Quote from: r0ach on March 31, 2016, 01:01:41 AM

Quote from: TPTB_need_war on March 31, 2016, 12:32:50 AM

Quote from: r0ach on March 31, 2016, 12:06:27 AM

Most people don't even realize Bitcoin has it's own decentralized exchange, but it does.

Which only 0.001% of the population can participate in profitably. And it ceases roughly 2033 or unless transaction fees scale up but there is a Tragedy of the Commons dilemma there as well.

It doesn't really even matter if it's profitable or not. You can define Bitcoin in one sentence:

The purpose of mining is to create a permanent two way peg, decentralized exchange, which thus results in a permissionless system.

The economic incentives are a side issue, but seem to work thus far. It's designed to bounce back and forth between profitable and unprofitable. The fact that it's deflationary creates a time opportunity cost reward to generally remain profitable over the long haul.

But as it pertains to this thread, we are obviously missing those elements here, and Come from Beyond, who is supposed to have a 4000 IQ, is unable to come up with any sort of argument whatsoever.

Perhaps IOTA is not trying to be Bitcoin. And why should it as Bitcoin already exists.