what happen with bitcoin after not mineable?

davis196

hero member

Activity: 3150

Merit: 937

Quote from: crossabdd on October 11, 2016, 11:29:50 PM

what happen with bitcoin after not mineable?
miner will stop his mining activity ? then how to make bitcoin network strongest ?
and how about the price of bitcoin ?

I don`t know who is going to confirm all the transactions after miners stop mining?

I`m not tech savvy and i don`t understand the blockchain completely. Grin

The bitcoin price can only increase after the mining stops.

sportis

sr. member

Activity: 406

Merit: 252

Veni, Vidi, Vici

I believe that miners after some years will have only two options if they want their mining rigs are profitable. First option is mining alt coins because after some halves bitcoin will not give profit any more. If they mine other coins they can sell it in exchange markets. Second one is transaction fees and maybe will be raised to cover their functional costs.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: Positid on December 08, 2016, 01:21:20 AM

Quote from: RealPhotoshoper on December 08, 2016, 12:11:25 AM

Quote from: QuestionAuthority on November 30, 2016, 05:17:05 PM

Quote from: RajaJudi on November 30, 2016, 05:12:13 PM

If bitcoin is not mineable, I think Bitcoin will be worthless and people will not use Bitcoin anymore. This the main different between Bitcoin and FIAT. And, people definitely choose FIAT instead of Bitcoin if they can not mine Bitcoin anymore. Bitcoin price will drop to less than $1

That's not really true. It just means transaction fees need to be a lot higher or there needs to be a hell of a lot more people using Bitcoin daily.

really smells like speculation everywhere.
just take a look to stellar or ripple , both is not mineable since first time invented.
but until now a lot of people still interested and using it , so don't worry about bitcoin too , noone know what will happens actually.

That will happen in a longer period from now but I believe whatever that price that time will not be affected negatively, bitcoin is slowly making a progress and that is because we trusted and patronize it, I believe when the supply is already intact we it will increase the price as the demand increases.

Correct,it will not affect bitcoins price negatively even though all coins are already mined or not mineable. As you mentioned progress will still continue and also its adoption which means if theres already a fixed amount of bitcoins then the demand arises then for sure the price will rise up eventually.

Positid

sr. member

Activity: 378

Merit: 250

BULL RUN until 2030

Quote from: RealPhotoshoper on December 08, 2016, 12:11:25 AM

Quote from: QuestionAuthority on November 30, 2016, 05:17:05 PM

Quote from: RajaJudi on November 30, 2016, 05:12:13 PM

If bitcoin is not mineable, I think Bitcoin will be worthless and people will not use Bitcoin anymore. This the main different between Bitcoin and FIAT. And, people definitely choose FIAT instead of Bitcoin if they can not mine Bitcoin anymore. Bitcoin price will drop to less than $1

That's not really true. It just means transaction fees need to be a lot higher or there needs to be a hell of a lot more people using Bitcoin daily.

really smells like speculation everywhere.
just take a look to stellar or ripple , both is not mineable since first time invented.
but until now a lot of people still interested and using it , so don't worry about bitcoin too , noone know what will happens actually.

That will happen in a longer period from now but I believe whatever that price that time will not be affected negatively, bitcoin is slowly making a progress and that is because we trusted and patronize it, I believe when the supply is already intact we it will increase the price as the demand increases.

RealPhotoshoper

legendary

Activity: 1050

Merit: 1001

Quote from: QuestionAuthority on November 30, 2016, 05:17:05 PM

Quote from: RajaJudi on November 30, 2016, 05:12:13 PM

If bitcoin is not mineable, I think Bitcoin will be worthless and people will not use Bitcoin anymore. This the main different between Bitcoin and FIAT. And, people definitely choose FIAT instead of Bitcoin if they can not mine Bitcoin anymore. Bitcoin price will drop to less than $1

That's not really true. It just means transaction fees need to be a lot higher or there needs to be a hell of a lot more people using Bitcoin daily.

really smells like speculation everywhere.
just take a look to stellar or ripple , both is not mineable since first time invented.
but until now a lot of people still interested and using it , so don't worry about bitcoin too , noone know what will happens actually.

triasel

sr. member

Activity: 672

Merit: 250

Quote from: crossabdd on October 11, 2016, 11:29:50 PM

what happen with bitcoin after not mineable?
miner will stop his mining activity ? then how to make bitcoin network strongest ?
and how about the price of bitcoin ?

price of bitcoin ? price bitcoin be affected from bitcoin users .
i think if there is not use bitcoin so price bitcoin will down!

tee-rex

hero member

Activity: 742

Merit: 526

Quote from: BitFinnese on November 29, 2016, 04:59:51 AM

Quote from: btcdiggingmaster on November 29, 2016, 04:01:32 AM

The same question i have in mind, but after learning people reviews i came to know that the value of bitcoin price is really high, after not mine able there will be a huge demand for bitcoin because of very low transaction fee. But now who are talking here may not live that many years how it is going to be in near future.

