What happens when btc mining starts losing money and the miners

>>2592993
Imagine being the only miner.
Imagine having a guaranteed 100% block killing chance.

>>2593031
But the time it would take would still be insane with the difficulty at the moon. And what's the point if the whole network is almost dead, once it starts to get slow people will abandon it

>>2593050
difficulty can adjust down too retard, and it will if computing power moves from the network

>>2593031
Why would you want to do that. I fucking hate bitcoin and what I like most about it is that is self regulated by the users,and general runs a smooth considering a bunch of dickheads austimotraders are its main clients.

>>2593031
>takes 30 years

>>2593062
Even so, if I want to mine for a gorillion years the coin number is still finite and it is bound to die. Bitcoins popularity seems like it might be its undoing

>>2592993
As more and more miners drop out the less hard it gets. Bitcoin at the start was mined with a labtop. Right now you have to have 60 thousands dollar computers to mine because there so many people mining

The less people mine the easier to make money it is, the only long term issue with BTC is what happens when the last coin is mined?

>>2593094
Miners will always get transaction fees and the last bitcoin won't be mined for a long time

>>2593094
Yes but we pay fees to the miners. When coin stops producing they will be mining for the transaction fees

>>2593094
What do you mean the coin number is infinite?

>>2593031
>imagine being the only miner

network is completely dead if there's only one miner, because he could choose what transactions to honor or not.

>>2593107
>>2593110
Good point, I forgot they got transaction fees.

>>2593126
oh never mind i cant read apparently

>>2593126
Finite =/= Infinite

>>2593126
Finite

>>2593130
But transaction fees are so low and most miners would probably burn more in electricity than they make from them

>>2592993
The difficulty goes down, causing it to be more profitable, causing more people to mine Bitcoin.

Btc just seems to have too many logistical problems to not die. If it never became this popular the system would have worked fine

>>2593130
So when mining blocks become not profitable people drop out and stop mining. The less money it takes to mine. So mining bitcoin will always be profitable

>>2593150
by that time, transaction fees won't be low

>>2593173
But why keep using a coin that is slower and slower and becomes more and more expensive to transfer money

>>2593150
It depends on if it sees normie adoption, I would be more than happy to get $0.001 per transaction if there are a billion transactions a day.

>>2593169
Until there are no more blocks to mine

>>2593204
transaction fees will be low for users, but not for miners
if you make BTC transaction fees 1/100th what they are now, people will use BTC 100x more, so in the end it gets balanced for the miners.

>>2593231
>if you make BTC transaction fees 1/100th what they are now, people will use BTC 100x more

I don't think that's how it works m8

>>2593253
I don't care what you think.
Right now a lot of people are complaining about BTC transaction fees, but they will be much lower soon.
People complain that it's better to sell the BTC for an altcoin, and transfer the altcoin instead, for many types of trades.
People can't buy a coffee with bitcoin because it costs $2 for the transaction.
If it costs 0.02, everyone can start using for most transactions.
so shut the fuck up
m8

>>2592993
They will be paid by tx fees. Read the fucking whitepaper you moron.

>>2593231
>if you make BTC transaction fees 1/100th what they are now, people will use BTC 100x more
But if people use btc 100x more then you need 100x more mining, not? So in the end this doesn't change anything.

>>2593314
holy shit, and in 30 fucking years the energy required to mine 100x time more than now will be 10000x less than now
fuck you I hate you.
shut the fuck up already
stop using computers
you're a retard
get out of /biz/

>>2593384
Why are you getting so mad, many altcoins are trying to tackle these issues because btc is flawed. You can't just deny it and pretend its a bulletproof system

>>2593427
Not to mention that fusion is actually close now and not "40 years" close. Reactors are producing net gains and GE has claimed they will have a commercial unit in 5 years, a big claim from a fortune 500 company.