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Why would you trade it? You can just mine more as you need it?

You aren't going to sell any goods for it because the value today is likely worth less tomorrow unless you can "cash it out" immediately.



Why would you trade it? You can just mine more as you need it?

Mining is resource-intensive.

the value today is likely worth less tomorrow unless you can "cash it out" immediately.

Exactly! Not only is this like almost every other good on the planet, it encourages trade.


Mining hasn't been AS expensive as I thought it was going to be. Costs me about $1 a day in electricity.


If this is the case, why not just use the US dollar? At least banks are secure enough to not get robbed every few weeks (or have a security system by a 15 year old php developer).

Eventually, the government will see bitcoin as a true currency, regulate the hell out of it, and all of these things like having no transaction fees will be non-existent.


In 2015 it won't be resource intensive.

We should be on 3rd or 4th generation asic scrypt miners by then which maybe means you'll be able to get a $20 usb stick that makes you 10k coins a month with a single kilowatt of power per month.


But when everyone has a $20 USB stick capable of mining 10k coins a month on today's difficulty, that difficulty will go up dramatically. Mining will always be expensive to everyone but those with early access to next generation hardware.


That's not how mining works. More miners = higher difficulty = lower rewards. Plus 4th gen ASIC scrypt in 2015 when there's only one now and no more coming for many months? Unlikely.


5% inflation does not a Weimar Repulic make.




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