Is mining coming to an end? | Bitcointalksearch.org

clickerz

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Quote from: 7788bitcoin on January 29, 2018, 06:32:10 PM

Quote from: Crypto-watch-Talk on January 28, 2018, 03:39:53 AM

So I know there are still coins getting made that can be mined but compared to how it used to be and how many tokens get made instead of actual blockchain cryptocurrencies that can be mined.

Could it get to the point where mining actual Cryptocurrencies comes to an end?

It is not a big surprise to know that the mining will stop one day when all the coins are mined but it will take a long time,but then after that transaction fees is the perk the miners will be looking for in order for them to continue the process,even if you look now in terms of bitcoin the miners are earning more than a couple of bitcoins as transaction fees with every block.

When the time comes that mining is stop or all coins is mined up, its possible that transaction fee will also go up. But I think developers are anticipating this situation and doing something to solve this situation.

But seems many coins are adopting Proof of Stakes.

Fatunad

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Quote from: olushakes on January 29, 2018, 06:26:41 PM

Quote from: Crypto-watch-Talk on January 28, 2018, 03:39:53 AM

Hey everyone,

So I know there are still coins getting made that can be mined but compared to how it used to be and how many tokens get made instead of actual blockchain cryptocurrencies that can be mined.

Could it get to the point where mining actual Cryptocurrencies comes to an end?

There are still several coins that are still minable and I don't think mining can come to an end because even if a particular coin is fully mined which is what I am yet to see, all of the equipment can be deployed to mine another coin and that is the reason why there was noise at some point that miners are switching to another coins at the expense of btc. With the amount of minable coins coming out on a daily basis, mining will continue to have a space in this crypto world.

There would always be a place for them and as you said there are lots of mine-able coins that do come out and as a miner you would really switch off into a coin which would really make you profit. Jumping out from one coin to another is a common thing for them to do. Talking about from POW to POS theres really a significant change if theres a transition but well i dont really see on the possibility regarding on this one.

7788bitcoin

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Quote from: Crypto-watch-Talk on January 28, 2018, 03:39:53 AM

So I know there are still coins getting made that can be mined but compared to how it used to be and how many tokens get made instead of actual blockchain cryptocurrencies that can be mined.

Could it get to the point where mining actual Cryptocurrencies comes to an end?

It is not a big surprise to know that the mining will stop one day when all the coins are mined but it will take a long time,but then after that transaction fees is the perk the miners will be looking for in order for them to continue the process,even if you look now in terms of bitcoin the miners are earning more than a couple of bitcoins as transaction fees with every block.

olushakes

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Quote from: Crypto-watch-Talk on January 28, 2018, 03:39:53 AM

Hey everyone,

So I know there are still coins getting made that can be mined but compared to how it used to be and how many tokens get made instead of actual blockchain cryptocurrencies that can be mined.

Could it get to the point where mining actual Cryptocurrencies comes to an end?

There are still several coins that are still minable and I don't think mining can come to an end because even if a particular coin is fully mined which is what I am yet to see, all of the equipment can be deployed to mine another coin and that is the reason why there was noise at some point that miners are switching to another coins at the expense of btc. With the amount of minable coins coming out on a daily basis, mining will continue to have a space in this crypto world.

rainbow169

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When more projects are moving to Proof of Stake from Proof of Work, then mining as we know it might be less required. But on the other hand, mining are becoming light weight and far more accessible.

Check out projects like Hadron, which allow you to mine in mobile browser for supporting AI tasks. The mining power spent on Hadron are actually being used on real task rather tying the lottery to solve the hashing problem, therefore much more efficient.

Aura

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I think in an ideal world there is only one proof of work system needed, others can be build upon that. It doesn't have to be necessary build on it, but it can also be a reference of validation like komodo does with delayed proof of work. Cryptocurrencies without proof of work is not an option, as for now. I don't see DAG as a concurrent because it hasn't shown to be immune for 33% attacks.

