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Gold mining through the centuries has probably caused much more environmental pollution than bitcoin, and bitcoin ~~mining~~ minting is programmed to end. Bitc
by cblconfederate 6y ago
Gold mining through the centuries has probably caused much more environmental pollution than bitcoin, and bitcoin ~~mining~~ minting is programmed to end.
Bitcoin can be transferred around the world easily, The way gold achieves permanence is partially by being extremely hard to move around and store.
Gold can be outcompeted too, aluminum used to be more expensive than gold.
- rini17 6y agoBitcoin mining is not programmed to end. It has two functions: issuing of new coins and safeguarding transactions. From these two only mining of new coins will eventually end but it still is likely to stay profitable for many decades. Safeguarding transactions, with reward from transaction fees, is programmed to go on indefinitely.
- m00dy 6y agoI second this comment. Glad to see someone knows the actual protocol rather than speculating.