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But you're both completely missing the point that mining for coins will become exponentially more efficient over time, with new mining techniques and hardware.
by NewAccnt 13y ago
But you're both completely missing the point that mining for coins will become exponentially more efficient over time, with new mining techniques and hardware.
- wmf 13y agoWhen more energy-efficient mining equipment is created, people buy enough of the equipment to use the same amount of power that they used to have. For example, one might replace a 300 W GPU with a 300 W ASIC miner. The total amount of mining is determined by the exchange rate; since the exchange rate is expected to increase due to deflation, the amount of power spent on mining is also expected to increase dramatically.
- pavanky 13y agoI understand that. I said it would make more sense than the existing one. It would not be a perfect solution, and I would not have participated in that xCoin system either.