Quote from: tvbcof on January 01, 2015, 09:48:35 PM

Quote from: justusranvier on January 01, 2015, 08:32:04 PM

Quote from: tvbcof on January 01, 2015, 08:00:09 PM

Why don't you, cypherdoc, and whoever else be a sport and answer my theorem for a change:

"Bitcoin mining will always approach non-profitability due to unlimited supply."

What is this, econ 101?

Of course Bitcoin mining will always approach non-profitability - in a free market the production of all products and services always approaches non-profitability. That's what markets do.

Absent some kind of forceful outside intervention, the price of all services in an economy approaches the cost of production plus a profit margin that tends toward zero over time.

Why would you even bring this up like it's some kind of great revelation or a problem of any kind whatsoever?

So then you are aware that Bitcoin has effectively no long-term support potential as a foundation in it's presently advertised form and are not just another clueless dupe. Good for you! I can understand how it's one of those 'Houston, we have a problem' things that one would wish to defer dwelling on for whatever reason or set of reasons. Chief among them until one has pocketed what one calculates to be the maximum potential profit.

For my part, I took some profits in case the shit hit the fan in an unpleasant way, but I also retained a bunch on the hopes that something would come along to rescue the system. Sidechains seem to me to have that potential and do so in a way that preserves the aspects of Bitcoin that I like. Centralization under a handful of large corp/gov players could also end up making me a dime, but I'd prefer the former route for philosophical reasons.

No. He said that EVERYTHING approaches zero profitability in a free market. Your hypothesis then is it's not worth doing anything in life because everything is worthless.