Damus
Rafe Gauss · 11w
Large mining pools and organizations won't survive with low fees. They'll then demand that developers increase fees without fail, because ordinary users will hold onto their coins. However, increasing...
ProfAnarch profile picture
I hope so. But one of Bitcoin’s inherent flaws—the reduced supply system involving halving—will, over time, result in individual and home-based mining efforts also losing their incentive. This is because they will be unable to match the costs of the vast amounts of electricity and hardware required for a brute-force hashing operation for such as 0.0003 BTC, which mining farm companies (who enter into agreements on a wholesale basis and with long-term crony-corporate privileges) are better equipped to cover. Consequently, decentralisation and the stability of the network security budget are impossible in Bitcoin. Especially given the unstable global conditions, with production bottlenecks in computing devices and constantly rising energy costs...
Rafe Gauss · 11w
I see another vulnerability in the 21 million bitcoins. If governments and banks want to neutralize bitcoin, they can buy up all or the vast majority of the coins. Bitcoin maximalists describe Bitcoin's battle with governments and banks as an epic Hollywood drama. It's more profitable for governme...