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> What incentive will there be for the community to continue verifying transactions after all the bitcoins are mined? How are these questions still being asked
by px43 6y ago
> What incentive will there be for the community to continue verifying transactions after all the bitcoins are mined?
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.
- p0nce 6y agoHonest 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?
- _muff1nman_ 6y ago> 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/validation.cpp#L1240-L1251 https://github.com/bitcoin/bitcoin/blob/master/src/validatio...