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Author Topic: Mining is Dead: How Do U Incentive transaction servers?  (Read 2187 times)

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Offline emma.lee1890Topic starter

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Mining is Dead: How Do U Incentive transaction servers?
« on: December 01, 2018, 12:37:25 PM »

Mining is DEAD, and its not coming back, difficulty will remain high, because 100K S-9's in CHINA will be re-deployed as $10/ea space heaters. Re-purposed for the pure purpose of mining for 'pristine' keys, not handling transaction.[ Billions of dollars of Pristine 'satoshi' addresses, still wait for some lucky person to crack their key; The best part is all these addresses include public-keys, which makes the DLP problem super trivial/easy to solve when a HUGE number of servers are at task. ]
With no incentive to run full tx-index servers, and no incentive to handle transactions, what is the hope in the future of bitcoin transactions?


ZenCash has a good model, of paying people in Zen to run secure-nodes, and super-secure-nodes, but I don't see any incentive for running transacction servers in the bitcoin world, Difficulty will not go down, but people will be people, and given that you can't mine properly there is no incentive to process transactions, the only utility is running an S-9 as a space heater and hoping it find a bitcoin every two years, at the current difficulty.


The original idea of Satoshi's bitcoin, was that everybody ran a full-node and processed transactions, and every 10 minutes, somebody found a block, and by consensus +51% that block was accepted, and that user-address got credited and validated in time. In the future, most of the re-deployed S-9 miners ( and all the clones and earlier versions ) will be redeployed to scan for 'lost pristine' satoshi coins, which are where the REAL MONEY is at, the CHINESE are not stupid, what's the point of running a space heater to maybe find a bitcoin, when you can run the heater as a LOTTO, and maybe get 50 bitcoins.


So what's the plan by BITCOIN-CORE community here to address the issue, we know there is a scaling problem, we know that the current bitcoin server network can't handle traffic, so how in the hell is all this going to work in the near future where MINING IS NO LONGER PROFITABLE, like it is now.


Offline Areding

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #1 on: January 21, 2019, 05:24:36 AM »
Who told you that mining is dead? Where did you get that from? Yes, bilding a farm is not profitable now but it is profitable to mine until the price of Bitcoin is higher than the cost of the resources expended for its mining=)

Offline VladEx

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #2 on: February 19, 2019, 06:00:40 AM »
Who told you that mining is dead? Where did you get that from? Yes, bilding a farm is not profitable now but it is profitable to mine until the price of Bitcoin is higher than the cost of the resources expended for its mining=)
Agree, people have a tendency in case of difficulties to immediately give up

Offline Meadow

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #3 on: February 25, 2019, 06:09:21 PM »
Are you, guys, experiencing any difficulties with bitcoin transactions? I don't have BTC yet but all this stuff happening to mining is really threatening.

Offline tepu

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #4 on: March 28, 2019, 09:04:40 AM »
Mining is not dead, I don't know where did you get that from.

Offline tepu

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #5 on: March 29, 2019, 07:40:23 AM »
It's not dead, but it's difficult to be profitable if you're mining just bitcoin.

Offline Meadow

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #6 on: March 29, 2019, 05:00:13 PM »
Does it take the longer time to process now? Have you noticed anything?

Offline kventin.upgrade

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #7 on: April 14, 2019, 07:57:07 PM »
I think it all depends on the cost of bitcoin. If BTC is very expensive, then the mining will live, but in a completely different way with other technologies.
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Offline Meadow

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #8 on: April 24, 2019, 01:06:42 PM »
I think it all depends on the cost of bitcoin. If BTC is very expensive, then the mining will live, but in a completely different way with other technologies.
Yep, different types of mining and often it works without mining at all now

Offline VladEx

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #9 on: April 29, 2019, 02:46:52 AM »
I think that companies will come up with new ways of mining, so in the end, mining will not die

Offline Meadow

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Re: Mining is Dead: How Do U Incentive transaction servers?
« Reply #10 on: May 02, 2019, 01:16:19 PM »
I think that companies will come up with new ways of mining, so in the end, mining will not die
There are many types of consensus that do not require mining at all and many coins already work with it


 

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