We can all agree that Satoshi wanted to create the coin that will replace banks and their trust abuse. If he wanted to create the perfect coin, he might failed.
We, people, buy bitcoins from miners because they are the only ones that can provide us their rewarded bitcoins. Then we make exchanges with each other. There's a problem with the halving tho.
Recently we had our 3rd halving, cutting the bitcoins per block to 6.25
If price goes up, there will be good and bad things too. I think bad things will be more. I don't know what happened in the previous halving but surely due to demand and supply many sold their bitcoins and many miners sold/got rid of their equipment.
Imagine that in some years only ~50 bitcoins will be bornt every day. Miners will not afford mining cost EXCEPT if bitcoin price will rise above 50.000$
So in a few words only if miners can afford from their rewarded BTC, the mining cost. Only then bitcoin will survive. Due to halving, price will rise because if a miner finds pricy his equipment now, then he will retire 4 years later.
Will miners that will mine blocks in the year 2136, be happy with their tiny reward + fees? If they can mine it means that they will afford the electricity meaning: 1 satoshi will be much more expensive than now.
But if price will rise then we should all go and buy a bitcoin right now? Hmm? I think this is a paradox.
Umm... BlackHatCoiner, why that title?
Well I believe that Satoshi hadn't thought that many would see bitcoin as an investment and not as a coin, and that mining will not be beneficial except if price goes up. But if price goes up then we should all go and by one BTC right now, but if we all go and buy one then price will go down and miners will not afford it. And it seems like a circle to me.
I find very likely bitcoin price to get increased over time. But shhh, i don't want anyone to find it out
Your thoughts, correct me if you think I was somewhere wrong.
We, people, buy bitcoins from miners because they are the only ones that can provide us their rewarded bitcoins. Then we make exchanges with each other. There's a problem with the halving tho.
Recently we had our 3rd halving, cutting the bitcoins per block to 6.25
If price goes up, there will be good and bad things too. I think bad things will be more. I don't know what happened in the previous halving but surely due to demand and supply many sold their bitcoins and many miners sold/got rid of their equipment.
Imagine that in some years only ~50 bitcoins will be bornt every day. Miners will not afford mining cost EXCEPT if bitcoin price will rise above 50.000$
So in a few words only if miners can afford from their rewarded BTC, the mining cost. Only then bitcoin will survive. Due to halving, price will rise because if a miner finds pricy his equipment now, then he will retire 4 years later.
Will miners that will mine blocks in the year 2136, be happy with their tiny reward + fees? If they can mine it means that they will afford the electricity meaning: 1 satoshi will be much more expensive than now.
But if price will rise then we should all go and buy a bitcoin right now? Hmm? I think this is a paradox.
Umm... BlackHatCoiner, why that title?
Well I believe that Satoshi hadn't thought that many would see bitcoin as an investment and not as a coin, and that mining will not be beneficial except if price goes up. But if price goes up then we should all go and by one BTC right now, but if we all go and buy one then price will go down and miners will not afford it. And it seems like a circle to me.
I find very likely bitcoin price to get increased over time. But shhh, i don't want anyone to find it out
Your thoughts, correct me if you think I was somewhere wrong.