Topic: Will mining will ever stop ? - page 38. (Read 4836 times)
Mental mining should pay with cryptos
Apparently, mining will stop for bitcoin once 21,000,000 are mined. Then, only existing BTC will trade? Plenty of other cryptos.
Even if production ceases on a specific coin, it will be possible to organize a new ICO or fork. Therefore, you should believe in the world of crypto-currency
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 !
nope but if mining stops this will happen1 - 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 !
If everybody stop mining i.e. zero hashpower in mining will result in the following:
Increased price for bitcoins as the fresh supply will be wiped off.
Transaction fee is paid by the sender to the miner, therefore no negative impact will be there on already mined blocks.
A lot of electricity will be saved.
ASICS (the specialized machines for Bitcoin Mining) like Antminer S9 will be shifted to mine other coins in SHA256 family like Litecoin.
Difficulty will be stable.
NOTE: This message was originally not posted by me, but instead by someone who compromised my account. I have deleted the content.
I believe mining will be substituted by more efficient and sustainable techniques like Proof of Stake or similar. Mining on a big scale is a total waste of resources, increases global warming. You already need the energy of three nuclear plants to fuel the Bitcoin network.
As long as there are cryptocurrencies that are POW then i don't think that the mining will stop because miners exist because of the profitability of the cryptocurrencies thhat they can mine and that is why miners are still here and they are continuously mining and it will just stop if the mining is not profitable anymore.
Mining is consuming crazy amount of electricity nowadays and they are thinking of passing through the proof of stake system instead of hardware mining system. This means it will chance from pow to pos.
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 !
Mining will not stop as every transaction will need a miner to do the job unless crypto is gone. If there is nominer then who will do the job of transaction if crypto is still alive.
Mining is used to verify transactions. If mining stops verifying stops and coin system won't work.
That is how it's work. On the other hand it could stop, because we have other option for verifying the transactions called proof of stake or POS.
On a long run for a coin it's not the best option to use mining rigs with a big power consumption. It is not sustainable.
But these are just a guesses.
That is how it's work. On the other hand it could stop, because we have other option for verifying the transactions called proof of stake or POS.
On a long run for a coin it's not the best option to use mining rigs with a big power consumption. It is not sustainable.
But these are just a guesses.
As long as there are cryptocurrencies that are POW then i don't think that the mining will stop because miners exist because of the profitability of the cryptocurrencies thhat they can mine and that is why miners are still here and they are continuously mining and it will just stop if the mining is not profitable anymore.
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 !
Mining won't ever stop because some currencies have unlimited supply , and for those who has a limited one ,miners will still get to mine the transactions and thus get their rewards as fees .
But the real question that often crosses my mind :
Will governments take measures at a certain time to hugely increase in electricity fees to the point that mining becomes a non profitable activity ? Will that actually push miners to step out if they can't provide some sort of renewable energy ressources to feed their mining farms the juice ?
Government will sooner or later realize that they can't penetrate the concept of the blockchain technologies in it's decentralization part , but will try to figure out another way to either make profit out of cryptocurrencies trading and mining , and i guess this is what they'll be using since electricity is the only vital point they'll have control over ..
Thriving to get some answers ..
It will not stop if it still gives a profit for it indeed and How our fate when mining stopped then we will be silent helpless cause who will process our transaction. Miners must still mine cause crypto is served altcoin ready for mine and altcoin probably will not live without bitcoin and miners must keep mining bitcoins.
Mining will continue till the time Bitcoin exist and BTC has an excellent future. Since Bitcoin is decentralized and mining is required for fast and easy transaction, mining will keep going to great extent.
for now mining will never stop because for now there are many miners around the world and they always mining for they to earn more bitcoin and other alt coins.
Mining is a part of investing in cryptocurrency because you need to buy a mining rig for you to start mining and to get a high profit. Mining is good for the one who mine because he or she can earn a lot of bitcoin while waiting.
Mining is a part of investing in cryptocurrency because you need to buy a mining rig for you to start mining and to get a high profit. Mining is good for the one who mine because he or she can earn a lot of bitcoin while waiting.
What happens to the bitcoin network when the miners all stop, years in the future after all the bitcoins have been mined? How will the network continue to function? Won't bitcoins then be useless? What would be the incentive for an individual to continue using computational power to service all the transactions? Isn't this like a ticking time bomb or is there something I'm not getting?
As long as crypto currencies exist, mining is not going to be stopped. If bitcoin reaches its threshold, we have hundreds of altcoins. Will have lots of altcoins to mine and keep the crypto coins value keep creating and growing. In case, if something is invented competing mining system and found that its more beneficiary, lets then look at stopping mining. Lets just think of inventing new things instead of even questioning of stopping something.
then mining can be stopped without any doubt, it will be replaced and will be taking over of the new invention that can be more profitable than what
we are getting out from this market, we know investors/traders always find new things to place their money and earn.
A better alternative to the Proof of Work mining was invented years ago; it's called Proof of Stake and it might be the answer to many of today's concerns surrounding BTC, namely the network power consumption.
ETH will change to PoS in the near future and that might trigger a new wave of altcoins to join the already successful PoS v3 implementation.
Mining might never stop but it will eventually be reduced to a minimum as people start to realize there are better solution for the consensus problem.
What happens to the bitcoin network when the miners all stop, years in the future after all the bitcoins have been mined? How will the network continue to function? Won't bitcoins then be useless? What would be the incentive for an individual to continue using computational power to service all the transactions? Isn't this like a ticking time bomb or is there something I'm not getting?
As long as crypto currencies exist, mining is not going to be stopped. If bitcoin reaches its threshold, we have hundreds of altcoins. Will have lots of altcoins to mine and keep the crypto coins value keep creating and growing. In case, if something is invented competing mining system and found that its more beneficiary, lets then look at stopping mining. Lets just think of inventing new things instead of even questioning of stopping something.
then mining can be stopped without any doubt, it will be replaced and will be taking over of the new invention that can be more profitable than what
we are getting out from this market, we know investors/traders always find new things to place their money and earn.
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 !
Minning will not stop because there are other coins that you can mine. Also when Bitcoin and Ethereum reach their cap, maybe they will be scarce but this does not mean that the world will end. There will be other coins
What happens to the bitcoin network when the miners all stop, years in the future after all the bitcoins have been mined? How will the network continue to function? Won't bitcoins then be useless? What would be the incentive for an individual to continue using computational power to service all the transactions? Isn't this like a ticking time bomb or is there something I'm not getting?
As long as crypto currencies exist, mining is not going to be stopped. If bitcoin reaches its threshold, we have hundreds of altcoins. Will have lots of altcoins to mine and keep the crypto coins value keep creating and growing. In case, if something is invented competing mining system and found that its more beneficiary, lets then look at stopping mining. Lets just think of inventing new things instead of even questioning of stopping something.
What happens to the bitcoin network when the miners all stop, years in the future after all the bitcoins have been mined? How will the network continue to function? Won't bitcoins then be useless? What would be the incentive for an individual to continue using computational power to service all the transactions? Isn't this like a ticking time bomb or is there something I'm not getting?
I don't think so, there will always be another coin for people to mine.
Exactly, they buy those machines for the purpose that it can be used for a long time. Do miners take the risk of losing their money and open for a new chances that it might give them opportunity to generate more. In fact, the reason why people goes in mining is that, they probably find themselves more comfortable in doing this. Jump to: