Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: anyone on August 27, 2018, 11:05:49 PM
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Hi, just wonder what will happen when Bitcoin reached its max. supply i.e. 21M, currently, the circulating supply is 16-17M. Will miners not get their profit on mining??
What is your speculation about bitcoin reaching its maximum? value?
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Miners will definitely still get profit. They play a huge role on the blockchain security that they can't just be ignored easily. Miners will get their cut solely from transaction fees. Though we really can't say right now if it will be more or less profitable for them(the miners) or not.
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Miners may need to rely on transaction fees in order to maintain operations. But transaction fees alone will be insufficient to keep Bitcoin miners financially solvent once the mining process has been completed. Maybe in the future mining chips will become small and highly efficient. This would reduce the burden placed on miners and would allow mining to become an activity with a lower threshold of initial cost. Further, transaction fees may increase, and this could help to keep miners afloat as well. Who knows...
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Mate, I suggest you to move the topic to Bitcoin forum: https://www.altcoinstalks.com/index.php?board=18.0. Talking about Bitcoin supply must be better there. It is a special place for Bitcoin discussion. Thx
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I think bitcoin will experience an increase. I can't predict whether it will happen quickly. It is possible that 2 or 5 years the number of bitcoins will experience a maximum of supplay
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I think the decline in Bitcoin is indeed very troubling for the Miners and the existing investments. But keep in mind, if we observe Bitcoin in the last 5 years, that there will come a time when the price of bitcoin soars so high and it's a good time for miners to seek profits.
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no one knows what will happen.Probably will be more expensive, as the number is limited....or even lose all value and people will find a new coin.
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Mate, I suggest you to move the topic to Bitcoin forum: https://www.altcoinstalks.com/index.php?board=18.0. Talking about Bitcoin supply must be better there. It is a special place for Bitcoin discussion. Thx
I agree. Maybe the op's thinking was, this is the right board regarding bitcoin discussion. Well, he should make it more appropriate to move this into bitcoin discussion section because the topic contents all about bitcoin.
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Bitcoin is the same as gold. A limited amount will make prices increase. So in my opinion the price of bitcoin will experience an increase due to the rare bitcoin.
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Hmmm, that's actually an interesting question. Yes, miners would probably die off, at least for bitcoin. They could move to mine other cryptocurrencies or they will develop maybe some new mechanisms to earn fee with computing power. Who knows. As far as the price is concerned, I see bitcoin somewhere between 100k and 500k if we reach mass adoption. Yes the gap is huge, but it is really hard to guess.
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I was always wondering, we know that the last bitcoin will be mibed in about 100 years from now but did they took the technology development into the calculation?
Surely there will be some more powerful miners and GPU units in the next 50 years, so will that maybe reduce the time for the lat block to be mined?
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Hi, just wonder what will happen when Bitcoin reached its max. supply i.e. 21M, currently, the circulating supply is 16-17M. Will miners not get their profit on mining??
What is your speculation about bitcoin reaching its maximum? value?
I am sure that the bitcoin #DevelopmentTeam already have a plan for this when the time comes that bitcoin will reach its maximum supply.
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If indeed the miners start mining when the price of Bitcoin falls, That is a good opportunity to mine. And clearly from there the miner will get a big profit if the price of Bitcoin rises. The price of Bitcoin for me has no limit, it could continue to rise from the maximum price you set earlier. and could have dropped down. Basically Bitcoin is very dynamic in price.