What happens when all the burstcoins are mined ?



  • Hello people of the community.
    Hope everyones doing good, specially after the spike in trade volume yesterday across exchanges.
    I was just wondering, what will happen once the remaining 29% of the Burstcoins are mined ? The HDDs would still have to run to support the network, but after the coins are all mined, and people decide to stop the HDD mining so they can use the HDDs for other purposes, what would happen to the coin?

    I don't know if this has been discussed or mentioned in the documentation anywhere, but google did'nt want to give me any answer on this.


  • admin

    The Block reward is a decreasing function. Degression is 5% a month.

    Now we have a block reward every 4 minutes of around 2900 Burst. In six years the reward will drop to 320 Coins per block. In my opinion price and network size will equilibrate. See the price rise of Bitcoin before the Bitcoin halving.
    So mining keeps being profitable in the future, too.

    Don't forget that the transactions fees are also 'mined'. This pile of the mining reward can exceed the block reward in the long run.



  • Thanks! I appreciate the response.



  • @daWallet said in What happens when all the burstcoins are mined ?:

    ...
    Don't forget that the transactions fees are also 'mined'. This pile of the mining reward can exceed the block reward in the long run.

    Here i have a question. Is the transaction fee of 1Burst a constant value? If so let´s imagine that 1 BURST is worth 1USD in the long run. So nobody would pay 1USD (=1BURST) transaction fee for a payment?!


  • admin

    @piezo It crossed our minds, too.

    It is just one variable in the code but I guess that would be a soft fork. Edit: It would be a hard fork

    If someone pays 0,1 Burst per transaction (possible in a new version) or 1 Burst per transaction and the Block is 'full' ... the higher fee transaction gets processed first. The lower fee transaction has to wait until in the next Block.

    I guess we are fine for a long time. Till 1 Burst 1 penny at least to start a discussion. In general our fees will always be lower than bitcoins, because the operating costs (OPEX) of the whole network are much lower.