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I've always wondered what Bitcoin would be worth if (1) Nuclear war destroys the internet or cloud servers (2) Mining costs more than its worth and no one mines
by coldcode 9y ago
I've always wondered what Bitcoin would be worth if (1) Nuclear war destroys the internet or cloud servers (2) Mining costs more than its worth and no one mines any more (3) It becomes impossible due to legal or other reasons to convert bitcoin to a real currency without extra-legal efforts.
- qsucvatz 9y agoIf mining is too difficult,the difficulty drops, until a single PC is finding every block on schedule. I'll mine, so that won't happen.
- nlh 9y agoSo I guess I'd say my point is that you say "I'll mine, so that won't happen" NOW, which is both fair and rational. But let's say tomorrow we discover a critical vulnerability in the bitcoin source that's been overlooked and causes the whole thing to be destabilized and, effectively worthless. Everyone moves on to BTC 2.0 (or whatever the fork is). Will you still mine original BTC? No. Why would you? It'd be a waste of resources.