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That does not work out. The total numbers of Bitcoins that will ever be mined is finite but miners will have to pay their electricity bills forever (or at least
by danbruc 11y ago
That does not work out. The total numbers of Bitcoins that will ever be mined is finite but miners will have to pay their electricity bills forever (or at least until Bitcoin ceases to exist). The only way that miners could cover their costs would be that the price of Bitcoins goes to infinity which is of course a bad thing. And a Bitcoin is mined only once but can be transacted an unbounded number of times. The costs occur at every transaction because transactions require the Bitcoin network and therefore you have to pay for transactions. I completely understand and support your desire to have a system that does not allow a minority to get rich without doing much work but Bitcoin won't be this system.