Would it be possible to fork the block chain so that everyone can mine like the good old days and still make money
Say miners gets paid from tx fees, and amount of transaction a miner can confirm = computing power , there will still be big mining farms but at least everyone can earn from that.
I think it is really important to recreate a system where everyone can mine, a bit like maidsafe concept where everyone can store data and be rewarded safecoin , i think this is much more powerfull so the question is can a code modification do that?
Topic: Why Bitcoin? - page 2. (Read 1615 times)
That happens after year 2100. Still a long way to go. I think we will be using a completely different crypto before that happens.
I doubt that . But even if all coins do get mined, miners would still be paid from the txin fees.
The fees actually might be upped a bit if that ever happens.
I think the real mining will "die" after the ~2032, because the block reward will be less than | < 1 BTC |. How much do you think the fee will be ?
Source : https://en.bitcoin.it/wiki/Controlled_supply#Projected_Bitcoins_Long_Term
Not only fees, but mass adoption too.
If the amount of people using Bitcoin in ~2100 would be the same as today, mining would die and the whole network would aswell.
If the amount of people using Bitcoin in ~2100 would be the same as today, mining would die and the whole network would aswell.
The miners will get their fees from the transaction at that time
That happens after year 2100. Still a long way to go. I think we will be using a completely different crypto before that happens.
The block reward will seize to exist at some point in time.
What could be used as a further incentive to mine?
What could be used as a further incentive to mine?
Fees[1].
[1] https://bitcoin.org/bitcoin.pdf
The block reward will seize to exist at some point in time.
What could be used as a further incentive to mine?
What could be used as a further incentive to mine?
Jump to: