A miner who stops is likely to cash out too using an exchange.
Please do not get me wrong, I want this experiment to succeed and am not envying old money.
It is just economics. The system has a cost of electricity and hardware, costs have to be reallocated to those benefit.
I see two ways: Transaction costs and Demurrage. It is important to keep transaction costs low for wide acceptance.
It only need to be a tiny cost but it has to be.
Please do not get me wrong, I want this experiment to succeed and am not envying old money.
It is just economics. The system has a cost of electricity and hardware, costs have to be reallocated to those benefit.
I see two ways: Transaction costs and Demurrage. It is important to keep transaction costs low for wide acceptance.
It only need to be a tiny cost but it has to be.
Two questions:
1) Why are you so obsess on promoting consumerism inside Bitcoin? (Almost all your posts relate to this idea).
2) What would stop anyone from moving their bitcoins from one account to other so they dont become "old"?. They would not even have to offer almost or at all fee because they dont care if they stay without processing a lot of time (even better because they will be "younger").
