Elvis Nuno on Nostr: I don’t think anyone questions the success of bitcoin as a project (and a grand ...
I don’t think anyone questions the success of bitcoin as a project (and a grand experiment). There is little doubt that mining will continue to be extremely profitable (the visa and Mastercard networks sure are).
The question is what will be what the biggest market, network, and blockchain development initiatives will have on the mining sector.
As things stand, a large part of what miners use to determine profitability is a static block reward from newly minted coins. Once that it no longer a factor the things that determine the probability of each block (and the volume of transactions in each block) are determined by an increasingly large number of variables that are notably not as predicable as the assured X number of minted coins per block.
Once all coins are mined it becomes a very different game.
What that game ends up looking like is a very big question mark that we can only guess at.
The question is what will be what the biggest market, network, and blockchain development initiatives will have on the mining sector.
As things stand, a large part of what miners use to determine profitability is a static block reward from newly minted coins. Once that it no longer a factor the things that determine the probability of each block (and the volume of transactions in each block) are determined by an increasingly large number of variables that are notably not as predicable as the assured X number of minted coins per block.
Once all coins are mined it becomes a very different game.
What that game ends up looking like is a very big question mark that we can only guess at.