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by bildung
1955 days ago
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No, it isn't dumb. The monetary base currently provided by bitcoin is tiny. If an economy would switch to bitcoin as it's currency, the amount of BTC in circulation would need to gain multiple zeroes. As bitcoin has a fixed cap, that would mean the price would rise. And that, in consequence, would make mining way more profitable, with newcomers entering the field and established organizations to employ more resources. And that increases the power needed. |
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