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You think they aren't? Mining is a multi billion dollar industry.
by kobeya 9y ago
You think they aren't? Mining is a multi billion dollar industry.
- thephyber 9y agoI think co-opting suggests attacks on the consensus mechanisms or figuring out how to exploit Satoshi's abandoned wallets.
- woodman 9y agoSuch a move would instantly make bitcoin worthless - it would be more profitable for the attackers to put the computing power to mining. The only kind of party that would pose such a risk would not be interested in direct profitability: states.
- cm2187 9y agoThe term "industry" suggests they produce something, which in the case of bitcoin mining is questionable.
- deleted 9y ago[deleted]
- keymone 9y agothey produce security of distributed decentralized database and continued operation of payment platform on top of it.
- nosuchthing 9y agoThere's nothing really produced as there's no product, the software is running a service. Without the service, there is nothing.
- omarchowdhury 9y agoMining by definition produces cryptocurrencies, which is a 'product'.
- kobeya 9y agoNot after subsidy has played out. That's a temporary state of affairs. Mining provides economic cost of reorg as a product, something people in the bitcoin space call "security."
- keymone 9y agoand the payment system. you know, the actual thing that allows people to transfer a unit of value?
- keymone 9y ago> there's no product > running a service i don't know how to put it for you mate.. service can be a product? you know, like this site where people friend each other and share shit nobody cares about, what's it called.. facebook?
- ric2b 9y agoAnd since when have service industries stopped being industries?