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This is also why industries like Bitcoin mining can be so corrosive. You can't stabilize the price of a commodity like energy if there's an entity that can gene
by AlexandrB 3y ago
This is also why industries like Bitcoin mining can be so corrosive. You can't stabilize the price of a commodity like energy if there's an entity that can generate nearly infinite demand.
- bequanna 3y agoWell, the rewards for Bitcoin mining are zero-sum so the demand will never really be infinite as the miners need some amount of profitability.
- AlexandrB 3y agoFair enough. Though as long as the price of bitcoin continues to increase demand for compute can continue increasing as well.
- bequanna 3y agoRight, but I believe halving of rewards also keeps the compute growth in check somewhat. I suppose it just depends on how BTC price increases vs the halving timeline.