what happen with bitcoin after not mineable? - page 7.

Noctis Connor

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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 no one cna mine bitcoin and bitcoin stop mining activity i think the price will increase because no one can earn bitcoin if that happens and it will remain on the trading sites that bitcoin will be more strongest currency ofcourse. and the price will be more expensive.

franky1

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mining will continue.
the reward ends in the year ~2140,
giving over 120 years for the ratio of reward:txfee to flip where the txfee becomes the dominant income

its something we should not be pushing for today, as i said we have 120 years for a natural growth and slow flip of the ratio.
the fee's will eventually keep miners having a happy income

bitbunnny

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The number of Bitcoins is limited, as far as I know, so after this number is achieved the mining will stop. But that doesn't mean that Bitcoin will be dead or that transactions will not be possible anymore like some here have said. But demand should bew very high by then so this could affect the price in great deal.

Labumi

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I think it will never happen, but it's just that the miners did it only a small part. because of the nature of mining into the main Foundation in any transaction which is in bitcoin, so if the mining stopped then the bitcoin will not strong and finally experienced the devastation

rinhunter

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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 think transaction will stopped and we can't send or receive bitcoin, because the miner is an important role in the Bitcoin Network.

Quote from: www.bitcoinmining.com

Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.

Senor.Bla

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Quote from: buxlover on October 12, 2016, 02:43:00 AM

Quote from: wikenpp on October 12, 2016, 02:29:28 AM

Quote from: shinratensei_ on October 11, 2016, 11:39:20 PM

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 ?

The volume of bitcoin will be a limit and I think caused by that, bitcoin is can be a rare coin, that's will make the price of bitcoin is so high.

Then the users who used to mine have to stop mining at that moment because if will not make them a profit anymore so it does not make sense for them to keep mining. They then have to find a other way to keep making Bitcoin.
They just have to invest money in to and hold trade and save.

If all miners stop mining Bitcoin, probably Bitcoin is dead, there will be no way to invest, trade or buy Bitcoin.
We can't send Bitcoin to anyone or vice versa. But that situation may happen in far future if price of Bitcoin dropped low, else miners will be profitable to just receive mining fee as block reward.
The limit of Bitcoin circulation is what made Bitcoin price so high now, but that may lead to end of Bitcoin in future

If all miners stop mining Bitcoin, then i will start. and many other who think like i do. also what will happen is that because of only a few miners it will take longer to process the transactions. we all know what that means. people who want their transaction thru fast will pay more fees. so eventually everything will balance itself out. like always.

buxlover

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Quote from: wikenpp on October 12, 2016, 02:29:28 AM

Quote from: shinratensei_ on October 11, 2016, 11:39:20 PM

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 ?

The volume of bitcoin will be a limit and I think caused by that, bitcoin is can be a rare coin, that's will make the price of bitcoin is so high.

Then the users who used to mine have to stop mining at that moment because if will not make them a profit anymore so it does not make sense for them to keep mining. They then have to find a other way to keep making Bitcoin.
They just have to invest money in to and hold trade and save.

If all miners stop mining Bitcoin, probably Bitcoin is dead, there will be no way to invest, trade or buy Bitcoin.
We can't send Bitcoin to anyone or vice versa. But that situation may happen in far future if price of Bitcoin dropped low, else miners will be profitable to just receive mining fee as block reward.
The limit of Bitcoin circulation is what made Bitcoin price so high now, but that may lead to end of Bitcoin in future

ObscureBean

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At this point it's not really possible to predict how things will play out after all Bitcoins have been mined, 100+ years is a long time. Most of us who are here right now will probably be dead by then anyways (except for those who choose the cyborg route). 100 years from now, it is well possible that mining equipment will be dirt cheap and extremely power efficient. People won't feel compelled to buy the biggest and baddest miners because there won't be any Bitcoins to mine anyways. So anyone could run a small miner at negligible costs, collect some small transaction fees and help the network in the process.

wikenpp

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Quote from: shinratensei_ on October 11, 2016, 11:39:20 PM

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 ?

The volume of bitcoin will be a limit and I think caused by that, bitcoin is can be a rare coin, that's will make the price of bitcoin is so high.

Then the users who used to mine have to stop mining at that moment because if will not make them a profit anymore so it does not make sense for them to keep mining. They then have to find a other way to keep making Bitcoin.
They just have to invest money in to and hold trade and save.

TastyChillySauce00

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bitcoin will never not mineable because mining is actually solving block to get some transaction confirmed and if this activity just being stopped,bitcoin will be doomed ( correct me if i'm wrong ),and also even there's 21M bitcoin limit just reached miners will get reward from the fees and it will be like a circulation

Soros Shorts

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Quote from: crossabdd on October 11, 2016, 11:56:34 PM

Quote from: Yakamoto on October 11, 2016, 11:50:48 PM

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 ?

Assuming you're referring to what happens once all the 21m Bitcoin are effectively mined, what'll happen is we're going to see fees potentially go up to replace the block rewards, and the price of Bitcoin will more than likely work its way up along with the decrease in the amount of mineable Bitcoin as time wears on.

