Will mining will ever stop ? | Bitcointalksearch.org

Trimegistus

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Quote from: aligator2017 on November 02, 2018, 03:49:42 PM

Quote from: Utyg on November 02, 2018, 03:36:10 PM

Mining cryptocurrency now only stop when the earth will not have at least two computers that can confirm the transfer. Cryptocurrency is the future. Soon to be profession to invent. We live at the beginning of the cryptocurrency age.

Cryptocurrency can exist without miners. It is just the algo. Coins can switch to PoS or DPoS if required. So miners will be forever in Bitcoin only(I guess algorithm will not being changed), got paid for work with transaction fees, others may switch to another ecologically friendly algo imo

Long term solution for crypto has to be environmentally sustainable so PoW mining will end in a couple years as major crypto assets move to PoS based consensus mechanisms.

brixbounty

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The question is certainly interesting, but given the time it will take to mine all the coins, most of us will not live up to this time. But nevertheless, the coins will remain in circulation and in the same way as now will benefit.

aligator2017

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Quote from: Utyg on November 02, 2018, 03:36:10 PM

Mining cryptocurrency now only stop when the earth will not have at least two computers that can confirm the transfer. Cryptocurrency is the future. Soon to be profession to invent. We live at the beginning of the cryptocurrency age.

Cryptocurrency can exist without miners. It is just the algo. Coins can switch to PoS or DPoS if required. So miners will be forever in Bitcoin only(I guess algorithm will not being changed), got paid for work with transaction fees, others may switch to another ecologically friendly algo imo

Mishgan27

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1. It is possible hypothetically under the condition of complete absence of Internet and electricity. other reasons for termination of mining I do not see.
2. I have also thought about it recently, but in any case the coin will be traded on the market, so the value will be maintained. But then, I don't know.

erox

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When all coins are mined that "mining" will support the network and pay miners a fee from transactions. By the way, now the main income of miners is not finding a "block" but a Commission.

Mahanton

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Quote from: ivanst776 on October 29, 2018, 04:35:59 AM

Quote from: Markperop on October 22, 2018, 03:38:58 PM

Quote from: ned.ryerson on October 22, 2018, 03:18:07 PM

Perhaps in the future when all bitcoin mining will stop , but then there will be other coins that will mine and so will continue throughout the time.

Today there is an interest in trading the letter B Bitcoin is precisely about uneven prices. When the price fluctuates, then there is the possibility of earning a difference in price, and also there is an opportunity to get a good income with long-term storage of the coin. But when it is over, there may be stability, which many users will not like.

Mining, a good way to make money in early times, and a waste of money, energy after few years.
Remember those who have mined when the BTC price was $300 and compare those who mine today, a lot of difference, a lot of profit at that time and less profit now.

The situation might be happened again if BTC price will hit up on new ATH's, no one really knows that's why there are still lots of miners hoping the same thing and in fact
we need miners to push up transactions and If they completely shutdown then I don't know on how transactions would be broadcasted and pushed to the network for it to confirmed.
That's why I don't see a reason why It would have to be stopped.

Oltort

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Quote from: Utyg on November 02, 2018, 03:36:10 PM

Mining cryptocurrency now only stop when the earth will not have at least two computers that can confirm the transfer. Cryptocurrency is the future. Soon to be profession to invent. We live at the beginning of the cryptocurrency age.

The coins could work if it were in paper form as well. If the total coins are mined then the people mining the coins will get paid to help the Network.e.

Utyg

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Mining cryptocurrency now only stop when the earth will not have at least two computers that can confirm the transfer. Cryptocurrency is the future. Soon to be profession to invent. We live at the beginning of the cryptocurrency age.

Thefrolly

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Quote from: audifragos on January 09, 2018, 06:36:07 AM

Hello people, i'm new in the crypto worlds , i have two questions please i need logic answers .

1 - will mining will ever stop Huh

?

2 - what will happens when the cryptocurrency reaches it limits ( example : bitcoin 21M , ETH .... , and other curriencies ) ? will they win money after the currencies reaches its limits ?

thank you !

No not yet, there is still a lot that the mining does for the industry and without all of the power that is being provided by the miners then there is no way that the networks will remain running. Until they move to a better way for the coins to be transacted and confirmed on their various networks then miners are always going to be important

ivanst776

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Quote from: Markperop on October 22, 2018, 03:38:58 PM

Quote from: ned.ryerson on October 22, 2018, 03:18:07 PM

Perhaps in the future when all bitcoin mining will stop , but then there will be other coins that will mine and so will continue throughout the time.

Today there is an interest in trading the letter B Bitcoin is precisely about uneven prices. When the price fluctuates, then there is the possibility of earning a difference in price, and also there is an opportunity to get a good income with long-term storage of the coin. But when it is over, there may be stability, which many users will not like.

Mining, a good way to make money in early times, and a waste of money, energy after few years.
Remember those who have mined when the BTC price was $300 and compare those who mine today, a lot of difference, a lot of profit at that time and less profit now.

MinedTangerine

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For now its the best we have. But in the future I would like to see Proof of userfull work mingled with PoS. That we be best probably.

Nivelir

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To be honest, I can’t imagine that the market will ever stop, because I can’t imagine the situation, how the POW protocol without mining will work, I think that as long as there is POW mining will live.

panosdada

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I look forward to the end of Ethereum mining. Since this event will greatly affect the price. But this will not happen soon.

other_side

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Yeah, there will be other coins born. If demand from the market remains, and the POW are potential, it can always attract more miner.

Markperop

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Quote from: ned.ryerson on October 22, 2018, 03:18:07 PM

Perhaps in the future when all bitcoin mining will stop , but then there will be other coins that will mine and so will continue throughout the time.

Today there is an interest in trading the letter B Bitcoin is precisely about uneven prices. When the price fluctuates, then there is the possibility of earning a difference in price, and also there is an opportunity to get a good income with long-term storage of the coin. But when it is over, there may be stability, which many users will not like.

ned.ryerson

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Perhaps in the future when all bitcoin mining will stop , but then there will be other coins that will mine and so will continue throughout the time.

kreon112

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I think mining won't stop. It just will become a big corporation business. People are unting in pools, pools uniting in companies and so on. And one day they will have so much power that no individual will be able to beat them in mining.

joshy23

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Quote from: Stavri on October 22, 2018, 09:02:40 AM

I dont think it will stop. Because mining is the way to issue more tokens ans approve all transactions on the blockchain. Some blockchains can stuck without miners.

Well said, mining can't be stop with how the system has been made, it only can be done if all those coins that exist will be converted to PoS or another type of productions, but until bitcoin still using Pow mining will continue as miners need to work for the transactions, though it's no longer profitable like before but those who's believing that it will bounce back, will continue to mine and hold their coins hoping that in the future things will change their lifestyle, what happen before can happen back in the future.

Stavri

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I dont think it will stop. Because mining is the way to issue more tokens ans approve all transactions on the blockchain. Some blockchains can stuck without miners.

10BTCaDay

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I believe that mining will stop when all bitcoin is mined, and now it is not profitable it will still produce bitcoin.

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