I found several problems with the article.
It perpetuates the flawed reasoning behind the belief that price is determined by hash rate.
It suggests that Bitcoin will die because all mining will stop as profits approach 0 due to competition.
It suggests that Bitcoin will die when the subsidy goes to 0 because all mining will stop as high fees preclude all transactions, which results in no fees.
It perpetuates the myth of mining pool concentration, apparently not understanding that mining pools are made up of of thousands of participants who choose which pool to join.
It perpetuates the flawed reasoning behind the belief that price is determined by hash rate.
It suggests that Bitcoin will die because all mining will stop as profits approach 0 due to competition.
It suggests that Bitcoin will die when the subsidy goes to 0 because all mining will stop as high fees preclude all transactions, which results in no fees.
It perpetuates the myth of mining pool concentration, apparently not understanding that mining pools are made up of of thousands of participants who choose which pool to join.
The profits can`t approach 0 due to the competition.The history of capitalism proves that every competitive market self-destructs and changes into some kind of cartel or monopoly.The same thing will happen with mining.In the end only one big mining company will survive as a monopoly and it will dictate the transaction fees.This will be the end of BTC.
Anyway,the Forbes article is pretty stupid.
