/biz/ - Business & Finance

run your own node dummy

If no one mines, it becomes insanely profitable to mine, so people will start mining again.

Game theory

>>15822428
If people stop thinking gold is worth something it loses value

>>15822477
profitable in BTC. If no one is mining it, there is probably a damned good reason.

>>15822428
because BTC is digital gold.

>>15822512
Youre gonna give it a high for durable when it literally requires an active network to exist? also are $20 fees considered easily transactable?

>>15822494
so then it doesnt
>relies on an outside counterparty to have value
it relies on there not being
>a damned good reason

>>15822477
BTC has no adjustable difficulty

>>15822556
no

>>15822477
What if the price collapses and the miners turn their gear off? are you going to mine it at maximum difficulty? You and what army of servers?

>>15822512
Retard detected
This chart has less credibility than Jussie Smollett
and created by someone more faggot

>>15822526
highest fee of 2019 was like $6.50, also you could just use litecoin instead

>>15822586
some electricity producers already mine bitcoin with their excess power. Especially hydro, meaning their running costs are near zero.

They will pretty much always mine since its free to do so

https://news.bitcoin.com/bitcoin-helps-oil-companies-reduce-carbon-footprint/

>>15822615
>Hey guys, if my currency becomes too expensive to transact in use something else. Isnt my currency awesome?
Explain how $6.50 makes sense when someone makes $5 per day

>>15822632
If they're dealing in amounts that small they should use litecoin or a more appropriate token

If they're dealing with huge pools of cash that barrier to entry can be useful.

>>15822659
I thought bitcoin was supposed to be peer to peer digital cash with infetsimile transaction costs? oh right now its muh store of value because it failed at that

>>15822665
The first iteration of an idea is not the last, brainlet

>>15822668
You're telling me bitcoin may not be it? Doesnt that kindve shatter the store of value idea too? Sounds like its just internet meme money

>>15822676
Does it say version 1.0 anywhere on the fucking projects asshole? No it says 0.18 or whatever the fuck because all this shit is still new as fuck. These ideas are still evolving and being tested so to evaluate them as a finished project is madness.

>>15822676
It moves large sums of money quickly and cheaply, and it has the longest security track record.
Whatever that is worth is up to the market.

>>15822594
but its got so many colors. It cant be wrong

>>15822526
>"hurr durr if internet ded then ur coins worthless shiny boomer rocks rule!"
Its very unlikely that the internet goes out in 100% of the world.

>>15822594
t. salty boomer nocoiner