Re:A Bitcoin miner in every hand
by wmf on Monday May 18, 2015 @03:20PM
(#9566319)
None of their bullet points seem to make sense. I guess their "secret" is "Crucial to this is the idea that bitcoin generated by embedded mining is more convenient — and hence more valuable — than bitcoin bought at market price and manually moved over to the site of utility." I don't know whether that will turn out to be true.
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A somewhat more thorough asking of the same good question: http://www.reddit.com/r/Bitcoin/comments/36e8by/21dotco_a_bi...
I'd like to see this answered in some forum. It's very hard to get a more concrete sense of the vision without it being answered.
I don't know if it's even possible to answer such questions concretely. Everything hinges on transaction fees, and future fees depend on both the rate of transactions (which they propose to increase greatly) and the block size (which is being hotly debated right now). The case where their chip doesn't even mine enough satoshis to pay its own transaction fees isn't out of the question.