Topic: Will mining will ever stop ? - page 28. (Read 4836 times)

Yes, because as I know  mining is the center of transaction so we cannot stop mining because if we stop mining we  are trying stop also the crypto world , that is why we need to support mining and dont make a reason to stop it.

Of course not. The mining service is a kind of basic service. It is also an activity that guarantees the normal operation and transmission of the network and maintains the network, and then returns the service. With more and more blockchains and mining in the future, node services will be more abundant.

If the price of coins continues to decline, of course this makes people impatient for mining, many complaints miners because the more difficult it is to get a coin with mining so choose trading because it is more practical and easy.

I think mining will never stop if cryptocurrency are still alive. The other fact is There some of coin that have infinite supply, so since the coin itself is not dead the mining activities will not stop. And dont forget about some newborn coin that build with POW algo inside it.

I think mining will never be stopped since it’s the way also crypto-companies can attract more people to gain their token popularity. But mostly, only coins and tokens with large total supply of about billion is capable of mining.

No I don't think people will stop mining. In the case that only a few people would mine, the market rate of Bitcoin would skyrocket, giving instant profit to holders of btc.

In response to your questions:
 
1 - Theoretically, mining will stop once all of coins on a blockchain have been mined and blocks discovered.  For Bitcoin, that is going to be 21,000,000 btc.  (right now there are about 17 million that have been mined).  Even though it seems that there aren't that many more left to mine, it will still take 40 to 50 years, maybe longer because each time a block is created the algorhythms to solve become much more complex.  Even now, it takes super computers to hash it all out.  Also, even after all coins are mined, there will still be people operating nodes.  so realistically speaking, maybe we won't ever see a situation where all coins have been mined; will btc even be around 50 years from now? Or will it be seen as old, primitive tech?

2 - There isn't any kind of reward for doing it all.  I imagine it will just stop.  But remember, any blockchain has to be maintained through nodes.  There are some people who predict doomsday for a coin and "true death" if that happens because there would be less incentive for node operators.  Now, not all bockchains are the same.  There are some that have premined basically everything and then you need to realize that tokens operate slightly differently than coins.  For all realistic purposes, these are things we don't really have to worry about yet.

Unless Bitcoin stops using the proof of work algorithm and shifts to some other algorithm I don't think that mining is going to lose its influence. But with coins like Ethereum shifting towards proof of stake and leaving mining, it is certainly going to have a negative effect on the mining industry.

I think production won't stop, people will prodozhat to earn from it, production is a part of investments into a kriptovalyutnost because you need to buy a mountain tower for start of production and receiving high profit.

I think its not, as long as there is an altcoin to be mine, mining will never stop. altcoins has a huge amount of supply and it will take a lifetime to mine all of them.

No, it will not stop between coin will adopt POS which will aid mining business and even more profitable, it will attract more miners crypto business will boom as a whole.

Answers

1. No
2. (i) Re-model and (ii) Trade/Swap

I think actually in the enxt years we will reach the climax of mining. Actually there are so many miners. And they are even more ACIS and and asic producers. Its like a mining war. So many hashpower and so many electricity used for the cryptocurrency network. So it will not take to long untill the whole mining system will collapse. Because everyday its less profit with mining. And they are also new coins who all work with proof of stake which will replace the mining system!

of course not. new coins mean new minings and people already don't mine enough.

What do you mean mining will ever stop? Your bitcoin mining will stop only if you invested in site that can stand only in 20-30 days.there's a legit mining site like hashflare,minergate.

it is really unlikely... almost impossible...
when a coin reaches its max supply rewards start to come only from transaction fees...
this will happen when BTC will reach 21M.

ETH's move to PoS with the Casper implementation will be a true game changer.

Once the best altcoin moves to PoS, a new era begins for crypto.

And the PoW mining will fade away....

I have the same question especially for Bitcoin whose supply stops at 21million.

But mining is the way to process the transactions. How can we be sure that the price will still go up despite of that 21m being mined ?


ROI is in 6mos. if you dont have the money to spend, then dont. Most of the miners have large lumps of money to deal with it.

I believe it can stop once no one uses the blockchain anymore.

I think that mining supported by producers of mining equipment and video cards. So I think that mining will not stop in nearest years due that it is big business and big money.

As long as still profitable mining will not stop, even more and more of its enthusiasts because of seeing a very large profit. and if the total coin in the mining has reached the limit then the miner still get the income from the transaction fee that occurs in blockchain so no need to worry.