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From Wiskipedia

There's a natural limit to how much coouptatimn will be applied. We can expect the cost of mining to approximately equal the price of the new bitcoins awarded. New bitcoins are a small portion of the bitcoin economy, and the proportion shrinks dramatically as time goes on.As bitcoins get pricier, it will become worthwhile at some point to build custom-designed ASICs to mine them. These will likely be much more power-efficient, but costly. In that case people will spend most of their mining investment on hardware, rather than electricity.