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1. Early bitcoin users shoulder more risk than later users. They are rewarded for pushing the blockchain forward. You could argue disproportionately, but the
by whataretensors 9y ago
1. Early bitcoin users shoulder more risk than later users. They are rewarded for pushing the blockchain forward. You could argue disproportionately, but the rules are set in stone from the beginning.
3. There are other coins that do not require asics or have as high of energy cost.
5. What exactly is a government going to do? They could perhaps take control of the chain? The cost would be enormous. They could attempt to crack quantum, but some quantum-resistant variants are coming out.
An alternative view is that this is just the free market expressing itself through cryptocurrency - at a higher resolution than we've seen before.
- thebokehwokeh2 9y ago> An alternative view is that this is just the free market expressing itself through cryptocurrency If anything, the bitcoin experiment has shown how easy it is for entities with disproportionate amounts of wealth to completely overwhelm and game a free market.
- 0wing 9y ago1. The Bitcoin algorithm gave early Bitcoin miners much more of the supply for measurably less work/capital costs. Satoshi designed the supply to go almost entirely to early adopters. Just as easy the algorithm could have been designed to match work input with reward output, but instead all later users must work harder to earn less. 5. Ban exchanges, make sales/purchase illegal like how localbitcoin dealers being arrested for money transmission violations.