Post
Topic
Board Bitcoin Discussion
Max Number of Bitcoins - Then What
by
xavier
on 23/04/2011, 14:12:16 UTC
Hey guys

MB this has been approached already, but I couldn't find it on the forums.

What happens when we reach maximum allocation of BitCoins?

Currently there are about 6m coins in circulation. I believe the maximum is 21m. I don't know the rate of creation, but I read somewhere than theoretically in 50 years time all the coins that can ever be created will be in circulation.

Question is: What then

At the moment, the nodes supporting the network are incentivised because they get paid a certain amount of coins per transaction, which they are allowed to create.

However when #BTC = 21m, nodes will not be allowed to create any more BTC.

So what incentives are there at that point for nodes to continue supporting the system?