Quote from: heitorlinks on September 06, 2017, 09:58:14 PM

Quote from: Sephil on August 25, 2017, 07:28:40 PM

This morning I was talking about this with a buddy of mine.

Right now we have miners all over the world trying to solve this exponentially hard algorithm to earn their bitcoins. That is their incentive and that is what drives them to do so.

What happens when we remove that incentive to "mine" aka "verify transactions" on the blockchain? What I'm basically asking is what happens when we hit 21,000,000 bitcoins from the perspective of the miners?

Volatility will end and Bitcoin will begin to be used for its purpose.

The volatility of bitcoin does not come from the bitcoins that are the reward from solving a block that the miners get, it comes from several factors, first bitcoin is too young so it is still growing and changing and it has not reached its definite form, two bitcoin is a completely new technology so people do not know how to react to it, and three the whales can manipulate the price as much as they like since they have huge amounts of bitcoin.