People will always mine because they will be rewarded with transactions fees. When BTC is $1,000,000 even a tiny Satoshi reward will make it worth it. Many blockchains like Waves and Ripple operate just fine with no new blocks being mined.
There are whales out there who sit on 1000s of BTC. Do you think they will sit aside when miners won´t mine BTC anymore and let there wealth go down? They could afford building mining rigs by themselves easily. Maybe they did already and keep them as contingency plan, ready to mine if needed. OK pure speculation, but if I were a BTC millionaire, I would.
The whales could simply buy BCH on a exchange and use their mining rigs on BCH. They will get richer; no need for contingency. I'm more concerned about the mining pools. Also there is the case of cloud mining contracts.
I personally expect more of slow and gradual death for Buttcoin like Valeant Pharmaceuticals or J. C. Penney but happening in a much faster pace.
I used to think you were simply uninformed. But now I think you are some blind idiot. BCH briefly went over $1000 and I predicted few days ago that BCH will become stable over $1000 by the end of the year while BTC never going further than $5000 milestone(I should have given a lower number in hindsight).
BTC is destined to die. I predict below $5billion market cap by 2020. You are nothing but an idiot who doesn't look at fundamentals and facts. I suggest you put all your savings on BTC and HODL. That will teach you a lesson.
People will always mine because they will be rewarded with transactions fees. When BTC is $1,000,000 even a tiny Satoshi reward will make it worth it. Many blockchains like Waves and Ripple operate just fine with no new blocks being mined.
If you like centralized systems like Ripple and Waves, why not just invest/use Visa or ApplePay?
Not sure how Waves is centralized. Either way the point is that you don't need to have a PoW system.
91% of last 1000 bcash blocks were mined by one miner - and you're talking about centralization in bitcoin?:D
I see, but seems very unlikely. It would hurt the miners too, wouldn´t it?
Miners would just switch to Bitcoin Cash, which half of them already want to do anyway.
There are whales out there who sit on 1000s of BTC. Do you think they will sit aside when miners won´t mine BTC anymore and let there wealth go down? They could afford building mining rigs by themselves easily. Maybe they did already and keep them as contingency plan, ready to mine if needed. OK pure speculation, but if I were a BTC millionaire, I would.
Those whales also have equal amounts of Bitcoin Cash.
The whales could simply buy BCH on a exchange and use their mining rigs on BCH. They will get richer; no need for contingency. I'm more concerned about the mining pools. Also there is the case of cloud mining contracts.
I personally expect more of slow and gradual death for Buttcoin like Valeant Pharmaceuticals or J. C. Penney but happening in a much faster pace.
Bitcoin unlimited, bitcoin XT, bitcoin classic... I don't see them taking place of bitcoin ;) bcash is just another attempt.
I used to think you were simply uninformed. But now I think you are some blind idiot. BCH briefly went over $1000 and I predicted few days ago that BCH will become stable over $1000 by the end of the year while BTC never going further than $5000 milestone(I should have given a lower number in hindsight).
BTC is destined to die. I predict below $5billion market cap by 2020. You are nothing but an idiot who doesn't look at fundamentals and facts. I suggest you put all your savings on BTC and HODL. That will teach you a lesson.
We'll see... Let me bookmark this post :)