Originally Posted by
IlPrincipeBrutto
Kudos to Subby for the clear explaination.
So, Bitcoins are created as a byproduct of the transaction verification process.
Also, by design, there is only a limited number of Bitcoins that can be created.
What happens after the last Bitcoin has been mined?
I mean, once all Bitcoins are created, there is no incentive left to do the clerking work to verify a block of transactions, apart from the small 'tips' Subby mentions.
Which, imho, means that either transactions stop being verified, of the tips required to get your transaction approved will become very substantial.
I wonder if anyone can shed some light on this.
Thanks in advance.
IPB