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> the stability of bitcoin comes from the miners and the difficulty setting The mining system controls the supply, not the value.
by brucephillips 9y ago
> the stability of bitcoin comes from the miners and the difficulty setting
The mining system controls the supply, not the value.
- slededit 9y agoOnly in the short term. The difficulty adjustment eventually makes changes in mining capacity moot.
- brucephillips 9y agoI consider the difficult adjustment to be part of the "mining system". My point is that BTC self-regulates supply, not value. Value is determined by the (volatile) market.
- JepZ 9y agoAnd I thought 'supply and demand' define 'value'. So when you control the 'supply' you should be able to control the value to some extend. Granted, as the mining system can only add coins the control is limited.