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re: Official CryptoTalk Thread
Posted on 12/7/18 at 8:56 am to SlowFlowPro
Posted on 12/7/18 at 8:56 am to SlowFlowPro
How much does it cost to mine 1 bitcoin? I've seen average estimates between a little over $2k to almost $5k. If that is true, what happens when the price drops below the cost of mining the bitcoin? How is the system maintained without miners?
1
Posted on 12/7/18 at 12:06 pm to PearlJam
The miners get transaction fees for processing transactions in exchange for supporting the network.
2020 summer is the “halving” where the bitcoin mining rewards are cut in half. Don’t know what will happen then.
Fixed: It’s the LiteCoin halving next August.
2020 summer is the “halving” where the bitcoin mining rewards are cut in half. Don’t know what will happen then.
Fixed: It’s the LiteCoin halving next August.
This post was edited on 12/7/18 at 12:39 pm
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