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if it costs $1 go buy then it is worth spending $0.99 on mining it. the more expensive it becomes the more it consumes. its basically a paperclip maximiser. I
by casi 6y ago
if it costs $1 go buy then it is worth spending $0.99 on mining it. the more expensive it becomes the more it consumes. its basically a paperclip maximiser.
I am pro digital currencies in general, but we can do much better than bitcoin.
That said we should avoid moral panic, it only brings division. Ultimately we are all on the same side.
- gruez 6y ago>the more expensive it becomes the more it consumes. its basically a paperclip maximiser. this is partly counter-balanced by the block subsidy halving every 4 years.
- erikerikson 6y agoYou mention nothing about externalities. Sure the $ books balance out but what other effects are being selected? We are all on the same side but benefits and costs are not evenly allocated.