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I generally like to think about this from opposite direction: miners and bitcoin investors are incentivised for bitcoin to be used and for the price to go up.
by aljarry 5y ago
I generally like to think about this from opposite direction: miners and bitcoin investors are incentivised for bitcoin to be used and for the price to go up.
Why miners? Because their main source of income is not the transaction fee, but basecoin, the guaranteed bitcoin payout for each mined block.
Due to Bitcoin being such a huge amount of money, unethical players do anything to lure people in, including MLM-style marketing, artificially inflating volume traded, and overplaying coin stats (like market cap). Then there's also media / influencers who, without second thought, introduce inexperienced people to investing in high-volatility assets.
- Applejinx 5y agoIt's interesting how this mechanism, purportedly for grown-ass adults, is a loot box mechanic. Pump more energy in! Because you haven't hit a coin yet. And it is getting forever more unlikely that you will… but at the same time, the payoff is even greater than it was last week! Maybe you won't even hit a coin. Your operation is not big enough. But if you do…! So, MOAR… Loot box mechanic. Turns out it is not just for manipulating children.