It's not a counter thought. It's a statement of the bleedin' obvious. However, the difficulty adjustment keeps prices and costs in line with each other to discourage miners from dropping out. Assuming this holds, breakeven cost can be used to predict price.
I can see that frame of reference re: DA a subsidy. Again reference the importance of bootstrapping in an immaculate conception paradigm. Regardless, if we agree on fee markets, how is this DA unsustainable, if its effect effectively neglifies over time?
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Bootstrapping is a one-off event. It is not required for all time. Indeed the 21m limit means it cannot continue for all time. Eventually, all that remains is a fee market, and at that point transaction costs must rise enough to keep miners honest.
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Agree. Tho, fee market economics are in play before 21m emission. New trends/loops forming now. See mempool and fee market & volatility last 10 months. The bootstrapping will continue but fade, & organic market forces will continue to build atop the entropically favorable path
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I don't think that path will be on another blockchain. No other PoW is near competitive, and PoS is a genius scam I wont engage here. No bets on core or what we currently call
$btc, but some branch of bitcoin will prevail.https://twitter.com/FluidFluxation/status/991126891389169664?s=20 …
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the real competition to Bitcoin is not in the cryptocurrency world.
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Agree entirely
End of conversation
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