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> That's why the eventual value of bit-coin is supposed to be the value of the energy required to maintain it [...] This is incorrect. The value of the sum tot
by runeks 13y ago
> That's why the eventual value of bit-coin is supposed to be the value of the energy required to maintain it [...]
This is incorrect. The value of the sum total of fees over a certain period, will be equal (or slightly greater) than the cost of the energy required to maintain Bitcoin.
The value of Bitcoin itself is not limited to the amount of energy required to operate it. Confirming a 1M BTC transaction requires the same amount of energy as confirming a 1 BTC transaction, so the cost of the amount of energy expanded is not a limit to the value of Bitcoin.
- SolarNet 13y agoYes, but the (theoretical) only limiting factor on the market in a hundred years will be the cost of transaction fees. Which will be the cost of energy to maintain it. Theoretically a transaction fee will be the same regardless of amount of bitcoins in the transaction.