Re:Cambridge Bitcoin Electricity Consumption Index
by p0nce on Wednesday February 10, 2021 @10:18AM
(#26090246)
Honest question: if there is little transactions because it's a "store of value", and if the mining reward continuously go down, why would anyone be incenticized to be a miner?
Re:Cambridge Bitcoin Electricity Consumption Index
by _muff1nman_ on Wednesday February 10, 2021 @08:55PM
(#26097336)
> How are these questions still being asked, and more amazingly, still being upvoted? First off, there will not be a time when "all the bitcoins are mined". Mining rewards are on a geometric curve that approaches 21 million but never touches it.
These questions are still being asked because people like you still spout the wrong answers. There will be a time when "all the bitcoins are mined" - its in the source[0].
[0]: https://github.com/bitcoin/bitcoin/blob/master/src/validatio...
How are these questions still being asked, and more amazingly, still being upvoted? First off, there will not be a time when "all the bitcoins are mined". Mining rewards are on a geometric curve that approaches 21 million but never touches it. Second, transaction fees also go to miners, so even when mining emissions are negligible, transaction fees will keep the miners incentivized to keep mining.
This is all pretty much in the intro of the whitepaper, and the first thing you should learn if you spend 5 minutes looking into this technology.