Post
Topic
Board Economics
Re: Energy Consumption of the Bitcoin Network
by
DannyElfman
on 02/07/2014, 21:31:35 UTC
I think one way to slow the growth is reduce the block reward from 25 coins to just 1 coin per block, there is no way the BTC price will jump 25 fold to compensate as more then half the coins are already mined so there is no shortage of supply, and no reason for that much fiat to enter the market.
Great minds think alike (you and Satoshi)!  In fact, the block reward will be reduced to just 0.78125000 BTC per block in about 2033. 

See entire schedule here:

Code:
       Original      BTC per
Era  start year        block
---  ----------  -----------
  0        2009  50.00000000
  1        2013  25.00000000
  2        2017  12.50000000
  3        2021   6.25000000
  4        2025   3.12500000
  5        2029   1.56250000
  6        2033   0.78125000
  7        2037   0.39062500
  8        2041   0.19531250
  9        2045   0.09765625
 10        2049   0.04882813
 11        2053   0.02441406
 12        2057   0.01220703
 13        2061   0.00610352
 14        2065   0.00305176
 15        2069   0.00152588
 16        2073   0.00076294
 17        2077   0.00038147
 18        2081   0.00019073
 19        2085   0.00009537
 20        2089   0.00004768
 21        2093   0.00002384
 22        2097   0.00001192
 23        2101   0.00000596
 24        2105   0.00000298
 25        2109   0.00000149
 26        2113   0.00000075
 27        2117   0.00000037
 28        2121   0.00000019
 29        2125   0.00000009
 30        2129   0.00000005
 31        2133   0.00000002
 32        2137   0.00000001



The theory is that there will be enough TX volume that TX fees make up for the lower block subsidies over time