Quote from: justusranvier on May 21, 2015, 05:44:22 PM

Quote from: cypherdoc on May 21, 2015, 04:59:29 PM

did you listen to the above audio? it doesn't necessarily have to make money for the OEM. they stand to profit from other ways.

This might be the part to be most cautious about.

The argument that a Nash equilibrum encourages miners against acting in ways that damage the long term viability of Bitcoin is less obviously true when mining isn't being performed for direct profit.

under 21's model, it still can be done for profit.

when it comes to free mkts, esp in developing countries, i will tend to give the common man the benefit of the doubt. i know there has been alot of talk in here about how stupid these ppl will be when it comes down to the cost/benefit analysis of the mining phone and 21 simply taking advantage of these ppl. we'll see. it's just my experience that just b/c a poor man from the streets of a developing country may not be able to do elliptical curve math, they do surprisingly have a keen understanding of what makes or loses them money. i've been the victim of poor negotiating on my part when dealing with these types of ppl routinely. if they deem the electrical drain from the mining chip to be costing them money, they will figure out a way to change that and quick. either by charging in public places or some other work around. like i said, airports are constructing these free charging kiosks in every major airport. this has the potential to take us back to those days of 2010-11 with those mining videos on YouTube. ppl just need to get these devices in their hands for an affordable price. and if the ppl themselves can't make it work financially, that's where 21 and their R&D team will need to step it up in terms of an even more efficient mining chip. sounds like they certainly have the capability to do so. remember what's driving these Silicon Valley ppl. it's about resting the financial system away from Wall St in determining their own destiny. there's no dearth of motivation as a result of Sound Money.