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A comment on Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014). Parent comment

Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by rzz3 on Monday February 15, 2021 @07:46PM (#26149676)
> than bitcoin which is _only_ a vehicle for speculating on intrinsic value being used by a tiny minority

That’s a bit simplistic and completely lacking in big picture perspective. You even underline “only” as if you’re very confident in what you’re saying. Please do some research.

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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by tomxor on Monday February 15, 2021 @08:06PM (#26149791)
Oh sorry, please replace "only" with 99.9%. Because of $20 transaction fees, because of the trend of companies that once accepted it shunning it due to aforementioned ridiculous transaction fees, and finally due to numerous papers presenting a statistical analysis of bitcoin transaction behaviour and coming to the same conclusion e.g DOI: 10.1016/j.intfin.2017.12
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