Pages:
Author

Topic: How is the amount of BitCoin limited if people mine them everyday? - page 2. (Read 1484 times)

hero member
Activity: 504
Merit: 500
and what happens if we reach the cap?

Eventually we 'll reach the limit and there will be no new coins after that.
People though will keep mining for the transaction fees. If this is what you wonder about...

When approximately are we going to reach the limit?
and what do you mean by mining for the transaction fees?

thanks for the answers everyone Smiley
member
Activity: 114
Merit: 10
and what happens if we reach the cap?

Eventually we 'll reach the limit and there will be no new coins after that.
People though will keep mining for the transaction fees. If this is what you wonder about...

It will be long when transaction fees are more than block reward, probably 15+ years, but it will happens one day. Very interesting Bitcoin future, indeed
sr. member
Activity: 476
Merit: 250
and what happens if we reach the cap?

Eventually we 'll reach the limit and there will be no new coins after that.
People though will keep mining for the transaction fees. If this is what you wonder about...
sr. member
Activity: 447
Merit: 250
Try the bitcoin wiki, check the difficulty section.

https://en.bitcoin.it/wiki/Mining

member
Activity: 114
Merit: 10
Im wondering how come the BitCoins amount is limited if people mine new coins everyday? is it possible that we might mine too much and reach the bitcoin cap? and what happens if we reach the cap?


The more people mining, the less each mine. One block is worth 25 BTC regarless if 1.000 or 1.000.000 people mine and difficulty adjust so it takes 10 min on average to find a 25 BTC block
hero member
Activity: 504
Merit: 500
Im wondering how come the BitCoins amount is limited if people mine new coins everyday? is it possible that we might mine too much and reach the bitcoin cap? and what happens if we reach the cap?
Pages:
Jump to: