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RE: What happens when the bitcoin mines are empty?
hey marcus, yes, we will run out of bitcoin block rewards. The reward per block is preprogrammed to half every few years (halvening). eventually block rewards will reduce to zero and miners will mine for transaction fees only.
@boxmining, thanks, not sure what you mean with regards to mining for transaction fees. If there is zero to mine then why would anyone mine?
mining rewards have 2 components:
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.
woop I'm following you nice videos and thanks for the BAT announcement :D even if it was a "tough time" to buy it :D ha so that's why transaction fees are high and it's a good thing :D