I think last bitcoin will be mined at the year 2140. Afterwards the miners will only get transaction fees. There will be unnecessary extra computer cappacity left. What do you think?
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I think last bitcoin will be mined at the year 2140. Afterwards the miners will only get transaction fees. There will be unnecessary extra computer cappacity left. What do you think?
I think fees will grow a lot by 2140.
I also think too.
Even if fees are about the same as today, it still would make sense to run ASICs in for many other uses. For example, many hobbyists tinkerers use asic miners to heat their homes, greenhouses, or even hot tubs.
In a world without a block subsidy, I find it hard to imagine that large warehouses pulling 12+ MW to mine BTC will still be profitable. Instead, I imagine that asics will become integrated into common household and industrial appliances.
That would be a proper solution.
The computation does not change, only the reward. That is the beauty of it. The speculation is by that point transaction fees will be high. The dream state would be for everyone to be on LN and I am guessing on-chain mempool would be mostly saturated with LN channel related transactions.
What miners do would still be important and critical to network security because they are ensuring you cannot brute force the next block. This guy has a great video on it: https://www.youtube.com/watch?v=vdaD-HJLycM
OK, thank you.