Re:China says it wants to eliminate Bitcoin mining
by modzu on Tuesday April 09, 2019 @10:24AM
(#19614965)
i thought one of the features of bitcoin was that mining would eventually become too computationally expensive -- because the total number of bitcoins is fixed. so at some point, mining does not produce coins and you're only mining to process transactions. so isn't there a plateau somewhere, relative to the throughput of the network? nb: non-expert here
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Re:China says it wants to eliminate Bitcoin mining
by belltaco on Tuesday April 09, 2019 @05:16PM
(#19619005)
Based on limited knowledge, once all the coins are mined, I think the miners then compete for transaction fees only.
>mining would eventually become too computationally expensive
I don't think that's true, the difficulty adjusts every two(?) weeks based on the hashrate.