3 ms·
While you are right, I do not think truly understanding it is as easy as a few minutes of research. It was quite mind bending for me the first time I read about
by RealityVoid 6y ago
While you are right, I do not think truly understanding it is as easy as a few minutes of research. It was quite mind bending for me the first time I read about BTC.
- nikolay 6y agoI don't think you still get it. Do you?
- RealityVoid 6y agoHonestly, I think you really do not get it. Why would the loss of ability to mine lead to a price increase of Bitcoin? The mining efforts are driven by the price, not viceversa. I am certain you are familiar with it for a long time, but the way you put the problem kind of points out you are missing something.
- nikolay 6y agoBeing rewarded coins or earning fees is the same thing - without the incentive to mine, the whole system collapses.
- RealityVoid 6y agoThis is correct, but you did not address what I was saying - why would a reduction in hashing power lead to an increase in Bitcoin price, as you were suggesting here: " the bubble has inflated from $6K to $47K only because it's now harder to steal electricity in China and the rest of the world to mine bitcoins. " Also, I know who Paul LeRoux is but I find I highly unlikely he is satoshi.