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It makes sense, People will keep buying and adding computational power until the return on running the machines is lower than the cost of electricity. when the
by swalsh 9y ago
It makes sense, People will keep buying and adding computational power until the return on running the machines is lower than the cost of electricity. when the "cost of a bitcoin" rises faster than the cost of electricity it can directly lead to an increase in use. So unlike any other thing we run on computers for profit... bitcoin has a direct cause and effect relationship.
- glenstein 9y agoPeople feel their computers return value in all sorts of ways that have zero connection to a monetary return on investment. The value of being able to communicate, to do research, to store their cat pictures, etc. No one is isolating out the marginal added value of additional cat pictures and measuring it against the cost of electricity. And even for the small subset of computer users just interested in bitcoin mining, they just have to know their own electric bill, not the resource usage across the entire network. So I'm not entirely sure what you're talking about.