Topic: is it possible to switch in POS after end of the 21M BTC mined ? (Read 452 times)
I like the optimism here! Why would we want to mess with bitcoin after all is mined? That could easily fuck everything up.
why we should create more coins via minting when even 1 satoshi will have an enormous value?
if you still want to acquire mo btc, you you can still by them in exchange, but in a chunks of bits instead of bitcoin
having more coins in circulation after we reach the 21M will only rise the infaltion, it's not what we want
if you still want to acquire mo btc, you you can still by them in exchange, but in a chunks of bits instead of bitcoin
having more coins in circulation after we reach the 21M will only rise the infaltion, it's not what we want
I don't know much about BTC, so, please, pardon me ---
A simple question :
After 21M btc mined :
1. Transaction fees will cover the mining cost
2. switch to POS (proof of stake)
3. End of BTC, new coin will born
is it possible to switch in POS after end of the 21M BTC mined ?
A simple question :
After 21M btc mined :
1. Transaction fees will cover the mining cost
2. switch to POS (proof of stake)
3. End of BTC, new coin will born
is it possible to switch in POS after end of the 21M BTC mined ?
While 21M is mined, miners will be placed on mars or on commets with elliptical orbit as energy will be too costly on earth.
I don't know much about BTC, so, please, pardon me ---
A simple question :
After 21M btc mined :
1. Transaction fees will cover the mining cost
2. switch to POS (proof of stake)
3. End of BTC, new coin will born
is it possible to switch in POS after end of the 21M BTC mined ?
A simple question :
After 21M btc mined :
1. Transaction fees will cover the mining cost
2. switch to POS (proof of stake)
3. End of BTC, new coin will born
is it possible to switch in POS after end of the 21M BTC mined ?
1. Yes, but by that time, transaction fees should be enough to cover all the mining costs that a miner faces plus the fact that bitcoin's price is also high, say more than $10,000 a piece.
2. Switching to PoS after all the coins were mined had been part of some considerations for some time now. However, the Proof-of-Work system in which coins are mined is more secured compared to PoS (based on the articles and discussions that I've read before.) For more info, http://wiki.bitshares.org/index.php/POS_vs_POW
3. I don't think that if all the bitcoins in existence are mined and are out, that will be the end of btc because it is assumed that by then, 1 bitcoin will cost a high price compared to where it is sitting right now.
Great answer !!! thanks a lot
I don't know much about BTC, so, please, pardon me ---
A simple question :
After 21M btc mined :
1. Transaction fees will cover the mining cost
2. switch to POS (proof of stake)
3. End of BTC, new coin will born
is it possible to switch in POS after end of the 21M BTC mined ?
A simple question :
After 21M btc mined :
1. Transaction fees will cover the mining cost
2. switch to POS (proof of stake)
3. End of BTC, new coin will born
is it possible to switch in POS after end of the 21M BTC mined ?
1. Yes, but by that time, transaction fees should be enough to cover all the mining costs that a miner faces plus the fact that bitcoin's price is also high, say more than $10,000 a piece.
2. Switching to PoS after all the coins were mined had been part of some considerations for some time now. However, the Proof-of-Work system in which coins are mined is more secured compared to PoS (based on the articles and discussions that I've read before.) For more info, http://wiki.bitshares.org/index.php/POS_vs_POW
3. I don't think that if all the bitcoins in existence are mined and are out, that will be the end of btc because it is assumed that by then, 1 bitcoin will cost a high price compared to where it is sitting right now.
I don't know much about BTC, so, please, pardon me ---
A simple question :
After 21M btc mined :
1. Transaction fees will cover the mining cost
2. switch to POS (proof of stake)
3. End of BTC, new coin will born
is it possible to switch in POS after end of the 21M BTC mined ?
A simple question :
After 21M btc mined :
1. Transaction fees will cover the mining cost
2. switch to POS (proof of stake)
3. End of BTC, new coin will born
is it possible to switch in POS after end of the 21M BTC mined ?
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