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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