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Not to sound like a free market idealist here, but don't market forces keep this in check? In general, miners won't mine unless there is a financial incentive
by thadjo 9y ago
Not to sound like a free market idealist here, but don't market forces keep this in check?
In general, miners won't mine unless there is a financial incentive to do so. as Bitcoin matures, that financial incentive maps closely to an overall demand for a store of value (plus the nifty features of crypto).
I would see your point more clearly if miners really were wasting energy–using energy to calculate hashes that weren't financially valuable–but I don't see that happening right now.
- BoiledCabbage 9y ago> I would see your point more clearly if miners really were wasting energy–using energy to calculate hashes that weren't financially valuable–but I don't see that happening right now. For every river you pollute I'll print another $10 bill and hand it to you. Clearly this isn't wasteful because it's financially valuable. /s This logic doesn't hold up to reason.