4 ms·
It’s a market. Anyone that spends more than the value of the information they are recording on the blockchain, will eventually be unable to do so, because they’
by ffwacom 5y ago
It’s a market. Anyone that spends more than the value of the information they are recording on the blockchain, will eventually be unable to do so, because they’re bankrupt. On a short timeline garbage can be written, but at the limit it should be flushed out.
- p4bl0 5y agoBelieving this necessitate to blindly trust market economy. Market economy is what makes NFT works. It always needs new places to expand to, even if those are entirely virtual. What makes mining profitable for some is not the value of the information stored on the blockchain they're mining for, it purely is speculation.
- ffwacom 5y agoIf the information has no value then surely the market will eventually price the whole chain at $0. The short term is just noise, ‘price discovery’, whatever.
- p4bl0 5y agoAgain, this is true only if you have a complete trust in market economy to make reasonable decisions. I don't. And evidence support that it doesn't always do that (I'm sorry I only have French ressources on this subject).
- ffwacom 5y agoWhat’s the alternative? Centrally planned economies lead to people dying, messing with them via regulation hasn’t seemed to help at all, just leads to some financial crisis.