Topic: Will mining will ever stop ? - page 35. (Read 4836 times)
Mining will never stop because it is responsible for transactions and verification. Mining is the only way Bitcoin and Altcoin will maintain their network scalability and information accuracy. Mining will not be stopped because the Bitcoin network will die without miners.
Maybe when there are better alternatives.. But for now there is no good alternative..
It would never stop, transaction fees will be the ones covering the expenses.
Bitcoin mining is a continuous activity. Bitcoin miners keep mining activity on going day and night. Bitcoin miners verify and secure each and every bitcoin transaction. In return they get transaction charges in the form of bitcoin. So whenever bitcoin transactions are there, miners will be there and so will mining activity. It’s a continuous process and will stop only when bitcoin stop.
If fact mining can be divided here in two categories one is to create and increase the number of coin which can lost for some time and when all the coin will mine then it will stop mining the coins, but if we talk about transaction of coin then it will continue for ever and will never stop, because transaction of coins will always be there and it will never stop but will continue increasing as time pass. 
Bitcoin mining is a continuous activity. Bitcoin miners keep mining activity on going day and night. Bitcoin miners verify and secure each and every bitcoin transaction. In return they get transaction charges in the form of bitcoin. So whenever bitcoin transactions are there, miners will be there and so will mining activity. It’s a continuous process and will stop only when bitcoin stop.
For example, for Bitcoin, there is no parallel devaluation. If anything, Bitcoins should become more valuable over time as the number of Bitcoins entering the system decreases. Not only is the total supply of Bitcoins capped at 21 million, but the flow of new Bitcoins into the market has also been tapering off. Roughly every four years, the number of Bitcoins awarded for mining a block is cut in half.
looking for alt-coin by mining is very profitable and faster in getting it but the more alt-coin it gets I guess it will not stop people looking for alt-coin and the amount of alt-coin I think has no limit
Mining is not only for creation of the cryptocurrencies but also for the confirming of the trasanction in a block. Even if the limit is reached, mining will still goes on. Mining stopping is impossible.
The ecological footprint of the PoW networks is now unsustainable so I believe ASICS/GPU mining will eventually stop, may be sooner than we expect.
However, the mining process has to be replaced by something else because the transactions must be confirmed and the blocks must be generated.
BTC mining stopped being feasible for small domestics enthusiasts a couple years ago and is now almost entirely in the hands of a few corporations running huge mining farms. I'm sure that was not how Nakamoto envisioned it 10 years ago...
ETH, XRM and many other PoW can still be mined at home but more an more this is also turning to be an activity reserved for those with very cheap or free electricity. Again, if this is reserved for only a few than one of the basic tenets of crypto will be lost; decentralization.
On top of this, a growing number of malware schemes is taking advantage of Coinhive's script of other mechanisms to abuse naive users and lure them into mining for someone else.
IMHO, all the aforementioned aspects point out the need for a better solution. And I believe we already have it; Proof of Stake!
However, the mining process has to be replaced by something else because the transactions must be confirmed and the blocks must be generated.
BTC mining stopped being feasible for small domestics enthusiasts a couple years ago and is now almost entirely in the hands of a few corporations running huge mining farms. I'm sure that was not how Nakamoto envisioned it 10 years ago...
ETH, XRM and many other PoW can still be mined at home but more an more this is also turning to be an activity reserved for those with very cheap or free electricity. Again, if this is reserved for only a few than one of the basic tenets of crypto will be lost; decentralization.
On top of this, a growing number of malware schemes is taking advantage of Coinhive's script of other mechanisms to abuse naive users and lure them into mining for someone else.
IMHO, all the aforementioned aspects point out the need for a better solution. And I believe we already have it; Proof of Stake!
While it is possible to do it at home on video cards, it will not stop. But probably, as with all the rest, it will eventually cease to be profitable because of the competition of corporations.
Mining is nothing but the transactions approved by block chain technology. Few are confused about mining may stop when bitcoin reaches its highest level, but that is not true. Each every transaction in block chain is mining actually and if bitcoin or all the crypto currencies disappear then mining may stop but there is no chance for that for another 100 years at least.
I think that in the next few years, mining may disappear due to the fact that it ceases to generate income. Now the role of mining is reduced significantly talked about this and the Creator of Ethereum, Vitalik Buterin.
In as much there are coin and coin still exist, mining will continue and even if power supply will later be the reason for it to stop there are ico with concept of helping mining with new tech development.
I think mining will never stop as long as they are coins to be mined.
I believe mining should be private and will not be replaced by government. If it is replaced by government than will be easily manipulated.
I believe mining should be private and will not be replaced by government. If it is replaced by government than will be easily manipulated.
Hello people, i'm new in the crypto worlds , i have two questions please i need logic answers .
1 - will mining will ever stop
?
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 !
1 - will mining will ever stop
?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 !
Speaking of bitcoin, I think after achieving a limit of coins, some other coin will be created. It will be technologically closely related to bitcoin and will be mined. Something like fork.
It will stop when there will be no computation power in the world, or when they will find an easier and more secure way to mine a block. (mining with feathers, i don't know)
as long as their are coins the mining can never stop
Hello people, i'm new in the crypto worlds , i have two questions please i need logic answers .
1 - will mining will ever stop?
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 !
1 - will mining will ever stop
?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 !
Hello people, i'm new in the crypto worlds , i have two questions please i need logic answers .
1 - will mining will ever stop?
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 !
1 mining will never stop , just from one country to another.1 - will mining will ever stop
?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 !
2 I think it should be more valuable when it reaches its limitation.And also it has been dead when it reaches its limitation , most of the limitations take too long to reach.
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I think most people will stop mining and be replaced by government/company sectors, for example, with much better tech and budget to mine more consistently. I think Russia wanted to get into mining, which is actually a really horrible idea for everyone else I think and hope it doesn't happen.
I don't think so because everyone could start mining especially for people which have a big money and a big place and not just the government that wants to try mining. as long as there is any hardware is sold in the shop, then mining will continue and the hardware will launch the newest technology for mining. the government cannot replaced mining from the people but I realize that the government has the unlimited resource than the people so maybe the government will use their resource to mining like what people did.
Mining is the heart of crypto without the mining the, the crypto world also will suffer or dead.
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