Re:Bitcoin-Central.net is now licensed to operate as a bank ...
by wcoenen on Friday December 07, 2012 @04:14AM
(#4886170)
> It will half one more time then no more money for mining, it'll all be through transaction fees.
Wrong, it will halve 31 more times until the reward is 0.00000001 (i.e. the smallest bitcoin fraction that you can currently have) around the year 2136. Only after that will it "halve" to nothing.
If this comes true, the bitcoin system is in trouble. Block reward is down to 25 bitcoins a block. It will half one more time then no more money for mining, it'll all be through transaction fees.
If people are just storing bitcoins and not using them, there wont be enough transaction fees and lots of miners will drop out, making the system more vulnerable to takeover by government or malicious miners.