Bitcoin has little attraction as money. The IRS has correctly ruled it is a commodity like diamonds or gold.
As a commodity, BTC is attractive because, unlike diamonds, it is not controlled by a cartel. Unlike gold, it is easy to move around.
The amount of BTC is bounded.
Just like diamonds, gold, rare coins or stamps or Picasso doodles, BTC has as much intrinsic value as people decide it has.
It might be worthwhile to stick a few away and see what happens.
Topic: What is the endgame for BTC? - page 2. (Read 2555 times)
If situation worsens then they will make mining easier, or take some steps. They simply won't let it go.
In my opinion, the extinction of home miners will ultimately cause the failure of BTC.
I don't agree with this. BTC has nothing to do with the failure or success of home miners.
This is where I'm coming from...
Once I can no longer profit from mining, I'm done with BTC. I'm simply not an investment speculator. And I see no real advantages with buying BTC on an exchange and using it to make purchases. I'd rather just use a credit card and have consumer protection.
I'm not a libertarian and bank failures and politics scare me less than BTC potentially dropping to zero.
In my opinion, the extinction of home miners will ultimately cause the failure of BTC. Home miners actually use their BTC stash as it's intended, to make purchases. Although they just usually spend their saved BTC on new mining gear, lol. They also hoard their earnings while large-scale mining operations continually dump their BTC and exchange for fiat. Which will ultimately causes the price to crash once home miners are completely out of the picture.
Once I can no longer profit from mining, I'm done with BTC. I'm simply not an investment speculator. And I see no real advantages with buying BTC on an exchange and using it to make purchases. I'd rather just use a credit card and have consumer protection.
I'm not a libertarian and bank failures and politics scare me less than BTC potentially dropping to zero.
In my opinion, the extinction of home miners will ultimately cause the failure of BTC. Home miners actually use their BTC stash as it's intended, to make purchases. Although they just usually spend their saved BTC on new mining gear, lol. They also hoard their earnings while large-scale mining operations continually dump their BTC and exchange for fiat. Which will ultimately causes the price to crash once home miners are completely out of the picture.
Sad, but this can be true
So everyone need to do everything to decentralize BTC mining. 
This is where I'm coming from...
Once I can no longer profit from mining, I'm done with BTC. I'm simply not an investment speculator. And I see no real advantages with buying BTC on an exchange and using it to make purchases. I'd rather just use a credit card and have consumer protection.
I'm not a libertarian and bank failures and politics scare me less than BTC potentially dropping to zero.
In my opinion, the extinction of home miners will ultimately cause the failure of BTC. Home miners actually use their BTC stash as it's intended, to make purchases. Although they just usually spend their saved BTC on new mining gear, lol. They also hoard their earnings while large-scale mining operations continually dump their BTC and exchange for fiat. Which will ultimately causes the price to crash once home miners are completely out of the picture.
Once I can no longer profit from mining, I'm done with BTC. I'm simply not an investment speculator. And I see no real advantages with buying BTC on an exchange and using it to make purchases. I'd rather just use a credit card and have consumer protection.
I'm not a libertarian and bank failures and politics scare me less than BTC potentially dropping to zero.
In my opinion, the extinction of home miners will ultimately cause the failure of BTC. Home miners actually use their BTC stash as it's intended, to make purchases. Although they just usually spend their saved BTC on new mining gear, lol. They also hoard their earnings while large-scale mining operations continually dump their BTC and exchange for fiat. Which will ultimately causes the price to crash once home miners are completely out of the picture.
As mining becomes more and more difficult and expensive, fewer and fewer people will mine. If the large scale miners (farms, clouds, hosts, etc) ultimately can't afford to keep mining, mining will grind to a halt. Long before that point is reached, the length of time required to validate block chain transactions will start increasing, the more trading/spending/buying transactions taking place only making that worse. Seems to me the only thing that makes BTC workable is the willingness of enough people to mine, preferably as broad a swath as practical to ensure no few individuals can significantly manipulate throughput. In absence of that, BTC transactions will not be able to be validated (or validation will become too slow) and the coin will collapse.
Am I missing something? (Hopefully!)
Am I missing something? (Hopefully!)
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