Post
Topic
Board Mining speculation
Re: when bitcoins max out and miners are paid from fees.
by
Kluge
on 22/04/2014, 08:10:32 UTC
What happens if 1 company or person controlls over 90% do miners move to another coin or just use bitcoin?
Most miners move to coins where it's profitable to mine, so I'd guess they switch (assuming you buy the premise that tx fees alone will not be able to fund a safe, decentralized blockchain, and one person or company's going to swoop in and threaten the coin they're mining by capturing 90% of hashpower). Whether or not they use the coins they mine or use one of the auto-converting pools where the coins are automatically traded to BTC which they'd then use for actual transactions is hard to say, and probably heavily dependent on the fungibility and merchant adoption of the coins.