But do we not need miners to process the transactions? What happens without them?
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Bitcoin price, where next?
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Originally posted by pjt View PostBut do we not need miners to process the transactions? What happens without them?…Maybe we ain’t that young anymoreComment
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Originally posted by pjt View PostBut do we not need miners to process the transactions? What happens without them?
"Miners" solve a complex crypto problem that releases a new batch of coins. The problem was designed to get harder & harder to solve, and there's only a limited number of solutions.
When mining stops then the ability to create new BitCoins stops. However the existing BitCoins are still valid and tradeable, just the "money supply" will stop increasing.
Restriction of supply, should in theory, make coins individually more valuable - similar to having a currency backed by physical gold. However, I have know idea what will really happen.
They could just decide to allow coins to be traded in 0.00001 blocks rather than 0.0001 blocks. "They" being whomever it is who decides such things. They could, of course, all just fall into squabbling and trolling each other on the internet.Comment
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Originally posted by northernladuk View PostHas anyone told PC the bad news yet?Comment
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No "To the moon" option, poll fail.Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.Comment
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Originally posted by Hobosapien View PostNo "To the moon" option, poll fail.
Actually, there was a >$1M but NAT replaced it with andyw.Comment
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Originally posted by northernladuk View PostGood effort sir.
But, erm, 27 post views and 57 votes for AndyW's mum?His heart is in the right place - shame we can't say the same about his brain...Comment
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It's somewhere around $3000 per block in the US. Probably cheaper in China if you've a government hyr
Originally posted by tomtomagain View PostN"Miners" solve a complex crypto problem that releases a new batch of coins.
Mining doesn't stop when the subsidy reaches zero. The validation of a block of transactions, and thereby adding it to the blockchain is called mining. This continues so long as transactions continue. Miners make money from the transactions they successfully process before anyone else.Down with racism. Long live miscegenation!Comment
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