Ninjastic
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Board Announcements (Altcoins)
Re: [ANN] Viacoin (VIA) - Safe | Segwit | Lightning Network | Auxpow | Fast
by
Jonesd
on 27/07/2017, 10:06:27 UTC
Quote from: JoostB on July 27, 2017, 05:41:51 AM
Quote from: Gelbstich on July 26, 2017, 06:45:58 PM
Quote from: JoostB on July 26, 2017, 06:14:30 PM
Quote from: Jonesd on July 26, 2017, 04:53:42 PM
Quote from: grv on July 26, 2017, 04:33:27 PM
Quote from: KindHearted on July 26, 2017, 03:38:41 PM
Quote from: romanornr on July 26, 2017, 10:53:34 AM
Viacoin Block Reward Halving happened !
Reward per block: 0.3125 $VIA

So when will we hit 23million?
And what happens next? Hashrate down to almost zero?

you might as well have asked "what will happen when bitcoin hits 21million"
you should read up on how real crypto works,
where do you think transaction fees go, etc


In short, once block reward stops with cryptocoins, the network is hopefully so busy by that time that the transaction fees are high enough to keep mining interesting.

I have no clue how this coin (or any coin for that matter) works in general, but does the transaction fee really go to the miners? Or is it sent elsewhere, maybe to an address owned by the developers?
 
Of course all the transaction fee goes to the miner who solved the block.

Maybe I'm mistaken but I always thought that transaction fee and miner rewards are two totally different things, and that miner rewards are created out of thin air, otherwise how can there be coin inflation?

Of course you can program this in every way you want, to know what is really going on you have to examine the source-code in detail and that is something I never did.    

Hoi Joost (you're Dutch right?)

That assumption is correct. I would recommend to read up a bit on it, because you're really asking very basic questions which are just a matter of putting a little bit of effort in (being inquisitive is good as long as your questions are about insight, otherwise it just seems a bit lazy). I would recommend reading this article on transaction fees: https://blog.blockchain.com/2016/12/15/bitcoin-transaction-fees-what-are-they-why-should-you-care/ (If you end up not being Dutch, I'm sorry for being so direct Cheesy )