Post
Topic
Board Bitcoin Discussion
Re: BTC less efficient than Visa
by
crumbs
on 13/08/2013, 22:35:53 UTC
If printing money was proportionately as costly as mining BTC, the presses would not stop 'til it costs more than a dollar to print a dollar.
Welcome to the problem of inflation.


Because mining BTC is proportionately harder as time goes on, it only tell us Bitcoin is more and more successfull.

No, rising difficulty only tells you the hashrate has risen, nothing about success.  Just that people spent all their bitcoins on racy new ASIC miners, so they could mine more bitcoins to buy the next racy miner.  Enjoy the hamster treadmill Cheesy