Quote from: deuxmill on July 01, 2011, 11:11:31 PM

Quote from: giszmo on July 01, 2011, 09:23:12 PM

Quote from: Grant on June 28, 2011, 11:04:23 AM

Quote from: deuxmill on June 28, 2011, 11:01:32 AM

I want one that ain't limited Roll Eyes

to 21 mill .

You want an inflationary currency ?

Plenty of alternatives, such as the USD.

@deuxmill: If BTC were not limited but continue to attribute 50BTC to each block found and taken the 50BTC were at 1500$ before, what do you think the power consumption would be like if the world switches over to BTC in 20 years?

Huge. I can only think of a huge rush to produce more electricity cheaper . What would be the power consumption if all cars would be changed with electric cars? We have the technology to produce enough power. The problem is that there ain't much incentive to produce much more power right now because it can't be stored. What will be the technology in 20 years ? 20 years is a really long period at today's pace i can only think it will accelerate.

i'm talking about mining power consumption. do you think it is justifyable to have 3MW already in btc today? i do but if price goes up by x100k, power consumption will do so, too and 300 nuclear power plants is not what i want to be needed to run bitcoin so for me it is ecologically essential to reduce the reward at some point. satoshi was maybe too pessimistic about global adoption of btc. we can only guess what the $-reward per block will be at the end of the 50BTC area. I imagine it could at least be 150.000$/block and i somehow doubt that satoshi really thought it would go that fast.

at that point, bitcoin will be the only lottery that cashes out about 100% of the money you put in as i doubt that many people will be participating at cash out rates of the established lotteries.