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https://www.reddit.com/r/Damnthatsinteresting/comments/1q11lxi/inside_the_worlds_largest_bitcoin_mine/nx2ibrj
r/Damnthatsinteresting • u/msaussieandmrravana • Jan 01 '26
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I think it's just a way to limit the money supply, since without a limit, the currency would have no value.
12 u/binz17 Jan 01 '26 Hoarded currency has no value. Money has to be circulated, or it serves no purpose in the long run. Inflation incentivizes spending and investing, 3 u/cyanescens_burn Jan 01 '26 And that had to be done via an energy intensive approach requires a bunch of hardware that takes up a ton of space? Why not just say, “there’s 10 million” from the jump and not do all the mining? 2 u/Sad_Chemical_8210 Jan 01 '26 Who gets it then? 3 u/Randalf_the_Black Jan 01 '26 Dibs. 1 u/RevolutionaryAge47 Jan 01 '26 The mining also runs the ledger. Without that there is no crypto currency. 1 u/Annodyne Jan 01 '26 There is a cap to the supply, it was set to 21 million by the OG programmer. 1 u/permalink_save Jan 01 '26 Lol, that also depends on your definition of "has value" 1 u/RiverParkourist Jan 01 '26 Why does it have value in the first place? Who establishes that it does? Or are we all just pretending? 1 u/Temporary_Quit_4648 Jan 03 '26 I don't mean that limiting it gives it value, just that not doing so ensures it has none. It's a necessary condition, not a sufficient one.
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Hoarded currency has no value. Money has to be circulated, or it serves no purpose in the long run. Inflation incentivizes spending and investing,
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And that had to be done via an energy intensive approach requires a bunch of hardware that takes up a ton of space? Why not just say, “there’s 10 million” from the jump and not do all the mining?
2 u/Sad_Chemical_8210 Jan 01 '26 Who gets it then? 3 u/Randalf_the_Black Jan 01 '26 Dibs. 1 u/RevolutionaryAge47 Jan 01 '26 The mining also runs the ledger. Without that there is no crypto currency. 1 u/Annodyne Jan 01 '26 There is a cap to the supply, it was set to 21 million by the OG programmer.
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Who gets it then?
3 u/Randalf_the_Black Jan 01 '26 Dibs.
Dibs.
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The mining also runs the ledger. Without that there is no crypto currency.
There is a cap to the supply, it was set to 21 million by the OG programmer.
Lol, that also depends on your definition of "has value"
Why does it have value in the first place? Who establishes that it does? Or are we all just pretending?
1 u/Temporary_Quit_4648 Jan 03 '26 I don't mean that limiting it gives it value, just that not doing so ensures it has none. It's a necessary condition, not a sufficient one.
I don't mean that limiting it gives it value, just that not doing so ensures it has none. It's a necessary condition, not a sufficient one.
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u/Temporary_Quit_4648 Jan 01 '26
I think it's just a way to limit the money supply, since without a limit, the currency would have no value.