while Im bad in English, my math is very good. Producing coins like this with the reasoning of creating independent anonymous, yet traceble currency, is not reasonable. If I have time tomorrow, I may give it a try and calculate for You, what is REAL production cost, that is made for producing one coin.
It has no relevance to anything. Calling 100,000,000 satoshis a coin is completely arbitrary. The cost of mining 1 satoshi is simply driven by the current market price of Bitcoin, not the other way around.
You've just fed the troll with this one
He will go and start saying that miners decide the price of
BTC, I can feel it coming...
Bro, make up your mind....
What do you want to prove here, that there are more than 21 millions bitcoins or that there will be only 21 million bitcoins?
And whats the point of Your last sentence? We have already electronic payment, based on strong cryptography, if needed almost anonymous too. And absece of third party? That wont be granted with bitcoin too. Or how else You would call blockchainers?
Oh, we're already at the next stage, denying reality.
So you claim that p2p payments can't be done with
BTC, or what?
You again attack just rather my language, than arguments.
I never said, that there will be less or more bitcoins eventually, I just asked a question: "Why is number of bitcoins limited with 21 millions?" Then You guys started to ask me to tell where I take it from. I then found several articles from decent sites, that backed it up. That 21 millions on the other hand, came as an answer to empty argument, that Bitcoin hasnt promised anything. It has. Or its creator. Whatever. Keeping number of Bitcoins at 21 millions is a promise.
I also never said, miners are creating price. Miners are gamblers, who invest more, that coin is worth into digging one. That is of course an average, same as buying a lottery ticket.
And last, I definitely didnt say, p2p cant be done. I told, that they are existing already, Bitcoin has nothing to add, that has a value. Definitely not so large, that it would be reasoned, why their mining is so expensive.
Overall: this discussion here reminds me very well one other situation, when I helped to expose KairosPlanet on different site. Those enthusiasts too always attacked language (Im agree, its not the best, English is my 3rd language) and refused to face the reality:
1) Why was number of coins limited with 21 millions?
2) why is getting coins so expensive, so its above all normalities? (collective usage of power to mine them)
3) what has bitcoin to offer additional to, say PayPal, that makes it so expensive? Cryptocurrency is nothing else, than playing on crowd's average stupidity, just like KairosPlanet. In latter case people didint understand, why its not reasonable rent hard disc at ridiculous cost, doesnt matter if it was in cloud or was divided into countless of fragments and therefore perfectly safe. which was bullsh*t obviously. You too have understood some few concepts of currency and crypto, and keep coming back to them in every answer. In reality its a monetary scheme.
