Will mining pools exist after 2100? - page 3.

RapTarX

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If bitcoin exists until then, bitcoin mining pool will be stopped. The chance of running is too low; unless BTC reaches a tremendous high price.

Quote from: BlackHatCoiner on July 15, 2020, 03:15:48 PM

I don't know exactly how many satoshis will be generated on every block after 2100 but I know they will be very few. Imagine splitting 1 satoshi.

In LN, it can be split I guess; it's possible to split. Not a big deal at all.

Quote from: GazetaBitcoin on July 15, 2020, 03:48:56 PM

This problem has been discussed in the past. For example, in this topic: Can bitcoin be divided beyond satoshis?.

Both are different discussion seems like.That one was for dividing small units of bitcoin. While here OO is looking for what will happen to mining pool when the reward will be low although OP have added the dividing issue in the later part.

Wenbing

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There is gold in volatility..

Quote from: BlackHatCoiner on July 15, 2020, 03:15:48 PM

On mining pools all miners get rewarded with the analogous CPU they have used.

I don't know exactly how many satoshis will be generated on every block after 2100 but I know they will be very few. Imagine splitting 1 satoshi. How? Will the bitcoin community create the nakamotos?

1 satoshi = 1000 nakamotos for example. Too dumb question, tho, since we can't know a damn thing about that era. Some say that life will end after 2100 due to loss of natural supplies.

Well, 2100 is such a long term period that we should not forcast what may happened then. this is why Lord Maynard Keynes said that we should do everything possible in the short-run to solve a problem because in the long run we are all dead.

Here is it, when the halving ends, miners who are maintaining the blockchain will be rewarded by the transaction fees. so, i believe miners will keep on mining. Secondly, there will be innovations when the time comes.

GazetaBitcoin

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Fully-fledged Merit Cycler|Spambuster'23|Pie Baker

This problem has been discussed in the past. For example, in this topic: Can bitcoin be divided beyond satoshis?.

This answer is just a possible suggestion:

Quote from: Lauda on April 28, 2016, 03:15:24 AM

Currently you are not able to divide it beyond as satoshi is the smallest introduced unit. However, if it ever becomes needed, additional units could be added that are smaller than a single satoshi (e.g. 1 000 000 Laudas = 1 Satoshi). I don't think that it will come to that though.

MFahad

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Eloncoin.org - Mars, here we come!

Quote from: BlackHatCoiner on July 15, 2020, 03:15:48 PM

On mining pools all miners get rewarded with the analogous CPU they have used.

I don't know exactly how many satoshis will be generated on every block after 2100 but I know they will be very few. Imagine splitting 1 satoshi. How? Will the bitcoin community create the nakamotos?

1 satoshi = 1000 nakamotos for example. Too dumb question, tho, since we can't know a damn thing about that era. Some say that life will end after 2100 due to loss of natural supplies.

Well, no one here will be able to see what will happen in 2100 or how many satoshi will be generated on blocks in 2100. There is no grantee that bitcoin will survive by that time and people may not have shifted to some other more better way for performing transactions. Also, even if the life exists after 2100, our life's will be end already.

BlackHatCoiner

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Farewell, Leo

On mining pools all miners get rewarded with the analogous CPU they have used.

I don't know exactly how many satoshis will be generated on every block after 2100 but I know they will be very few. Imagine splitting 1 satoshi. How? Will the bitcoin community create the nakamotos?

1 satoshi = 1000 nakamotos for example. Too dumb question, tho, since we can't know a damn thing about that era. Some say that life will end after 2100 due to loss of natural supplies.

Topic: Will mining pools exist after 2100? - page 3. (Read 487 times)