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I believe the idea is that mining was a solution for launching BitCoin, and that as BitCoin has become more popular, the value of mining has gone down, meaning
by corin_ 16y ago
I believe the idea is that mining was a solution for launching BitCoin, and that as BitCoin has become more popular, the value of mining has gone down, meaning that at some point (I don't know if it's already happened or not), mining won't be worth the returns.
- dfox 16y agomining has to be worth the returns, because without mining the network will not work. It is not about generating BTC, but about estabilishing verifiable historical record of performed transactions. It is expected, that when value of one block will go down, miners will make profit from transaction fees.
- lutorm 16y agoThis is one thing that does seem to make sense: If mining isn't worth the return, then people will stop, and the returns will go up. It should adjust itself to whatever return people think is necessary to bother.