Or... the difficulty will fall and anybody with an antminer s9 or below (maybe even gpus will provide more hash than s9 by then) will be mining just like it was designed to happen. If the industrial miners leave, then home miners will take over.
Governments want to replace the industrial miners? Fine by me it can't be worse than what it is now.
Topic: Shower thought on the state as a Bitcoin holder and government subsidized mining - page 2. (Read 355 times)
January 11, 2019, 01:35:28 AM
January 11, 2019, 01:29:43 AM
Nick Szabo recently spoke on the Israel Bitcoin Summit in Tel Aviv University, and he said that,
THERE’S GOING TO BE SOME SITUATIONS WHERE A CENTRAL BANK CAN’T TRUST A FOREIGN CENTRAL BANK OR GOVERNMENT WITH THEIR BONDS FOR EXAMPLE. […] ONE SOLUTION THAT’S BEEN DEVELOPED IS TO HAVE THE SWISS GOVERNMENT HOLD IT FOR YOU – THAT’S NOT A TRUST MINIMIZED SOLUTION. THE SWISS GOVERNMENT ITSELF IS SUBJECT TO POLITICAL PRESSURES AND SO A MORE TRUST MINIMIZED SOLUTION IS CRYPTOCURRENCY.
Let's pretend that central banks or the different states around the globe started holding large amounts of Bitcoin, but the block rewards are not enough to support the miners anymore after several halvings. Wouldn't it force the central banks or the state to keep the network going by mining at a loss, but subsidized by the government?
Tell me what's wrong with that logic.
Quote
THERE’S GOING TO BE SOME SITUATIONS WHERE A CENTRAL BANK CAN’T TRUST A FOREIGN CENTRAL BANK OR GOVERNMENT WITH THEIR BONDS FOR EXAMPLE. […] ONE SOLUTION THAT’S BEEN DEVELOPED IS TO HAVE THE SWISS GOVERNMENT HOLD IT FOR YOU – THAT’S NOT A TRUST MINIMIZED SOLUTION. THE SWISS GOVERNMENT ITSELF IS SUBJECT TO POLITICAL PRESSURES AND SO A MORE TRUST MINIMIZED SOLUTION IS CRYPTOCURRENCY.
Let's pretend that central banks or the different states around the globe started holding large amounts of Bitcoin, but the block rewards are not enough to support the miners anymore after several halvings. Wouldn't it force the central banks or the state to keep the network going by mining at a loss, but subsidized by the government?
Tell me what's wrong with that logic.
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