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RE: What happens when the bitcoin mines are empty?
mining rewards have 2 components:
- Network Reward (new bitcoins created by network)
- Transaction fees. (User paid transaction feeds).
Eventually network reward will be zero, but transaction fees will still remain.
Thanks @boxmining, still a little confused as to why users will pay fees to mine something that is empty, would that then not turn it into a ponzi type scheme?. Will do some research to find out more.
I see, they will then have to change their business model to become another crypto-wallet like Exodus, Multi-bit etc....
why they are the bitbank and offering legal tender as it is :D it's the normal way into and out of crypto. It's really like the crypto bank.