What Happens When Bitcoin Is Fully Mined? - page 2.

DannyHamilton

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Quote from: Dr. Pepper on June 03, 2014, 12:53:37 PM

I do wonder if the transaction fees will be worth it to the miners or not too expensive for regular users though.

That will depend on factors that are difficult to predict today.

How popular will bitcoin become by then (How many transactions per day will be sent)?
Will the protocol rules for maximum block size be modified? If so, how large will the maximum allowable blocksize be?
What will the electricity to bitcoin exchange rate be?
How high (or low) will the difficulty be?
How efficient will mining equipment be 125 years from now (hashes per kilowatt-hour)?

Dr. Pepper

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I do wonder if the transaction fees will be worth it to the miners or not too expensive for regular users though.

MykelSilver

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See what happened to 42coin: http://42coin.org/
42 coins max...
look what happened to price.... on cryptsy.com you can see its chart.

xdigital

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This is the most frequently asked question

Baitty

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Currently held as collateral by monbux

Quote from: Jaaawsh on June 03, 2014, 12:35:11 PM

I wondered this too, a lot actually. Like how are transactions supposed to confirm? Will people mine just for the sake of confirming transactions, not with the chance of receiving any block reward?

People will still mine just for the transaction fees. it would be the best time to mine but would require a awesome piece of hardware.

Dr. Pepper

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Quote from: Jaaawsh on June 03, 2014, 12:35:11 PM

I wondered this too, a lot actually. Like how are transactions supposed to confirm? Will people mine just for the sake of confirming transactions, not with the chance of receiving any block reward?

Read above. Miners will just get transaction fees.

Jaaawsh

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Check out Fastslots.co !!!!

I wondered this too, a lot actually. Like how are transactions supposed to confirm? Will people mine just for the sake of confirming transactions, not with the chance of receiving any block reward?

Dr. Pepper

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As Danny said fees, but we'll all be dead anyway so it doesnt matter.

Baitty

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Currently held as collateral by monbux

Who ever ownes Bitcoin at that time will be fucking MINTED.

Tron

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Great question.

Every transaction has a small transaction fee. Those fees add up and will be the incentive for miners to continue to secure the network.

DannyHamilton

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Quote from: TheAccountant on June 03, 2014, 12:04:12 PM

Since the block chain is maintained through the mining activity, how will be block chain be maintained after the mining is done? I know that is a long time off, but eventually we will see the end of mining. Will the wallet, exchanges and other services be able to carry the full structure of it?

In the year 2140? After we are all dead?

Mining will continue, but instead of miners receiving the bulk of their income from the block subsidy (essentially paying them with inflation), they will receive their income from transaction fees.

TheAccountant

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Since the block chain is maintained through the mining activity, how will be block chain be maintained after the mining is done? I know that is a long time off, but eventually we will see the end of mining. Will the wallet, exchanges and other services be able to carry the full structure of it?

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