Hi Ben - Yes it (in theory) continues. The mining pool is validating
transactions. The network fee paid (in bitcoin) for a transaction (of
bitcoin) will go to the miner. This is covered a bit in protocol discussion
of bitcoin and I would also recommend the podcast archive of let's talk
bitcoin' to learn hrough conversation, interviews etc some of the long-term
vision and detailed exploration of bitcoin's technical design.


On Wed, Apr 30, 2014 at 8:15 AM, ben <colypse@???> wrote:

> What happens when the last coin is mined? Does it need the energy power
> when it has solved all the problems? Or do they have to keep up the mining
> also after this?
>
>
> 2014-04-29 19:44 GMT+02:00 John Hebert <johnalexhebert@???>:
>
>> On Tue, Apr 29, 2014 at 12:05 PM, Joerg Platzer <joerg@???> wrote:
>>
>>> --->
>>> "Bitcoin mining was a weak point in the design though I can't think
>>> of a better solution. I think Satoshi underestimated Moore's Law and the
>>> impact of innovation driven by greed publicly justified by an intent for
>>> wide-spread adoption. I predict the 21 million bitcoin limit will be
>>> reached much sooner than 2140."
>>> <---
>>>
>>> No, you need to look into the mining mechanism and the adaption of the
>>> difficulty and once you understand that you will understand that math is
>>> not weak and that greed cannot beat mathematics and that Moore's law has no
>>> influence on that.
>>>
>>
>> Agreed, I need to know more about the mining mechanism. However, I didn't
>> say the math was weak. I should have said the biggest miners have more
>> influence. So far, the biggest miners and bitcoin holders worry me.
>>
>>
>>> Math makes the difficulty of mining adapt to the greed and that's not
>>> a "weak point in the design" but outright brilliant.
>>>
>>
>> "Adapting to the greed" sounds cool. If that is part of the bitcoin
>> design, then it is definitely political.
>>
>>
>>> ++jp
>>>
>>
>> John
>>
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