crypto Do cryptos consume themselves in the miners themselves?

[Keith700 1885]

Have you not realized that the miners will end up monopolizing all the units of any cryptocurrency in their chain? That is, if users use 100% of the currencies in the network when the last unit of “X” cryptocurrency has already been mined, I have the idea that it would take a few years between transaction after transaction for it to auto consume and monopolize the fee to the miners, is this a reasonable theory ?, of course, this would take many years and there is still the first to demonstrate this phenomenon however if what I say is so, this implies that it is a hidden risk to Long term in a very reckless way, I await your opinions!

[Bills 583]

The miners represent those people who only extract digital gold without knowing many times the scope of the technology and intrinsic market that bitcoin represents.

[Thekingcallme 1975]

There will be no problem in the future after the completion of the extraction of all units and pieces of currency, for example, the currency of etherium has been extracted all its currencies and are working perfectly and there are no problems

[Zzoro6110 19]

When the miners finish mining in Bitcoin they will move to other currencies and so there will be no problems

[bentayebsalah 2280]

I am a trader and so I have a good idea about mining and I think it is difficult as well as it needs a lot of devices and a great strength

[Bills 583]

3 hours ago, Hashimi said:

I'm not a miner myself but the general consensus seems to be that in order for hash rate to increase the marginal cost of production needs to be less than the market price of bitcoin. Miners will definitely have their day in the sun again. So consuming btc not apply to them.

I would love to be a miner, they earn without practically doing anything, just keeping their machines in good condition while generating juicy bitcoins.

[Crypto123 0]

Theoretically, the matter is correct, but it is practically unreasonable, because miners also need to exchange the coins that they obtain, otherwise what is the benefit of this coins, it is inconceivable that the miners remain holding the coins until the end of mining, otherwise how do they get their salaries.

[rajonmia 181]

On 11/5/2019 at 9:10 AM, Bills said:

The miners represent those people who only extract digital gold without knowing many times the scope of the technology and intrinsic market that bitcoin represents.

You are right. Another think is miners always attract people for joining this crypto world. Because minining sector never give us a big amount. That's why many people want to earn more profit in this sector. Then they join crypto world.

[Amirul Islam 382]

On 11/5/2019 at 7:38 AM, Keith700 said:

Have you not realized that the miners will end up monopolizing all the units of any cryptocurrency in their chain? That is, if users use 100% of the currencies in the network when the last unit of “X” cryptocurrency has already been mined, I have the idea that it would take a few years between transaction after transaction for it to auto consume and monopolize the fee to the miners, is this a reasonable theory ?, of course, this would take many years and there is still the first to demonstrate this phenomenon however if what I say is so, this implies that it is a hidden risk to Long term in a very reckless way, I await your opinions!

I think there is a gap between of some years when bitcoin miners reward gone half. In future I think all miners reward will be zero. And there won't be any miners.

[Captain Karim 0]

This is unrealistic, miners cannot finally get bitcoin for these few fees being paid to them. If you look well at reality, even these fees they will pay people for goods or special needs for them and the circle will revolve again.

[Opinder 1310]

On 11/5/2019 at 7:08 AM, Keith700 said:

Have you not realized that the miners will end up monopolizing all the units of any cryptocurrency in their chain? That is, if users use 100% of the currencies in the network when the last unit of “X” cryptocurrency has already been mined, I have the idea that it would take a few years between transaction after transaction for it to auto consume and monopolize the fee to the miners, is this a reasonable theory ?, of course, this would take many years and there is still the first to demonstrate this phenomenon however if what I say is so, this implies that it is a hidden risk to Long term in a very reckless way, I await your opinions!

I did not understand what do you want to ask?. Please explain in proper way. I think you are asking that miners would monopolize crypto currency. But I think only people who have more amount of coin could dominant market. So only miners with huge amounts could monopolize a crypto coin not every miner.

[Shaza Ahmad 1682]

I do not agree with you, what will miners do with fees? They will exchange it for the goods for sure and so Bitcoin will be move among people, Bitcoin cannot be fully monopolized by miners.

[tienda 8776]

I dont see how the cryptocurrency consume themselves, I think the unique who can do that are the wales, if they will buy all Bitcoins that exist in the market and they will hold them, is possible will encounter a very bad situation.

[BrolySSJ 7899]

I don't think that this will be a problem. I think that when bitcoin mining is stopped or halted, that the people that are currently mining the coin will simply move onto another crypto that they will be able to mine profitably and they could probably use the same equipment to do so. Furthermore, there will be some miners that will still be needed in bitcoin, in order to facilitate the transactions that would need to take place.

[CryptoMaxim 2372]

It is hard to say for sure now until the last block is found. I think after that the Commission for transfers will change a lot.

[bliznec 22268]

Of course, those who mine Bitcoin should pay for using electricity. Bitcoin mining costs should be covered. Miners pay in this way out of everything mined. 

[iloveyobit 6599]

I think that this cannot happen because the miners need the money to pay the mining expenses and from there they will continue to mining the bitcoin until the available quantities are finished.

[BTC Future 3946]

Actually most altcoins are held by miners at a rate more than 90%. Although most of them as well have been pre-mined by the team that created them and just hope another altcoin rally will happen to dump their billions tokens to clueless investors as they did in 2017. I bet they have charlie lee's portrait hunging on the wall above their screens and hoping to be multimillionairs as well.

[Laboni 755]

Mines help raise the value of the currency. Cryptos do not eat themselves in mining but try to improve themselves through competition. They always try to get up. Many traders later face losses. They are not able to easily understand the use of these mines.

[Rezort 846]

To be honest, I cannot quite understand how miners can control fees on transactions, they just get rewards for mining, perhaps I am wrong and would like to see a reply.

[TimopheyKa 3900]

I think so, because miners play a very big role in the market field! And, in General, the future of cryptocurrency depends on most of their work, because they mine it, and in fact, give it to other users, exchanging it for Fiat or other currency

[magd 5231]

I do not think that this opinion is correct because miners, when they extract cryptocurrencies and withdraw them to the trading platforms or store them in the portfolios, release these currencies in the trading market, and therefore these currencies will not consume themselves in the long run unless they lose large amounts in unknown mines

Edited June 13, 2020 by magd

[Cryptomint 433]

Yes you are right. It can be. When a crypto currency totally be mined so it will not in the hand of the miners and then will show its own self.

[Ridam 7455]

Actually if all currencies of a particular network are minted then there is still lot of work of miners. There will be huge amount of that Crypto in the market at that time and the transaction that are going through needs to be verified and miner will do that.

[Mella 3680]

I am did not known about what you were say my dear and maybe you can be right about that, I am hope the miner will not make a lot of coin so much to control everything in a blockchain but there are some cryptocurrencies even top that have developer and miners hold too many of them to be in power.