More probably, when bitcoin is not mineable and bitcoin price is very high, the transaction fee will be high, higher than any processing fee fiat money had. Just imagine high high will the transaction fee be if miner are contented to mine transaction fee. We may not see it today but just looking forward will make you think about it. Unless there is really some tweak or adjustment in bitcoin transaction fee.

That shouldn't happen if the block size will increase in the future because more transactions can be included in one block, and the fees may go down a bit. Anyways, if the fees will be very high, no one will be interested in transacting with Bitcoin any more, and its price will go down, together with the fees.

Rinder

hero member

Activity: 868

Merit: 500

Well when the reward achieve the 3 btc for each block btc should be worthing something like 1600- 22000 dollars, and just to note that at 2013 the price were something like 300-500 dollars being traded i do believe, someone had pumped bitcoin above the 1000 dollars, those period its a lesson to never forget at crypto world. But to take those into consideration to the miners makes no sense. Last year bitcoin were worthing 250-300 dollars, soo he block reward were 7000-9000 dollars, nowadays its worthing something like 9000 dollars.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: RajaJudi on November 30, 2016, 05:12:13 PM

If bitcoin is not mineable, I think Bitcoin will be worthless and people will not use Bitcoin anymore. This the main different between Bitcoin and FIAT. And, people definitely choose FIAT instead of Bitcoin if they can not mine Bitcoin anymore. Bitcoin price will drop to less than $1

That's not really true. It just means transaction fees need to be a lot higher or there needs to be a hell of a lot more people using Bitcoin daily.

RajaJudi

sr. member

Activity: 403

Merit: 250

Less is more

If bitcoin is not mineable, I think Bitcoin will be worthless and people will not use Bitcoin anymore. This the main different between Bitcoin and FIAT. And, people definitely choose FIAT instead of Bitcoin if they can not mine Bitcoin anymore. Bitcoin price will drop to less than $1

mrcash02

hero member

Activity: 1190

Merit: 525

CryptoTalk.Org - Get Paid for every Post!

Quote from: btcdiggingmaster on November 29, 2016, 04:01:32 AM

The same question i have in mind, but after learning people reviews i came to know that the value of bitcoin price is really high, after not mine able there will be a huge demand for bitcoin because of very low transaction fee. But now who are talking here may not live that many years how it is going to be in near future.

Until this happen, there is a long time yet, a lot of years and decades, more than one century! All we can say about it is speculation, it's too much time to predict something about, it's like when movies try to portray the future. I believe the BTC price (if consolided as main currency) will go up, and a lot. We could negociate few satoshis worthing the equivalent to $1 dollar or a bit more.

If the BTC will be successful, that is what will happen. But maybe, another crypto-currency can take the place of BTC and become more important. Only time will tell.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Interesting that people are worried about what happens to Bitcoin 100 years from now. Before we worry about that, let's see the next two block reward drops happen. If Bitcoin survives the next 8 years when the block reward is 3btc.

The end of 2013 beginning of 2014 Bitcoin was valued over $1,000 and the block reward was 25btc. That's over $25,000 to share between the miners per block. Most of the large farms started to form at this point. The per coin price has never returned to that value but let's assume it will return to $1,000 before the block reward hits 3btc. That means all the miners together will share $3,000. In order for Bitcoin to be as profitable to mine in seven years as it was in 2014 the per coin price plus transaction fees need to be more than $8,300 and that's with no inflation and no costs for replacing equipment.

If we make it past the next seven to eight years then 100 years will be easy.

deadpoolx

hero member

Activity: 560

Merit: 500

Quote from: olubams on November 29, 2016, 05:09:13 AM

Its the simplest thing. It means that the price of Bitcoin will increase because the popularity would have increased more than what we have now, which means a lot of people will be involved which means it will not be enough and the forces of demand and supply will push the price up which might not be attainable. Also there will be the risk of losing the popularity as a result of the increase and other currency might fill the space.

The price may increase, in fact. When that time comes, Bitcoin will probably have a greater acceptance in the market, and a much larger number of users. But this depends on the stability of the network, that is, if developers manage to keep the network functional and able to scale without major problems, this will certainly make Bitcoin gain the confidence of users.

