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This is completely incorrect. Transactions are processed as part of mining. You cannot simply stop mining and continue doing transactions for free; the whole po
by NickM 6y ago
This is completely incorrect. Transactions are processed as part of mining. You cannot simply stop mining and continue doing transactions for free; the whole point of the mining process in a PoW cryptocurrency is that mined coins are given out as a reward for helping to secure transactions.
- criddell 6y agoWhat happens when all the bitcoins are mined? There still has to be some settlement process or else the blockchain ends.
- cstein2 6y agoMiners are incentivised with transaction fees alone after all the bitcoins are mined.
- throwaheyy 6y agoMining continues but the reward comes solely from transaction fees.
- marcosdumay 6y ago> What happens when all the bitcoins are mined? Then miners will get only the transaction fees. But it's still the same process. (Anyway, that won't happen, the number of available BTC to mining will asymptoptically approach 0, but will never get there.)
- cdiddy2 6y agoNo, new bitcoins run out around 2140. From then on there will be no new bitcoin
- SamBam 6y agoThe algorithm makes it such that the last coin will be mined sometime around 2140. My assumption is that people just plan on moving to another fork before that point.