I've never heard you make the argument that everything will be fine because miners have free will and will switch (from a harmful pool.) Frankly, I'm not sure you understand Bitcoin well enough to even make that argument from one perspective or the other. Just in case you are, consider the situation where mining is not profitable (which, as you may or may not remember, happened to a lot of run-of-the-mill miners at the GPA/FPGA time frame.) OTOH, if it's to much of a strain, or you don't think it will be helpful in your pump-it project, don't bother.
said by the guy who doesn't understand how bitcoin addresses are constructed.
then you're having trouble listening too. i've made that argument ad nauseum that individual miners can switch pools freely when their pool gets too big.
Lemme help you out a bit more since you don't seem to be getting it: And when they loose money because mining is not profitable except to those who have the right combination of the latest and most efficient chips and cheap power...?
lets get one thing straight here. you aren't coming from any position of enlightenment b/c you certainly aren't teaching anyone anything here. you're expressing an
opinion.
and fyi, i've been mining since 2011, first with gpu's, and then moved to asics so i understand quite well the economic incentives involved. and for that matter, it's been incredibly lucrative mostly b/c of the price increase since then. i've never heard you say that you mine so i'd keep my mouth shut b/c you'll never understand it completely w/o having done it.
Here's another thing that you will probably learn at some point, and from the looks of things probably to your despair. The money to be made on Bitcoin will eventually not be made from either fees or block rewards. (hint: think Google.) These people will happily mine at a loss if that's what it takes to tap into the business (and potentially other) intelligence coming out of the system. Obviously that's conjecture on my part, but it's a bet I'm playing. (It doesn't necessarily indicate that I'm selling out all my BTC of course. At least not immediately. But it certainly frames my expectations for the solution and it's competitors.)
i'd welcome Google anyday. b/c if they decide to mine, then so will Amazon, EBay, TigerDirect, and banks, etc. That would be great for Bitcoin as the price will have gone thru the roof if that happens. individuals could still probably mine in pools but they'd have to have access to cheap electricity and buy in early to new generation chips. but even if the #'s didn't work out, the big boys will provide enough diversification and decentralization to keep things moving along smoothly.
you always love to sound bearish yet you cling to your coins. this thread was made to torment gold bugs like you; i'm glad it's working.
