ICYMI @stratechery: The Cost of Bitcoin
http://stratechery.com/2014/cost-bitcoin/ …
Bitcoin is a breakthrough, but it's anything but free.
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Replying to @benthompson
@monkbent as bit coin mining becomes zero sum, it will be less profitable to mine and less people will mine it. Don't you think?1 reply 0 retweets 0 likes -
Replying to @uncannaevalley
@UNameUNameUName I think it's a prisoner's dilemma. Also need to look at Bitcoin demand in context of whole system, not just mining
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Replying to @benthompson
@monkbent like as the value of bitcoin increases the amount of energy the currency as a whole absorbs increases?1 reply 0 retweets 0 likes
Replying to @uncannaevalley
@UNameUNameUName yes, roughly speaking.
7:01 PM - 4 Mar 2014
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