Bitcoin gets less and less energy efficient over time given that it gets more scarce the more that are mined. By design, it does so at least as fast as efficiency improvements can be made in terms of hardware.
Bitcoin gets less and less energy efficient over time given that it gets more scarce the more that are mined.
Sure. Original Bitcoin.
But there are a thousand competing shitcoins that are all reinventing the cryptocurrency idea, and every new one reinvents the efficiency of early mining and lets people forget that it all grinds to a halt above a certain soft ceiling. Miners can keep doing this as long as they can get a new set of suckers to sign on to the next "improved" math model. Meanwhile, the astronomically high per-unit price of the original gives people the impression that the sky will forever be the limit.
Bitcoin gets less and less energy efficient over time given that it gets more scarce the more that are mined. By design, it does so at least as fast as efficiency improvements can be made in terms of hardware.
Sure. Original Bitcoin.
But there are a thousand competing shitcoins that are all reinventing the cryptocurrency idea, and every new one reinvents the efficiency of early mining and lets people forget that it all grinds to a halt above a certain soft ceiling. Miners can keep doing this as long as they can get a new set of suckers to sign on to the next "improved" math model. Meanwhile, the astronomically high per-unit price of the original gives people the impression that the sky will forever be the limit.
It's such a crazy system.
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