Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by nutildah (1)
Seriously jbreher, don't you ever get tired of this shit?
Seriously Cryptotourist, indeed I do.
But a direct request was made of me. One that I cannot fulfill. It would probably be rude to just drop the request without the benefit of my reply.
And yes, having to clarify misrepresentations of The Other Bitcoins does indeed get tiresome. But I soldier on. Because truth is important.
Don't mean to get technical on you all the sudden by I was looking into it the other day and as of right now its only possible to cram 100 KB of data into a single BSV transaction (or 4 JJG posts -- sorry JJG, you know I'm still a fan).
BSV has long had widely-distributed tools to split larger files into multiple txs, and concatenate them upon retrieval into original large files.
I heard somewhere (I only come here lol) they also have backup servers to roll back any crap.
Oh. You "heard". How unsurprising. Right here in the echo chamber.
That said, these tools surrounding the SV protocol
Sorry, couldn't help myself. Its just what comes to mind.
OK, that was marginally funny. Touche'.
Nobody would ever buy a coin for $500k when they can simply mine one for $3-6k instead.
You are forgetting the reward halving, this alone can make the price double without any extra power needed.
Also, miners can get more efficient in future and use wasted energy.,
No. While exaggerated, r0ach has a point. Additional increase in price will inevitably result in increased hashpower thrown at mining. The natural state (once supply and demand shocks stop oscillating) is that the money expended upon mining opex + capex + marginal profit will be equal to the value of the mining rewards (block reward plus tx fees). Bitcoin hashing chips are already darned near the state of the art, meaning that the generational benefits of new hardware is slowing. Accordingly, capex will have a longer profitable time horizon, leading to the above equation being even more dominated by opex -- which is in turn energy cost.
Efficiency has nothing to do with the amount of energy expended in mining. More efficient HW just means that more hashpower will be put into service, until the energy cost expended brings the above equation back into balance.