News for hackers. Stuff that matters.

A comment on Running Bitcoin uses a small city’s worth of electricity. Parent comment

Re:Running Bitcoin uses a small city’s worth of electricity by VMG on Wednesday October 04, 2017 @07:31AM (#15399719)
> Keeping it low until any form of competition shows up?

Exactly. This is similar to how price dumping works: https://en.wikipedia.org/wiki/Dumping_(pricing_policy)

[ Parent | on HN ]
Re:Running Bitcoin uses a small city’s worth of electricity by ZenoArrow on Wednesday October 04, 2017 @04:41PM (#15404420)
You're not listening. I'm suggesting it'll never work for Bitcoin as the available competition is ever present. A cartel gains nothing by mining at a slower rate.
[ Parent | on HN ]