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Why would you trade it? You can just mine more as you need it? Mining is resource-intensive. the value today is likely worth less tomorrow unless you can "cas
by colanderman 13y ago
Why would you trade it? You can just mine more as you need it?
Mining is resource-intensive.
the value today is likely worth less tomorrow unless you can "cash it out" immediately.
Exactly! Not only is this like almost every other good on the planet, it encourages trade.
- ck2 13y agoIn 2015 it won't be resource intensive. We should be on 3rd or 4th generation asic scrypt miners by then which maybe means you'll be able to get a $20 usb stick that makes you 10k coins a month with a single kilowatt of power per month.
- benmanns 13y agoBut when everyone has a $20 USB stick capable of mining 10k coins a month on today's difficulty, that difficulty will go up dramatically. Mining will always be expensive to everyone but those with early access to next generation hardware.
- driverdan 13y agoThat's not how mining works. More miners = higher difficulty = lower rewards. Plus 4th gen ASIC scrypt in 2015 when there's only one now and no more coming for many months? Unlikely.
- aestra 13y agoMining hasn't been AS expensive as I thought it was going to be. Costs me about $1 a day in electricity.
- paulhauggis 13y agoIf this is the case, why not just use the US dollar? At least banks are secure enough to not get robbed every few weeks (or have a security system by a 15 year old php developer). Eventually, the government will see bitcoin as a true currency, regulate the hell out of it, and all of these things like having no transaction fees will be non-existent.