Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I find this to be retarded and just plain wrong. In fact, every sale of Bitcoin has a buyer, so if you're buying Bitcoin, you're buying it from someone selling it. That's not causing the network to be strengthened or weakened, the electricity that goes into mining strengthens the network.
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Generally I agree with you cAPS, bitcoin is money (the hardest form known to humans) so inevitably it needs to be spent. When you sell bitcoin for dollars though, you lower the dollar price of bitcoin. Which makes the miners able to spend less energy per mined bitcoin. Which weakens the network.