As block reward decreases, miners will be dependent on transaction fees to suffice for their electricity costs. By then, if the price of Bitcoin isn't high enough, it will lead to a further reduction as miners abandon their business because of the lack of profit. Thus it could be said that Bitcoin can either do very well or collapse completely in 2140.
Doesn't the Bitcoin system fail in this way or are there any other variables in play that stop such a breakdown?
Doesn't the Bitcoin system fail in this way or are there any other variables in play that stop such a breakdown?
Please don't spread any FUD.
Your question is not really valid. Bitcoin rewards will indeed halve every 210000 blocks however this is not a worry. Bitcoin prices will increase probably alongside with the block rewards decreasing. This is not even mentioning that transaction fees will be an integral part of the economy. Look at even now, pools are making a lot off transaction fees compared to before, when compared to the actual mining rewards.
If there was a decrease in miners, it does not matter at all. It just means that these miners who chose to stay will have more blocks found thats all.
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OP is a classic Waves spammer that is starting nonsensical threads. Add him into your ignore list. I suspect that he/she creates threads that facilitate SPAM for others (i.e. opens "discussion" to other farmed accounts). See another example: https://bitcointalk.org/index.php?topic=1952038.0Most likely that. I can't imagine why someone would not even know how the bitcoin ecosystem works and still have a senior member account