Shenzou

sr. member

Activity: 1400

Merit: 283

Once bitcoin becomes not mine able its price will rise very significantly and it will become a rare thing for someone to use bitcoin on the internet and than it will disappear

Kevin77

legendary

Activity: 1652

Merit: 1057

Quote from: crairezx20 on November 30, 2016, 12:11:42 PM

Quote from: Selly Arumsari on November 30, 2016, 11:52:31 AM

Quote from: crossabdd on October 11, 2016, 11:29:50 PM

what happen with bitcoin after not mineable?
miner will stop his mining activity ? then how to make bitcoin network strongest ?
and how about the price of bitcoin ?

if not mineable so price of bitcoin go down because users bitcoin affect for bitcoin price too
but i feel users bitcoin will not leave bitcoin , because bitcoin is their income

I think the price of bitcoin will be stable since bitcoin blocks is not mineable because of many people are mining bitcoin and the circulation of bitcoin was stop because there is no bitcoin can be mine maybe the price of bitcoin can be stable because we are still using bitcoin.. the value of bitcoin will be decrease if many investors are convert to fiat because they are just waiting for price increase of bitcoin we are relaying in demand and supply but we have no supply and our supply only is from exchange site..

Also the mineable thing goes until 2100+ , which means that we have about 80+ years to that , if everything goes right miners will get a higher fee of bitcoin which means they will keep mining not to mine bitcoin out but to get miners fee which will compansate the difference.

crairezx20

legendary

Activity: 1638

Merit: 1046

Quote from: Selly Arumsari on November 30, 2016, 11:52:31 AM

Quote from: crossabdd on October 11, 2016, 11:29:50 PM

what happen with bitcoin after not mineable?
miner will stop his mining activity ? then how to make bitcoin network strongest ?
and how about the price of bitcoin ?

if not mineable so price of bitcoin go down because users bitcoin affect for bitcoin price too
but i feel users bitcoin will not leave bitcoin , because bitcoin is their income

I think the price of bitcoin will be stable since bitcoin blocks is not mineable because of many people are mining bitcoin and the circulation of bitcoin was stop because there is no bitcoin can be mine maybe the price of bitcoin can be stable because we are still using bitcoin.. the value of bitcoin will be decrease if many investors are convert to fiat because they are just waiting for price increase of bitcoin we are relaying in demand and supply but we have no supply and our supply only is from exchange site..

Selly Arumsari

sr. member

Activity: 602

Merit: 250

Quote from: crossabdd on October 11, 2016, 11:29:50 PM

what happen with bitcoin after not mineable?
miner will stop his mining activity ? then how to make bitcoin network strongest ?
and how about the price of bitcoin ?

if not mineable so price of bitcoin go down because users bitcoin affect for bitcoin price too
but i feel users bitcoin will not leave bitcoin , because bitcoin is their income

Xester

hero member

Activity: 994

Merit: 544

Quote from: olubams on November 29, 2016, 05:09:13 AM

Its the simplest thing. It means that the price of Bitcoin will increase because the popularity would have increased more than what we have now, which means a lot of people will be involved which means it will not be enough and the forces of demand and supply will push the price up which might not be attainable. Also there will be the risk of losing the popularity as a result of the increase and other currency might fill the space.

Its the other way around. When we say mining it is not creating more bitcoins but instead it is solving hash algorithms and placing it on a ledger on a blockchain so a transaction can occur. Without mining or staking, we are referring to bitcoin, then the transactions on bitcoin activities will be very slow or possibly no more occurring transactions to take place since there will be no confirmations on the blockchain. This will mean without miners there will be no blockchain and transactions on bitcoin could not be safe anymore which may lead to investors leaving out bitcoin due to its poor security features.

olubams

hero member

Activity: 798

Merit: 503

Its the simplest thing. It means that the price of Bitcoin will increase because the popularity would have increased more than what we have now, which means a lot of people will be involved which means it will not be enough and the forces of demand and supply will push the price up which might not be attainable. Also there will be the risk of losing the popularity as a result of the increase and other currency might fill the space.

BitFinnese

copper member

Activity: 1050

Merit: 500

Quote from: btcdiggingmaster on November 29, 2016, 04:01:32 AM

The same question i have in mind, but after learning people reviews i came to know that the value of bitcoin price is really high, after not mine able there will be a huge demand for bitcoin because of very low transaction fee. But now who are talking here may not live that many years how it is going to be in near future.

More probably, when bitcoin is not mineable and bitcoin price is very high, the transaction fee will be high, higher than any processing fee fiat money had. Just imagine high high will the transaction fee be if miner are contented to mine transaction fee. We may not see it today but just looking forward will make you think about it. Unless there is really some tweak or adjustment in bitcoin transaction fee.

Topic: what happen with bitcoin after not mineable? (Read 5696 times)