/biz/ - Business & Finance

>>15199864
>No one cares about the stupid opinion of some nobody. If you think you can refute bitcoin's value prop go and fucking do it in the market.

i'm not refuting the Bitcoin value prop. just trying to see what you think about it and whether you can actually think about it.

here, i'll do your job for you:

Bitcoin mining rewards will continue to halve, until eventually the rewards are low enough (in value terms) that miners will be less incentivized to mine for the sake of the coinbase, at which point difficulty will drop to compensate. then it's quite possible that 51% attacks will become easy. i think this is what the previous poster was probably talking about. at some point 51% attacks are easy, so it might call into question the ability of Bitcoin to store value well.

but hopefully by that point transaction fees will be a sufficient reward for miners to keep mining. but it's not guaranteed. as satoshi put it, "Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free." but i think you can see there are no guarantees about it.

anyway, everyone who understands Bitcoin understands that this risk is there, and it is already priced into Bitcoin.

i also think the previous poster was trying to point out that 0xBitcoin has outsourced security to Ethereum. he thinks that's a strength. so once 0xBitcoin's reward gets low enough that miners are less incentivized to mine and difficulty drops, there is no risk of a 51% attack on 0xBitcoin. the assumption is that Ethereum will still be heavily mined/staked, so 0xBitcoin will still be defended. (yes, 0xBitcoin, as an Ethereum smart contract, is completely dependent on Ethereum.)

i hope you can think about that stuff and respond in a meaningful way.