What happens when all coins are mined?

General
1

Hey guys,

So here’s my question that is up for debate. What happens when all coins are mined ? Does the Economy of the coin become completely inflation free ?

If so, that would be amazing and revolutionary.

To quote Satoshi’s whitepaper in regards to Bitcoin:

Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free.

Your thoughts are encouraged :slight_smile:

2

For Peercoin, it’s going to be a few years before we reach the current cap of 2 billion peercoin. I’m probably off by a multiple, but my rough calculation puts that event in roughly 650 years, at the known rate of monetary inflation.

3

Now is that 2 billion PPC going to be created by miners & minters together or is there a coin cap for miners and the rest of the way to 2billion will be created by minting ?

4

There is no mining cap, so it’s a combination of PoS and PoW. Miners never are phased out by the protocol, but eventually they reach a point of nomomial equilibrium, where the block reward is only a fraction larger than the energy cost to mine + transaction fees.

5

Good to know. I think that’s great that natural forces will cause the miners to cap themselves.

6

[quote=“JetJet13, post:1, topic:2012”]Hey guys,

So here’s my question that is up for debate. What happens when all coins are mined ? Does the Economy of the coin become completely inflation free ?

If so, that would be amazing and revolutionary.

To quote Satoshi’s whitepaper in regards to Bitcoin:

Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free.

Your thoughts are encouraged :)[/quote]

Nothing can be said with surety. Last bitcoin to be mined will be sometime around 2045

Long time… with options open.

All this mining has created a big market opportunity for GPU makers/ ASIC makers.

Personally, I am in favor of pre mined, more stable coin like XNF-NoFiatCoin which is at least backed by something real, tangible like bullion which people can redeem.

7

Anyone know how many ppc is produced per day and when it will be reduced again and when pow will finish and only pos minting left?

8

You are cross-posting. Is my answer in the other thread (as below) not adequate?

http://www.peercointalk.org/index.php?topic=2241.msg18398#msg18398

9

You are cross-posting. Is my answer in the other thread (as below) not adequate?

http://www.peercointalk.org/index.php?topic=2241.msg18398#msg18398[/quote]
Sorry but I still have one question. According to http://bitinfocharts.com/ppcoin/, there are 3336 ppc produced daily at the moment, but the chart also indicates there are 165 blocks last 24 hours and 107.33 ppc rewarded per block. Then the total should be around 17709.45 ppc per day, did I make any mistake here?

10

You are cross-posting. Is my answer in the other thread (as below) not adequate?

http://www.peercointalk.org/index.php?topic=2241.msg18398#msg18398[/quote]
Sorry but I still have one question. According to http://bitinfocharts.com/ppcoin/, there are 3336 ppc produced daily at the moment, but the chart also indicates there are 165 blocks last 24 hours and 107.33 ppc rewarded per block. Then the total should be around 17709.45 ppc per day, did I make any mistake here?[/quote]

The math mistake was that in the Peercoin network, a minority of the blocks are created by proof-of-work (which is currently rewarding 107.33 PPC/block). When I last looked, it was something like 28 PoW blocks and the rest were proof-of-stake (which could very small rewards).