I've seen block reward halfing with alt-coins and their mining profitability remains relatively unchanged. A perfect example of FUD in action on the OP behalf.
The question now is, is this an engineered attempt at FUD i.e. a TROLL!! or simply the result of ignorance and lack of research?
Topic: if the number of transactions doesn't pick up by 8/16 miners will have to quit - page 3. (Read 4089 times)
March 16, 2014, 07:02:33 PM
March 16, 2014, 06:50:04 PM
Newbie, go do more research before posting nonsense.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
March 16, 2014, 05:59:21 PM
Adding too much fee will kill bitcoin. Only strongest miners will survive
March 16, 2014, 05:47:38 PM
Another dynamic to consider is that less new coins means less supply driving up the price and making mining more profitable
you are correct that the reduced inflation will somewhat balance the reward halving shock.
but considering that today transaction fee's are a very negligible profit for miners it seems to me that the block reward halving (and thus almost halving of the miner's income unless the current situation changes)
will be a major shock to the network despite the relatively small reduction in inflation.
March 16, 2014, 05:42:15 PM
The block reward is scheduled to be halved on around august 2016.
when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
What needs to be prevented, exactly? And why?when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
People saying bullshit like "mining will become unprofitable" clearly haven't got a clue how mining and the adaptive difficulty works.
Minnig will always remain profitable for "enough" people. ALWAYS.
when i say mining will become unprofitable i obviously mean mining will become unprofitable at the current difficulty (or what ever it will be when this event happens).
the reward halving will force both difficulty and network hash rate to drop thus making the network more vulnerable to a 50% attack.
unless of course the transaction fee's will be the vast majority of profits made by miners by then.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
March 16, 2014, 05:39:04 PM
Another dynamic to consider is that less new coins means less supply driving up the price and making mining more profitable
March 16, 2014, 05:16:14 PM
Welcome to bitcointalk.org!
Please refrain from marginalizing yourself by using sensational titles then admitting total ignorance in your posting.
Perhaps stick to questions rather than statements until you know what you're talking about.
Fair warning; we have ignore buttons and you're question have been answered here in the forum multiple times already.
Act like an adult and watch what you type. Or be treated like a troll.
Keep learning!!
Respectfully,
L
Please refrain from marginalizing yourself by using sensational titles then admitting total ignorance in your posting.
Perhaps stick to questions rather than statements until you know what you're talking about.
Fair warning; we have ignore buttons and you're question have been answered here in the forum multiple times already.
Act like an adult and watch what you type. Or be treated like a troll.
Keep learning!!
Respectfully,
L
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
March 16, 2014, 04:57:01 PM
The block reward is scheduled to be halved on around august 2016.
when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
i assume you mean network hash rate... if it drops, then opportunities open up
for more miners and we reach a new equilibrium. I dont see the problem.
March 16, 2014, 04:50:06 PM
The block reward is scheduled to be halved on around august 2016.
when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
What needs to be prevented, exactly? And why?when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
People saying bullshit like "mining will become unprofitable" clearly haven't got a clue how mining and the adaptive difficulty works.
Minnig will always remain profitable for "enough" people. ALWAYS.
March 16, 2014, 04:37:44 PM
The block reward is scheduled to be halved on around august 2016.
when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
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