What's going to happen once all the quarks are mined? Won't the miners stop mining therefore halting the blockchain and transfer of coins?
LOL i mean quark pretty much shot itself in the foot.
LOL i mean quark pretty much shot itself in the foot.
It never stops being mined. Apparently someone can't read.
The reward will drop dramatically. It means that to keep the network secure from a botnet you must keep miners mining. How ?
Nobody will keep mining if the electricity cost will be higher than the reward.
And even if the reward will be higher than cost it will be far lower than what miners can get from mining other altcoins.
That's why Satoshi came up with a halving idea over long periods of time, to allow transactions to grow in numbers and replace the block rewards, and it was a good one.
This is indeed interesting point of view but look at Bitcoin, if the price of 1 BTC would be $1 then anyone would mine it?
The question is if quark will naturaly achieve the price that will be worth of mining after 247mln coins.
I don't know that, I would like someone who is more into Quark technical details to answer that.
Is here some
one?
Even at the 1$ it will cover the cost in electricity for 1500 cointerra miners , 1,5 PH of hashing.
No botnet can provide this much hashpower.
http://mining.thegenesisblock.com/
Doesn't look like that.