@willywithcoinnode
Pretty insane. Coal and heat are good, but not as a waste. BTC needs serious price correction, near to the level where mining will be just a heating alternative.
[quote=“kac-, post:3, topic:2839”]@willywithcoinnode
Pretty insane. Coal and heat are good, but not as a waste. BTC needs serious price correction, near to the level where mining will be just a heating alternative.[/quote]
When, in time, do you think reality will force the re-balancing of price?
[quote=“kac-, post:3, topic:2839”]@willywithcoinnode
Pretty insane. Coal and heat are good, but not as a waste. BTC needs serious price correction, near to the level where mining will be just a heating alternative.[/quote]
I kinda like this approach. Sorry for going off topic beyond this line:
Bitcoin does not qualify as distributed store of value. Half of the net is screeming “Oh it’s currency. It’s nice.”
But the reality? I think most people still buy bitcoins and hoard them hoping for the next bubble.
Those charts provided by kac- seem to proof my point.
It’s volatality… block timing… 51% attack risks… mining centralization… immense power and energy going to waste.
I seriously think it’s time for something else.
On the other hand, I’m not willing to pull out of bitcoin by 100%, in case the somewhat inferior product will succeed once again.
Nice graph kac-. This does seem to substantiate an important assumption that underpins the PoS security model!
I’m not really sure I agree with this statement. The USD value scale is logarithmic while the coin-age proportion is linear. Definitely, fewer total coins are being traded than before the price increase, but hasn’t total value exchanged actually increased along with the price?
@willywithcoinnode - Thanks for the link. Fascinating!
Yes, exchanged value probably increased, but percentage uptrend is broken, now heading toward 1%. Will uptrend return in sub $100 zone? Maybe. OpenBazaar - it may heal it a little.