Re: Within 2 years, effectively 85% of all bitcoins are mined!
I'm not sure about 85% mined, have calculate diff. ?
And what will happen if bitcoin 100% mined
Miners will be competing for transaction fees...
I think this could potentially negatively affect the security of the network if not enough people are using bitcon by this time. If TX fees are not high enough then miners will likely not make enough to justify continuing to mine
But, if TX fee is high. People will only send his/her bitcoin if it's important
And what will happen if bitcoin 100% mined
Sometimes I wonder what will happen when all the bitcoins will be mined,like the king of coins will be gone from mining.How will it effect the crypto world then?
Miners will be competing for transaction fees...
But, if TX fee is high. People will only send his/her bitcoin if it's important
Tx fees can stay low, as long as many transactions are made.
Many low fees quickly add up. Even if fee is only a few satoshi, when there's thousands of transactions per second there will be millions in a block, reward from fees will still be worth it. And fees can still be lower than regular bank transactions.
But only if enough people use bitcoin in their everyday life.