Re: Where does the money come from when mining?

[irb]

What is the actual likelihood that all of these 21 million BTC will be found? It seems to me, and I am not a mathematician, that at some point the time and cost of mining will be greater than the value of the bitcoins left to be found. I don't feel too bad asking such a newbie question, this being the newbie forum, so: what happens then? Is there an "Official Plan"?

[irb]

I don't feel too bad asking such a newbie question, this being the newbie forum, so: what happens then? Is there an "Official Plan"?

I might add that directions to where these questions might be answered are also gratefully accepted.

[theymos]

The difficulty (and therefore cost) of solving the problem is automatically reduced by the system if people stop mining.

[jalidi]

It's estimated about half of the 21 million will be crunched out by 2013 and about 3/4th of the total by 2017.

It'll take about ten years to create all 21 million and we're only a quarter of the way so far.

Unless the currency is devalued to nothinginess or banned, there's a good chance all 21 million will be made.