Topic: Mining BTC after 21M - page 2. (Read 242 times)

skorupi17

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Quote from: Crytptohack on February 03, 2018, 12:56:26 PM

So it is year 2024 and the max BTC supply is reached at ~21M.

Wrong. We will be there approximately at the year 2140. The bitcoin as block reward or subsidy halves every 4 years that's way it will take much longer than you think.

Quote from: Crytptohack on February 03, 2018, 12:56:26 PM

Will it be economical to continue mining BTC going forward?

Hard to say but someone should've discovered something that would make the production of electricity cheaper. And also someone should've made something significant in making mining more efficient.

Quote from: Crytptohack on February 03, 2018, 12:56:26 PM

Is it possible that the S/W for BTC may be augmented to a semi POS type of system?

Not sure how to answer this but I doubt this will happen.

Crytptohack

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Activity: 126

Merit: 15

HodL!

So it is year 2024 and the max BTC supply is reached at ~21M.

I'll speculate that the price of energy around the world will be higher than it is today, so that will cut into the miners profits. They will also be receiving their BTC on fees alone, not the generation of BTC for completing the block (like today).

Will it be economical to continue mining BTC going forward? The large mining operations can always set up a solar panel system to reduce energy costs.

Even if some of the larger miners shut down, I'm sure there will be enough miners around the world where the blocks will still be completed, but it may take longer. (The mempool may grow like it did before X-mas last year) I'm not exactly sure how the lightning network will affect the mempool....?

Is it possible that the S/W for BTC may be augmented to a semi POS type of system?

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