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Mining can only become unprofitable for a while: Until the difficulty is adjusted. There is a whole industry depending on Bitcoin. If mining becomes unprofitab
by TekMol 8y ago
Mining can only become unprofitable for a while: Until the difficulty is adjusted.
There is a whole industry depending on Bitcoin. If mining becomes unprofitable, there will be players that pay for the mining to continue until the difficulty adjusts. To keep their companies alive.
There is also another counterargument. One that does not only apply to the problem of mining but to any problem with Bitcoin in general: If a hard problem occurs, it is very likely that the industry would collectively switch to a fork.
For me, the value of Bitcoin is mainly rooted in that fact. Bitcoin is widely spread. So it will probably be the seed for future currencies that one day will be more valuable then the original.