difficulity growth just mean longer time to make a block? and how much does this difficulity growth affect minning? will be time for making a block doubled or so??
i think that those users who was there when miners moved from cpu's to gpu' can easily predict what is going to happen right now.
and what about price of bitcoin? does this super faster hashing speed means gorwth of bitcoin price?

Last qouestion is: as i know, now is about 50% of bitcoin mined, it took about 4 years from 2009. now with that asic's qoing in game i thing that rest 50% might be mined out till end of 2013, or maybe later.
thats not the point.. point is what then? what after all bitcoins are mined out? does it make some sense to keep all those asic's and other mining rigs run? i understand that reason to run then, is to make this great network alive, but will be those miners rewarded somehow?

thaks for answers and sorry for my poor english