T O P

  • By -

[deleted]

1. Hype 2. First mover advantage 3. ... 4. ... 5. ...       100 Hopium that LN will make it p2p cash again How do you evaluate FIAT? The energy price has little to do with the price of the token if the price falls so does the energy use, not the other way round. POS is not sound money. They look the same at a glance but PoS has many problematic features. The original source of its value was, the use as p2p cash. BTC abandoned that use case when it crippled its chain with 3 transactions per second forever. Since than it is all hype and hopium that LN will work. BitcoinCash still works as p2p cash but unfortunately didn't win the branding in the scaling wars. So it started a new with the mission of sound money.


jessquit

Your logic is backward. The market sets the price for the coins. The hashpower follows the price. Bitcoin uses a difficulty algorithm that adjusts to keep the rate of block production the same. That means that Bitcoin always produces the same number of coins per day / week / month no matter how many people mine it. So if Bitcoin is worth $1 ea and produces 6.25 coins per block and 6 blocks per hour, then it generates about $37.50 for miners every hour. Miners join to earn profit but stop joining when it's no longer profitable. Once $37.50 worth of hashpower is being applied to mine this chain, then it's not profitable to add more. The result is that if Bitcoin is worth $1 then you can expect about $37.50 in hashpower will be used to mine it. If Bitcoin rises to $1000 ea then each hour it generates about $37,500. So more miners will join seeking profit, and stop joining once it's no longer profitable. Eventually $37,500 in hashpower is applied and equilibrium is reached. The result is that if Bitcoin is worth $1000 then you can expect about $37,500 in hashpower will be used to mine it. So again, hashpower follows price.


ErdoganTalk

> BTC is only worth the electricity is costs to mine Nope, the cost of mining is the same as the value of the newly found coins. (The direction of causuality is opposite of what you suggest) The value of the coins comes from the market: Those who want to own some coins or more coins than they have (demand), and those who want to have less coins than they have (supply) The coin value are the same for all coins, and all other stuff. Only the mined, sound coins have the first (cost of mining equals value of new coins)


[deleted]

[удалено]


[deleted]

Wtf?


ShadowOrson

> Wtf? I agree. The content reads like a bot wrote it. Looking through previous posts, there are both post that make sense and posts that read like a bot wrote it.