|2020/06/20 22:32, Bardock: ||edited 3x |
|What happens is, the more people mining bitcoin , the harder it is and more computing power is required to mine more. The electricity would become great just to compete with the other miners because you would need more machines to be able to even mine profitably. Eventually there will be no more mining and it will become too difficult because also part of the algorithm when more gets mined is too constantly halve the amount of the bitcoin that can be processed over the years, this is like the anti inflationary device. There is tons of crypto besides bitcoin, I hold some bitcoin but I prefer to shop around for the penny crpytos because everytime there is a rush people have this tick in them to buy the cheap ones. There is all kinds of different crypto to mine and collect besides bitcoins, I don't know anyone that mines bitcoin, its not profitable unless you have some major equipment at this point and the cost of electricity would be surpass the profit.
#The cost of the bitcoin is only determined by how many coins are available in the total supply vs now many people own them etc. The price is never determined by power or electricity the only mechanism that controls inflation is the how the difficulty of the computations increases the more people mining it. What the mining part really is, is your computer or mining machine becoming a node in the network and essentially processes transactions and other decentralized apps. Blockchain is being adapted globally and especially hard in China right now, its the future regardless of the price of bitcoin or w/e. It takes hardly no money to get into crypto for fun, find a cool project to invest in, its a great hobby, will keep you entertained.
USA is awesome, love it here, its safe and I have yet to encounter any racists (they certainly exist as they co everywhere) I am happy with my local cheap and mostly covered medical care, I am happy with the police and picked a great suburb to live in that's got a little distance from the big cities. Theres plenty of rural crime frees areas in the country as well. The USA has a lot of bad history and just a few grandparents ago we had slaves in our country, This has created pockets of great poverty and pain on people, I wish I knew what the solution was , we need to put more effort into helping the poor and uneducated of our country and pull out of al these foreign wars, all of them. Its obvious to the world the pains of people literally not having rights until just recently...….. rioting and killing police is not a solution to anything, looting other peoples business that are the only thing that sustains their families. How do you go about starting to heal the wounds caused to so many African Americans in the country? I would say time is going to help a lot and like I said more investing in the infrastructure of our country then trying to go around and be the world police and impose freedom on a bunch of people who don't care, so lets not care and fix ourselves ya?