That's something like 100 years away though, if I remember the date correctly.

the fee of bitcoin transaction is very small. im not sure it's profitable.
if miner get profitable with "fee of bitcoin transaction" the seller and buyer will get loss in "higher fee" in bitcoin transaction Huh

The number of miners will drop to the point that the fees can be divided profitably amongst the remaining miners. This could potentially make the network insecure. However if that were to happen then I'd expect large stakeholders of BTC would start mining for a small loss in order to help protect the integrity of the network.

Herbert2020

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Quote from: Kakmakr on October 12, 2016, 01:19:13 AM

Quote from: Gimpeline on October 12, 2016, 12:43:31 AM

Quote from: avikz on October 12, 2016, 12:16:51 AM

I think bitcoin will be mine-able till 2023. So after that the mining will be stopped and miners those who have already bought expensive rigs, will move to a different coin to make us of that rigs.

But then bitcoin will become a very rare and expensive coin. We can see a manifold jump in price after the last mined coin. I believe there are many people who are earning and storing bitcoin for that d-day only. I am one of them.

Don't know where you have 2033 from but it's complitly wrong.
The last bitcoin will be mined in around 2140, after that miners mine for the fees.

Well, we hope that the transactions will increase enough for the miners fee to be enough to cover the loss of the miners rewards. This can only work, if adoption grows and transactions increase relative to the miners rewards. These fees must still be enough for the miners to make a profit, and based on current estimates the break even point now between making a profit or making a loss, would be about $200 per Bitcoin. < very broad estimate, not applicable to everyone >

So there is a backup plan, but it is still unclear if the adoption will grow enough to generate enough miners fees to replace the block rewards in the furture. ^hmmmm^

whenever there is a talk about mining and the future, fees, price,. ... you should also factor in things like new equipment that are running more efficiently and have a higher power and maybe even consume less power!

for example ASIC miners didn't exist the beginning, or you can even consider computer advancement like how GPUs have become so much more powerful. so obviously in a couple of years in the future we are not going to be mining with the same equipment!

Kakmakr

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Quote from: Gimpeline on October 12, 2016, 12:43:31 AM

Quote from: avikz on October 12, 2016, 12:16:51 AM

I think bitcoin will be mine-able till 2023. So after that the mining will be stopped and miners those who have already bought expensive rigs, will move to a different coin to make us of that rigs.

But then bitcoin will become a very rare and expensive coin. We can see a manifold jump in price after the last mined coin. I believe there are many people who are earning and storing bitcoin for that d-day only. I am one of them.

Don't know where you have 2033 from but it's complitly wrong.
The last bitcoin will be mined in around 2140, after that miners mine for the fees.

Well, we hope that the transactions will increase enough for the miners fee to be enough to cover the loss of the miners rewards. This can only work, if adoption grows and transactions increase relative to the miners rewards. These fees must still be enough for the miners to make a profit, and based on current estimates the break even point now between making a profit or making a loss, would be about $200 per Bitcoin. < very broad estimate, not applicable to everyone >

So there is a backup plan, but it is still unclear if the adoption will grow enough to generate enough miners fees to replace the block rewards in the furture. ^hmmmm^

Gimpeline

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Quote from: avikz on October 12, 2016, 12:16:51 AM

I think bitcoin will be mine-able till 2023. So after that the mining will be stopped and miners those who have already bought expensive rigs, will move to a different coin to make us of that rigs.

But then bitcoin will become a very rare and expensive coin. We can see a manifold jump in price after the last mined coin. I believe there are many people who are earning and storing bitcoin for that d-day only. I am one of them.

Don't know where you have 2033 from but it's complitly wrong.
The last bitcoin will be mined in around 2140, after that miners mine for the fees.

MingLee

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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 ?

Chances are the miners will opt to survive basically on the fees from users alone, and this can take multiple forms such as higher fees for a small amount of users or lower fees for a larger amount of users. Effectively this means that with current user counts we could see $1 fees for a transaction, or with a larger amount of users we could see fees around the same as we have now. It depends.

avikz

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I think bitcoin will be mine-able till 2023. So after that the mining will be stopped and miners those who have already bought expensive rigs, will move to a different coin to make us of that rigs.

But then bitcoin will become a very rare and expensive coin. We can see a manifold jump in price after the last mined coin. I believe there are many people who are earning and storing bitcoin for that d-day only. I am one of them.

crossabdd

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Quote from: Yakamoto on October 11, 2016, 11:50:48 PM

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 ?

Assuming you're referring to what happens once all the 21m Bitcoin are effectively mined, what'll happen is we're going to see fees potentially go up to replace the block rewards, and the price of Bitcoin will more than likely work its way up along with the decrease in the amount of mineable Bitcoin as time wears on.

That's something like 100 years away though, if I remember the date correctly.

the fee of bitcoin transaction is very small. im not sure it's profitable.
if miner get profitable with "fee of bitcoin transaction" the seller and buyer will get loss in "higher fee" in bitcoin transaction Huh

Yakamoto

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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 ?

Assuming you're referring to what happens once all the 21m Bitcoin are effectively mined, what'll happen is we're going to see fees potentially go up to replace the block rewards, and the price of Bitcoin will more than likely work its way up along with the decrease in the amount of mineable Bitcoin as time wears on.

That's something like 100 years away though, if I remember the date correctly.

shinratensei_

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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 ?

The volume of bitcoin will be a limit and I think caused by that, bitcoin is can be a rare coin, that's will make the price of bitcoin is so high.

crossabdd

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Merit: 1145

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 ?

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