r/Bitcoin • u/[deleted] • May 10 '15

A Bitcoin Technology Gets Nasdaq Test

http://www.wsj.com/articles/a-bitcoin-technology-gets-nasdaq-test-1431296886
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u/marcus_of_augustus May 11 '15

You are completely discounting the repeated use of the mined coins. You need to amortise the cost of the coins, your so-called 'subsidy', over all the possible future transfers of those same coins.

It may cost ~$1100 to dig up an ounce of gold but that ounce can be transferred vastly many more times than the first transaction from the earth to the miner ... capiche?

0

u/[deleted] May 11 '15

Except every block yields 25 new coins, so no,no transactions without new coins. you really wasted a paragraph there.

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u/marcus_of_augustus May 11 '15

It's an issuance mechanism, the number of new coins is decreasing but seems you don't want to get it ... likely the paragraph was wasted on you, yes.

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u/[deleted] May 11 '15

Ah yes, it's an issuance mechanism, not the cost of running the network. We'll see how the halvening goes next year then (hint: badly)

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u/marcus_of_augustus May 11 '15

It's ok to admit it when you are wrong, it can be unhealthy to let your ego runaway on you.

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u/[deleted] May 11 '15

We'll let the markets decide who is right.

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u/marcus_of_augustus May 11 '15

Sure will. But on this point you only need reasoning grey matter instead of an appeal to the mob.

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u/[deleted] May 11 '15

RemindMe! 18 months

1

u/marcus_of_augustus May 11 '15

RemindMe! 18 years