The One Who Knocks

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Can anyone care to explain how can the mining of BTC end? I mean, isn't mining the sheer process of producing blocks to the blockchain? That won't ever end correct? So why is this talk about BTC being all mined? While I do understand some concepts that are harder to understand than this one, I haven't had the time to search for this answer yet. If someone could care to help me I would be really appreciated!

kram31

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Quote from: Crypto-watch-Talk on January 28, 2018, 03:39:53 AM

Hey everyone,

So I know there are still coins getting made that can be mined but compared to how it used to be and how many tokens get made instead of actual blockchain cryptocurrencies that can be mined.

Could it get to the point where mining actual Cryptocurrencies comes to an end?

I want to end the mining as it is consuming too much energy, this will cost more pollution to earth as we are not using the best way we can have on having energy. but at the other part of my mind also thinks that if miners are gone, will the transaction especially in bitcoin be slower?

iigor

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Mining is very crucial part of cryptocurrency world. As long as we have Bitcoin, we will have miners.

Leyss

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In my opinion, there is no fear that the possibility of mining a digital coin will end. The possibilities here are almost inexhaustible. And the energy in us for crypto currency is enough. In addition, most of all coins in us are not mined as a result of mining, but are issued in the form of tokens as a result of the ICO. Here, the possibilities are even greater, because tokens are used, as a rule, in a narrow sphere of our activity. And there are a lot of spheres of their application.

cherry yu

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i think mining will not coming to and end. as long as bitcoin is there and many legit coin are coming out
mining is still be there. mining is one source of earning money without spending too much time. so bitcoiner that can afford to invest mining are continue to do on mining.
mining are depend on the numbers of miner, so if there is miner mining will not end.

audrey12

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Not quite I believe mining is still profitable at this moment though there are really needs for a good technology for you to gain good profit from mining still I believe this will continue in being one of the profitable activities for people in crypto currency market. There are still lot's of coins that can be mined so I'm sure mining will continue to evolve as well as people who use to do this.

QuitPlayingGames

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Mining will never end. Bitcoin mining will finish after 100+ years and there will be another coin that will come and miners will mine that.

faaty

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This is something we should discuss about in the near future. Mining will continue being an important reality of the cryptocurrency world for a couple of years for sure, but its importance will decrease as time passes. Energy consumption, earning profit for developers and selling most of the coins will be more important issue in my opinion. It will be important and indispensable for some coins such as Bitcoin and Monero, however most of the new coins will come with Proof of Stake algorithm, or some other new concepts

sorrowfulnightcries

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Quote from: Crypto-watch-Talk on January 28, 2018, 03:39:53 AM

Hey everyone,

So I know there are still coins getting made that can be mined but compared to how it used to be and how many tokens get made instead of actual blockchain cryptocurrencies that can be mined.

Could it get to the point where mining actual Cryptocurrencies comes to an end?

I don't think so, right now I see mining community in cryptocurrency for just undergoing transitions since bitcoin mining is not very efficient now a days and requires a hefty sum of money to build a rig that can efficiently mine bitcoin miners and rigs alike have adapted into mining other possible and profitable altcoins which I think will continue to adapt whenever they face new challenges against mining cryptocurrencies.

Vik_the_Carpentner

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I heard the news that in some countries the distributors are allowing to buy only two videocards for each man but I can't still get a point how does they track that?

Vivisector999

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The true answer is No it will never "end".

Now can the constant state of people constantly buying more and more miners and have them make money continue. No. Mining is pretty much big business now, which is what the original idea was against. But as mining becomes less profitable, and more people stop mining, the difficulty drops, meaning more profitability for the people remaining, which then brings in more people again. Its cyclical.

bering

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people always be figure out which way the most profitable to earn money from crypto and apparently mining isn't their primary options again because electricity cost is too expensive moreover in my view rather than investing their funds at mining tools then investing their money at ICO project is more good because you not necessary to buy expensive mining tools

daglordjames

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i think there's a end of mining but we dont know when is the end of the mining and maybe it's going to end because it takes alot of energy.

jefbigbob70

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The price of new video cards is constantly increasing, this indicates a high demand for them. Every day, several crypto currencies appear, using video cards to confirm production. More and more practical applications of the unit require more crypto currency.

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