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Topic: What will happen when all of the blocks have been generated? (Read 1293 times)

full member
Activity: 175
Merit: 101
transaction fees are a good enough incentive for the miners

Does that mean transaction costs will become 25 BTC after drop of block profit from 50 to 25 ?


I think they will probably still be very close to zero, because by then, if bitcoins are still around, 25BTC will be worth much more than 50 today, and we don't lack miners Smiley
administrator
Activity: 5222
Merit: 13032
Does that mean transaction costs will become 25 BTC after drop of block profit from 50 to 25 ?

There are many transactions per block, so the fee per transaction can be low. The total block reward might also be reduced from 50 BTC, in which case the total computational power of the network will likely decrease.
legendary
Activity: 980
Merit: 1020
transaction fees are a good enough incentive for the miners

Does that mean transaction costs will become 25 BTC after drop of block profit from 50 to 25 ?


No.
newbie
Activity: 42
Merit: 0
transaction fees are a good enough incentive for the miners

Does that mean transaction costs will become 25 BTC after drop of block profit from 50 to 25 ?
sr. member
Activity: 406
Merit: 256
We'll never run out of blocks.

The reward for generating a block, however, will drop to 0 in a very long time. By then, transaction fees are a good enough incentive for the miners.
newbie
Activity: 35
Merit: 0
In my understanding to confirm a transaction, it must go into the next block. Whenever we run out of blocks, how will we confirm transactions?
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