Quote from: BrandonMcPherson on February 11, 2014, 01:26:10 AM

Quote from: Trongersoll on February 10, 2014, 09:09:02 PM

Quote from: BrandonMcPherson on February 10, 2014, 09:03:19 PM

I expect commercial interests to take over the role of mining once the number of coins per block diminishes enoughthe value of BTC will define was "diminishes enough" means. Certainly within 20 years, probably sooner.

Mining for transactions fees will become a low margin business, and as such will be handled by corporate interests who can invest enough on the infrastructure side to maximize profits. I could definitely see exchanges (or whatever replaces the exchanges) engaging in this as not only a side business, but a service for their users to ensures fast transactions.

So say I from my Throne of Prognostication.

I disagree. I suspect that when it gets to the point where it is just transaction fees, or close to that, and the exchange rate hasn't compensated for it, then it will be the Hobbyists and people who just just want to support the coin that will remain. The big guys will move on to the next big thing. I can see a day when there are so few miners mining that people will be able to solo mine with a reasonable variance.

Let's meet up in 20 years and compare notes.

I'll have to pass on that invite. I doubt that i'll live that long. Tongue