Linked Questions

2
votes
1answer
9k views

What happens when there are no Bitcoins miners anymore [duplicate]

So if I'm not wrong, the proof of work is the way to validate all the transactions in a Block. The miner gets (at the moment) 12,5 Bitcoins as a reward for each validated block. So my question is: ...
2
votes
2answers
783 views

Will mining in the (far) future produce a payout? [duplicate]

According to this question, there will only be 21 million bitcoins at most. These coins are being produced logarithmically by mining, so the payout will decrease as time goes by. When all 21 million ...
0
votes
1answer
383 views

What will happen when all 21M bitcoins are mined? [duplicate]

What will happen when all 21M BTC are mined ? How will miner get new coin as reward? In absence of it, the only option available will be to increase transaction fees? If I have to pay anyway fee, I ...
3
votes
2answers
123 views

How much will be the fee after all bitcoins are mined? [duplicate]

Because mining is every time harder, and hence more expensive, right now is profitable because the btc is rising, but what will happen when btc price is stable and miners won't get any extra reward, ...
64
votes
11answers
10k views

Will Bitcoin suffer from a mining Tragedy of the Commons when mining fees drop to zero?

One issue that I haven't seen clearly addressed is the possible Tragedy of the Commons in Bitcoin's future (see this answer). 40 years into the future, the only significant direct benefit for honest ...
41
votes
5answers
27k views

What will happen to mining after the 20 999 999th Bitcoin?

After the 21 millionth bitcoin or 20,999,999th bitcoin is mined, what will happen to bitcoin mining? - will it just stop, or will we make a further division of the satoshi thanks to Bitcoin's infinite ...
29
votes
3answers
50k views

What's the minimum transaction with bitcoin?

What's the minimum transaction with bitcoin - local wallet to local wallet. Can I send for example $20 in bitcoins to another person?
12
votes
4answers
5k views

The End of Mining

According to Wikipedia, here's a projection of expected future Bitcoin supply: Is there any effect to the dynamics of the system beyond the valuation of Bitcoins? For example, is mining required to ...
9
votes
3answers
1k views

Do miners have both the incentive and ability to keep the reward at 50BTC?

There has been some concern about the fact that transaction fees (in their current form) are not an adequate replacement for the current 50BTC block reward. Gavin has said as much, as have others. ...
8
votes
3answers
3k views

How does the mining process support the currency?

Why is mining Bitcoins necessary? Is it essentially a distribution mechanism to ensure Bitcoins are not held by a few (wealthy) individuals from the get-go who might just hoard Bitcoins rather than be ...
13
votes
2answers
626 views

What was the most recent change to the official client that broke block validity?

There have been suggestions that various bitcoin protocol rules (max block size, mining reward policy, etc) could be changed in the future by everybody "agreeing to update their client". The ...
8
votes
3answers
6k views

How exactly do new bitcoins come into existence?

I understand that currently new bitcoins are awarded during the validation/mining process. However, how exactly does the system determine that bitcoins that were previously nonexistent should be ...
10
votes
2answers
3k views

Will the proof-of-work system end when all bitcoins have been mined?

This article from ArsTechnica is claiming that Bitcoin is not such an environmental disaster, and one of the reasons they mention is that mining will come to an end. Ok, fair enough, there is an end ...
6
votes
1answer
4k views

What does the “Cost per Transaction” chart on BlockChain.info show?

According to the Blockchain.info: Cost per Transaction, the latest "Cost per Transaction" value is 16 USD. Apparently, it's not the transaction fee, what does it mean then?
2
votes
1answer
440 views

If Fees Were Paid In US Dollars, What Would They Be?

Assuming all Bitcoins had been discovered and fees were paid in US dollars (please ignore the obvious problems), what would an appropriate fee be? Would it depend on the size of the transaction? How ...

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