[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 252 KB, 1080x1350, untitled-b3gd9rb7a1-1080x1350.jpg [View same] [iqdb] [saucenao] [google]
29783028 No.29783028 [Reply] [Original]

So, I'm basicically a retard, can someone explain this:
If there is a limited amount of Bitcoin to be mined (21 million bitcoin), doesn't that mean that when that numbers is reached no one can mine anymore? But if people don't mine how do transactions happen? Doesn't sending/receiving money depends on miners? Why would they stick around if they have no more Incentive? How do you send money without miners?
Sorry for the coomer pic, had to get your attention. No, I don't know her name.

>> No.29783350

the last bitcoin will be so hard to mine that will require all the electric resources on the planet

>> No.29783520

>>29783028
that is a man

>> No.29783538

>>29783520
this

>> No.29783596

>>29783028
only a black male could satisfy her sexual needs

>> No.29783608

>>29783028

transaction fees will eventually replace block rewards as main source of miner income

>> No.29783688

>>29783350
What?

>> No.29783761

>>29783608
so what you're saying is that transacting over LN will lead to less fees, less incentive for miners, and less secure network?

>> No.29783819

>>29783028
Imagine

>> No.29783837

>>29783608
Doesn't that mean that fees will also have to get bigger?

>> No.29783840

>>29783596
Almost like she was designed for something, cant put my finger on it though.

>> No.29783979

>>29783520
no. it might be male, but it is a thing, not a man.

>> No.29784173

Coin Bureau Has a video about this look it up

>> No.29784271

>>29783520
i wish

>> No.29784411

>>29783837
No, there will be so many more transactions by that point the fees don't need to be bigger.

>> No.29784418

>>29783596
>>29783520

Kill yourself

>> No.29784419

Are you going to be alive in 2140???

Then who cares.

>> No.29784564

>>29783761
THIS CANT BE
BITCOIN IS THE PERFECT BLOCKCHAIN IT HAS NO FLOWS

>> No.29784584

>>29784419
>Are you going to be alive in 2140???
Bitch you don't know me.

>> No.29784702

>>29784411
who is transacting bitcoin you retard? the boomer buttcoin is literally internet gold. no one does anything with it except hodl

>> No.29784805

buttcoin will eventually die and the network will be controlled by china. basically the price will soar and then crash when the network dies / taken over by china

>> No.29784826

>>29784702
what the fuck are you talking about. this discussion is about what will happen in 120 years if the network makes it to that point, nobody gives a shit about your retard opinions

>> No.29784830

>>29783028
after the last btc is mined, miners still get $ for confirming transactions. Its called tx fee

>> No.29785004

>>29784830
My question is then: are these fees enough to provide incentive to miners? It's already hard enough to mine bitcoins at a profit.

>> No.29785009

>>29784702
laughs in market cap
shill me your rugpull shitmonger

>> No.29785212

>>29783761
There will still be txns over layer 1 and the fees will rise to meet miner demand.

>> No.29785246

>>29785004
If bitcoin were to progress to the year 2140 as originally intended, yes it would be enough. Whether that actually happens is a different discussion altogether.

>> No.29785351

>>29784584
excuse me sir, you made a typeo. the year when all buttcorn will have been mined is 1927.

>> No.29785479

>>29785246
Thanks.
I guess my curosity is satisfied. Jannies take the thread to the underworld.

>> No.29785544

>>29783596
most hung pornstars are white

>> No.29785559

>>29783596
how's the weather in cali?

>> No.29785584

>>29784826
>>29785009
oof. looks like i hit a nerve. enjoy your dial up internet boomer buttcoin. kek. china slowly taking over the mining and the network screeching to a halt. but yes keep buying and hodling. it will only go up

>> No.29786325

>>29785212
with same block size there will still be on average 2,5k txs in 1 block, so avg. tx fee would need to be over 130$ just to keep the current hashrate. also there's no reason to transact on L1 if you can do it on L2 cheaper. eventually you will need to close with a L1 transaction but those will be rare because of the fees, could be half empty blocks by then and half of miners quitting BTC and going to more lucrative coins

>> No.29786408

https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/#bitcoin-mining-rewards
The last bitcoin will likely not be mined until we are all long dead

>> No.29788263

>>29785559
Cali, Columbia? Probably quite hot.

>> No.29788335

>>29783596
Keep dreaming.

>> No.29788648

>>29785009
Unironically based af

>> No.29788869

>>29783688
it keeps halving

>> No.29790011

>>29783596
Latinas are for BWC only

>> No.29790295
File: 52 KB, 685x564, 1613781291752.jpg [View same] [iqdb] [saucenao] [google]
29790295

>>29790011
I can't even make a snarky comment because my bf is white

>> No.29790428

why is her ass hanging out

>> No.29790598

>>29784702
>look at BTC Volume
>Nobody is trading it
I wonder how some of you even manage to breathe by yourself

>> No.29791018

>>29783520
hot ngl

>> No.29791862
File: 100 KB, 669x553, 1613327463256.jpg [View same] [iqdb] [saucenao] [google]
29791862

>>29790295
tits or gtfo

>> No.29792673

>>29783028
by then people should have realized that monero is superior in any way imaginable

>> No.29792699

>>29783028
transaction fees

>> No.29792884
File: 1.99 MB, 450x450, 1609398934758.gif [View same] [iqdb] [saucenao] [google]
29792884

>>29783028
i'm going to trigger maxis, but when that happens miners will just vote to increase the supply of bitcoin. Contrary to what maxis try to sell you the 21m cap is not immutable, if miners reach democratic consensus, they can choose to increase the supply cap.