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Crypto mining

Wictorian
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I am not an expert about this, but as far as I know there is a cap to a coin and transactions are taken care of by miners. What will happen when the cap is reached?

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What cap? Which crypto? There is only amount of bitcoins that can be mined. Rules are different for each crypto currency.

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* thread moved to the Folding@home, Boinc, and Coin Mining section *

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For bitcoin, considering the difficulties keep going up as they go, it is estimated that the "cap" won't be reached until something like 2140. Or something close to that.

https://en.bitcoin.it/wiki/Controlled_supply#:~:text=Due to the mining power,mined on May 7th, 2140.

 

Currently, about 18.5 Million bitcoin have been mined. Out of 21 Million. So you can see how hard and next to impossible for people to mine this shit will become considering it will take over another 100 years to mine the remaining 3.5 million.

https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/

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for BTC once all the 21 million coins have been mined the miners will still mine and the profit will come from the transaction fees. like right now a block reward is 6.25 BTC and an average block ends up having a value of about 7.1 BTC +/- that difference is the fees of like 2000 different transactions.

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10 hours ago, airborne spoon said:

for BTC once all the 21 million coins have been mined the miners will still mine and the profit will come from the transaction fees. like right now a block reward is 6.25 BTC and an average block ends up having a value of about 7.1 BTC +/- that difference is the fees of like 2000 different transactions.

where does that bitcoin come from?

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8 hours ago, Wictorian said:

where does that bitcoin come from?

i guess you are referring to the 21 million BTC that will ever exist.

 

On 1/15/2021 at 10:36 AM, TetraSky said:

 

https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/

Read this article that was already posted then read it again in case you missed something. it is rather well written and informatry and should answer any questions you still have

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