Bitcoin thread, jump in

[freecartoonporn]

i see loads of bfl ads on many sites. and i read the number of bitcoins are limited.
21 millions

and 10+ million bitcoins are alraedy mined without asics, and asics are changing the game, mining is super fast.


so whats the use of the ASIC miners , after all bitcoin are mined ? which are obviously made just for bitcoin mining.

you can still use the gpu for gaming and stuff but wont asics be dead ? or can they be used for other stuff ?


thanks.

[dyna mo]

more blocks in the chain will still be created after all btc is mined. ::::::::::


the use of transaction fees will likely make creating new blocks more valuable from the fees than the new coins being created. When coin generation ends, these fees will sustain the ability to use bitcoins and the Bitcoin network. There is no practical limit on the number of blocks that will be mined in the future.

[edgeprod]

Originally Posted by freecartoonporn

i see loads of bfl ads on many sites. and i read the number of bitcoins are limited.
21 millions

and 10+ million bitcoins are alraedy mined without asics, and asics are changing the game, mining is super fast.


so whats the use of the ASIC miners , after all bitcoin are mined ? which are obviously made just for bitcoin mining.

you can still use the gpu for gaming and stuff but wont asics be dead ? or can they be used for other stuff ?


thanks.

You're misunderstanding how the algorithm works. As mining gets faster, the process to mine a coin gets harder. It self-adjusts to the speed of the miners, to keep things consistent.

You're understanding ASICs correctly, though: an ASIC, by definition, is useless when its job is not longer applicable. Why is that a problem? Do you expect your 486 PC to have utility now in today's market?