Quote from: realdope on September 22, 2014, 05:52:21 PM

Quote from: TradersWay.JC on September 22, 2014, 04:02:42 PM

No one will be mining in 70 years unless Bitcoin is worth a ton of money. So it is do or die for the Bitcoin exchange rate. Otherwise we will never mine all of them.... unless we will have a difficulty decrease Wink

You don't get it. There will always be someone doing the job, because if few people are doing it, the ones doing it will get a lot of reward. It gets itself balanced. Satoshi had it all planned.

I think his point is that the block reward will be very little in 70 years (and is also predicting that TX fees will not increase substantially) therefore even with a low difficulty there would not be much money to be made via mining unless the price of bitcoin is very high.

I personally think that TX volume (and TX fees) will increase substantially over the years making the block subsidy less important