Quote from: usscfounder on June 10, 2013, 08:27:25 PM

Quote from: mebezac on June 10, 2013, 08:20:38 PM

Quote from: Hydroponica on June 10, 2013, 08:09:50 PM

Doesn't anyone understand how the crypto network functions? How do you suppose people will move coins around, if there are no miners to find blocks and get confirmations?

This is a huge point I'm still trying to understand about cryptocurrency as a whole. Will transaction fees be enough to keep miners going on any coin. The rationale is that once all the coins are minted, there will be more in circulation and thus more transactions and more tx fees. Those fees are supposed to subsidize the miners. The crazy thing that will probably happen with bitcoin is that towards the end, there will probably be huge hashes fighting for the last coins. That will push up the difficulty and then they will probably fall off when those last coins are minted, I think, leaving the difficulty stuck too high for a while. That is a ways off though, so maybe something will be done about that, or there already has been something done and I just haven't heard about it or haven't understood it fully.

But with the case of this coin. If all were minted in 2 weeks, there wouldn't be many services set up for people to spend their coins at, so there would be minimal transaction fees and hardly any incentive to mine at all.

This would be a good way to find out.

Generally transaction fees should keep the miners busy. But who knows?

Lets do it and see what happens next.

Build it and they will come.