Digiconomist

7 ms·

1.
by Digiconomist 9y ago
Huh? It's all in the infographic. 60% is the target, but "production takes time" (see content here) hence the "ultimately". I'm not hiding the current number, it's in the key statistics. If you're int
2.
by Digiconomist 9y ago
Ah no, it's 5.58 for the current 22%. If it actually gets to 60% it would be much worse.
3.
by Digiconomist 9y ago
I hope we're not building hydro power plants for the sole purpose of supporting the Bitcoin network. The energy may be "clean", but these projects have their own impact on the surrounding ecosystem.
4.
by Digiconomist 9y ago
"Wasting" energy is required to make PoW work, but if we could achieve the same with PoS (and that seems to be the case since ETH is switching too) then it would really be a waste.
5.
by Digiconomist 9y ago
Just want to note that 60% is the expected future (ultimately), but the current % is more like 22 (found by taking the total cost # divided by the total annualized mining revenue #).
6.
by Digiconomist 9y ago
The comparison to VISA is a common one. Whether it makes sense to use BTC in a certain way ultimately depends on the user and how they're using it. But honestly, as a medium of exchange Bitcoin simply doesn't make sense in most ca
7.
by Digiconomist 9y ago
So, the block reward is indeed increasing, but two other things are increasing very fast. First is the price per Bitcoin, and second is the number of fees per block. Just the day before yesterday miners received 1800 coins from mining and a