Ask HN: Propsal: Inner value of BTC == Power cost?

Re:Ask HN: Propsal: Inner value of BTC == Power cost? by waffenklang on Monday April 15, 2013 @06:58AM (#5550786)

Referencing this post and your first: The fact that bitcoins can be divided until 10^-8 is mainly the feature where the idea was relying. Your state of the power plant compare was right, but as bitcoins get divided the number of transaction will rise causing the blocks to get higher. sure they will settle at a current level, but this will provide the stability in its value.

the problem of the value is already present at the moment. Taking that simple example of the 10000BTC pizza, the Pizza service, if they still hold that amount, are now millionaires. but thats the point with every currency. but they use reforms to handle the problem, which requires an authority to control it, which will not be possible with btc.

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Re:Ask HN: Propsal: Inner value of BTC == Power cost? by mschuster91 on Saturday April 20, 2013 @05:57PM (#5582972)

Much of the value present now will be lost in not too near time. Wallets get stolen (and the thieves don't dare use them, because BTC is not as anonymous as most people think), wallets get lost (mindwallet password forgotten, disk crashes and no backups), people just forget about their Bitcoins like many of the early "adopters" did whose bitcoins are now rotting... so this will be a good adjustment for Bitcoin value, when the "divide" happens or earlier.

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Re:Ask HN: Propsal: Inner value of BTC == Power cost? by zamalek on Monday April 15, 2013 @07:07AM (#5550803)

Exactly. You seem to have done a better job at making my point :).

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