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You dont refute his point at all. There is something inherent to bitcoin that may hamper a "country to convert a great part of this dead stock into active and
by andyakb 13y ago
You dont refute his point at all. There is something inherent to bitcoin that may hamper a "country to convert a great part of this dead stock into active and productive stock;" the fact that you need to take an insane amount of computing power and electricity to "create" new bitcoin. He could hate something that did not exist in his lifetime because he hated the principles that are fundamental to the process.
- bbbhn 13y agoYou don't need an insane amount of computing power to create new bitcoins. The amount of bitcoins generated every ten minutes is essentially set in stone. What drives people to dedicate more and more computing power to the mining process is market incentives: as you put more computing power into securing bitcoin, more of the generated bitcoins end up in your wallet.