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Why do they have to mine bitcoins at this point? There are enough in the market just transact and trade with them.
by yalogin 6y ago
Why do they have to mine bitcoins at this point? There are enough in the market just transact and trade with them.
- sparkie 6y agoMining is the process by which new blocks of transactions get added to the ledger. There are no transactions if nobody is mining. When a miner mines a block, they are rewarded with the sum of all fees paid by transactions in the block, plus a subsidy, which is 50 >> height/210000. The subsidy is the process by which the available bitcoin supply is released into the market - a predictable rate which cannot be accelerated. Miners can chose to NOT claim the subsidy if they want, but would be doing so at their own loss.