• sam5673 [none/use name]
    ·
    4 years ago

    Also bitcoin has an issue in that miners do transaction validation so one day all the bitcoin will no longer be transferable. As in when the last bitcoin gets mined they will all be locked away.

    • LeninWalksTheWorld [any]
      ·
      4 years ago

      inventing digital money but giving it the same scarcity as gold... capitalism truly fosters innovation

      • sam5673 [none/use name]
        ·
        4 years ago

        The scarcity is the entire point. Just randomly giving them out would be silly(er)

        • LeninWalksTheWorld [any]
          ·
          4 years ago

          well I suppose it makes sense if you are trying to create a speculative commodity to buy and sell, but bitcoin ain't ever replacing fiat money if it isn't unlimited, that's why fiat money is so great

          • sam5673 [none/use name]
            ·
            4 years ago

            It's barely even a commodity tbh it's a number someone has essentially written down in a tamper resistant book.

      • thisismyrealname [he/him]
        ·
        4 years ago

        someone (i think riley) on trashfuture made the point that crypto is such a waste of energy precisely because they're trying to enforce scarcity on data, something that usually requires an infinitesimal amount of energy to reproduce

    • RNAi [he/him]
      ·
      4 years ago

      ? So the magic money has an expiration day?

      • sam5673 [none/use name]
        ·
        4 years ago

        That just pushes the can down the road of eventually them getting the last bitcoin. Also the miners if they get to a small enough group could hold the entire system hostage