News for hackers. Stuff that matters.

A comment on Bitcoin has little shot at ever being a major global currency. Parent comment

Re:Bitcoin has little shot at ever being a major global curr... by xdeqx366 on Thursday January 11, 2018 @07:50AM (#16123359)
The energy cost of mining bitcoin equates to exactly what people are willing to pay for it. If the cost of mining increases, profits decrease, and the system re-equalizes. It is simply another market, BTC/kj.
[ Parent | on HN ]
Re:Bitcoin has little shot at ever being a major global curr... by Retric on Thursday January 11, 2018 @12:58PM (#16126018)
Energy costs are only part of the equation. The point where people buy new equipment is significantly different from the point where they turn off equipment they already own.
[ Parent | on HN ]