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To me, at least, bitcoin isn't about a lottery and it isn't about winning. It's about laying the framework for the foundation of an open and secure currency.
by maqr 15y ago
To me, at least, bitcoin isn't about a lottery and it isn't about winning. It's about laying the framework for the foundation of an open and secure currency. Who cares, in the long run, who won the most coins right now? I don't think many people have large stakes of bitcoins that they're hoping to get rich off of.
The mining cost should eventually be reflective of the value of the features of the cryptocurrency. In other words, if you want pseudoanonymous secure p2p transactions, buying bitcoins is like paying for that service. Who's providing the service? The miners, which are just the people keeping the network running so that others can use it.
- sethg 15y agoWho cares, in the long run, who won the most coins right now? In the long run, people with a lot of coins tend to get even more coins. I don’t see why I should participate in an “open and secure currency” that benefits people who let their hardware run wild doing mathematical operations which, outside the currency system itself, are pointless. At least gold has some aesthetic and industrial value.