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Bitcoin is created through the use of exponentially increasing amounts of energy (I daresay there's a 'crash' scenario where it doesn't expand that way and also
by Applejinx 8y ago
Bitcoin is created through the use of exponentially increasing amounts of energy (I daresay there's a 'crash' scenario where it doesn't expand that way and also doesn't retain value as currently expected).
Bitcoin is VALUED in a way similar to the stock market, where people collectively decide it's super good and useful because they're invested into the system. This process is exploitable, and is purely social engineering.
If it gets too big to fail, we're all in bad trouble, but we were already in trouble from many other things that have financially become too big to fail.