4) Txs, Txs Txs. By the time all Bitcoins have been mined, the transaction fees will make it worthwhile for the miners (Satoshi's white paper)
I don't think you even need to look that far ahead. If Tx fees haven't reached
BTC12.5 per block by the time the reward halves again,
BTC is probably dead in the water.
what are you talkingggg about?! that will actually be a really good thing. tx fees will be negligible PER transaction but if a block has 5000 transactions and packs a nice neglible fee per amount of bitcoins sold it PROVES that bitcoin works well. and keep in mind if bitcoins are worth a lot of money than even 5 bitcoins per block could be worth thousands
Thousands might not mean as much when mining equipment costs tens of thousands.
by that time, mining equipment will be much more efficient and cost less too and friedcat will have solar panels powering his operation
And we'll all be living on clouds and drinking wine from golden chalices, and everyone will love each other and war and sickness and poverty will be nothing but the bedtime stories of a forgotten past for our beautiful children.
Or, perhaps, mining equipment will be
more expensive because maintaining 20% of the hashrate will be
much more difficult, and solar panels will still be as unreasonable in a few years as they are right now? Understand: his operation already gets $0.06/kWh, but that can't compete with upper Washington state ($0.01/kWh). Also, solar panels sorta don't work at night, and I bet you don't want to give up half of your income.