Quote from: brg444 on October 24, 2014, 08:53:18 PM

Quote from: MrBig on October 24, 2014, 08:49:01 PM

That only applies to the third question. Hackers don't care about the miner's incentive, and neither do governments. Besides what we're seeing right now is less companies building mega-mining farms and a more uneven distribution of hashrate.

Nope, wrong again. In reality there are more and more mega-mining farms being built. Just look at the hashing distribution right now and where we were this summer with GHash.

As more of these continue being built the risk continues to be distributed effectively rendering hacking attacks and/or government takeover ineffective.

Is GHash a mining farm or a pool? If it's a pool then your point carries no weight as miners simply pointed their machines to other pools thus decreasing GHash's hashrate. A giant mining pool is not the same as a giant mining farm.

Quote from: brg444 on October 24, 2014, 09:11:52 PM

Quote from: raid_n on October 24, 2014, 09:04:41 PM

What needs to be realized is that a high value bitcoin will give a tremendous economic incentive to invest into mining.
At 3600 coins a day even at current prices we are looking at up to half a billion dollars a year of new value created (until halving)

Now you can fill in the blanks on how much might be spent to gain a piece of that pie.
Lets face it. If bitcoin gains global adoption mining will be a multi billion dollar industry.

Does this mean the current value is unsustainable? I really don't know.
The numbers speak for themselves. Either we will see a very big change in mining or a very big change in value.

exactly.

I know people hate Marc Andreesen for saying this but the likely scenario in the long run is enormous mining syndicates around the world being regulated in such a way as to PROTECT the Bitcoin network and discourage monopolies.

Regulated by whom? A centralized authority? Syndicates aka mafias? I can only speak for myself, but I sure wouldn't trust them.