If we accept nowadays that we will still be using BTC after all mining be done (21 M coins), as the miners will continue the blockchain by earning the transaction's fees, why dont we accept that we in fact dont need to mine theses coins at all?
We could stop at this present moment (@ ~12 M coins) and prevent spending all this energy and resources to mine virtual coins. Instead, miners could use the money of buying ASICs and stuff to invest in Bitcoins startups that solves real problems like security and education of use.
A "great" consequence of this would be that the BTCUSD price would go up since there would be far less offer of coins (~ theoretical double, 12M/21M).
I would like more experienced btcoiners to explain to me why this isnt good.
Regs
Lyhue
We could stop at this present moment (@ ~12 M coins) and prevent spending all this energy and resources to mine virtual coins. Instead, miners could use the money of buying ASICs and stuff to invest in Bitcoins startups that solves real problems like security and education of use.
A "great" consequence of this would be that the BTCUSD price would go up since there would be far less offer of coins (~ theoretical double, 12M/21M).
I would like more experienced btcoiners to explain to me why this isnt good.
Regs
Lyhue
Because this is impossible, because the community wouldn't accept it. The same reason Bitcoin is secure from future debasement — no central planners to decide to print more, or arbitrarily change things to suit their purposes — is the same reason this wouldn't happen. 21M and 128 years or whatever isn't "perfect" but it was a good guess at a set of parameters that should work, as a jumping off point. If someone could change that (without creating an "alt" chain, which certainly is permissible, so go nuts) then Bitcoin would be a broken concept.
