Topic: Does Bitcoin have AIDS? - page 4. (Read 5346 times)
its going to save humanity
short answer:
yes, it has aids
no, it can't be cured
It will be extremely expensive to use it even later because what you say is exactly right: the hash needs to be paid.
Bitcoin has much too high hashrate if you look at it from this angle.
Such huge pow-miningpower is unsustainable.
I imagine if bitcoin would be world currency to be quite a grey world with a few super-rich and the rest having nothing at all, aswell as huge electricity consumption from keeping this nonsense running.
yes, it has aids
no, it can't be cured
It will be extremely expensive to use it even later because what you say is exactly right: the hash needs to be paid.
Bitcoin has much too high hashrate if you look at it from this angle.
Such huge pow-miningpower is unsustainable.
I imagine if bitcoin would be world currency to be quite a grey world with a few super-rich and the rest having nothing at all, aswell as huge electricity consumption from keeping this nonsense running.
This is a terrible analogy.
When you buy gold you do not pay a constant tax to the miners after initial purchase.
Yes you do, every ounce they mine devalues your holding. ... under your apparent definition of tax.
could be true but that inflation of gold is way lower - low enough to not be felt. Bitcoin is a different story.
When you buy gold you do not pay a constant tax to the miners after initial purchase.
Yes you do, every ounce they mine devalues your holding. ... under your apparent definition of tax.
High hash needs to be paid for.
Bitcoin has good hash but keeps going down because that hash needs to be paid.
When you buy gold you do not pay a constant tax to the miners after initial purchase.
Bitcoin is different. Here you pay after purchase a tax to miners of 10% of its value this year.
Can it be cured with speeding up blocktimes or does it need to fork to faster rewarddecrease?
Obviously satoshi was afraid of attackers. He did not think of a whole army of altcoins which could jump in and back it up.
He did not think of the possibility to share hash with other coins.
What sense does a mega-high hashrate make when it is this expensive and makes the coin useless to store value?
Are the fears which would make such high and expensive hashrate necessary still justified in 2015?
Here is my question:
Does Bitcoin have aids? Can it be cured? How?
Bitcoin has good hash but keeps going down because that hash needs to be paid.
When you buy gold you do not pay a constant tax to the miners after initial purchase.
Bitcoin is different. Here you pay after purchase a tax to miners of 10% of its value this year.
Can it be cured with speeding up blocktimes or does it need to fork to faster rewarddecrease?
Obviously satoshi was afraid of attackers. He did not think of a whole army of altcoins which could jump in and back it up.
He did not think of the possibility to share hash with other coins.
What sense does a mega-high hashrate make when it is this expensive and makes the coin useless to store value?
Are the fears which would make such high and expensive hashrate necessary still justified in 2015?
Here is my question:
Does Bitcoin have aids? Can it be cured? How?
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