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by PierreRochard
4050 days ago
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Most miners sell their bitcoins to buy more hardware and pay their electricity bills... Why go through the trouble of running a mining rig instead of just buying the coins sold by miners in the market? It is true that the majority of Bitcoins are held by a few early adopters (NB: not today's miners!). They will diversify out as time goes on. Wealth can come from skill, hard work, luck, politicking, etc... Rejecting Bitcoin because it enriches a few people in a manner that you find objectionable is... myopic. Look around you, almost everything you do enriches one capitalist or another. Many intelligent people have tried finding a way around that, with limited to no success. Good luck. |
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That's not why I think Bitcoin is dead.
It's primarily the fact that nobody can mine it anymore, thus nobody will be interested in it. All of my friends who I introduced to Bitcoin (and were fanatics while they were mining) don't even talk about it anymore. They're all just steadily hoarding their coins, not using them for anything, in the hopes of cashing out millions of dollars once all of the later "suckers" come along and buy into the blockchain.
It was the "free money" aspect that really sold the idea to most people. Nobody cares about the "exchange money for Bitcoin just because Bitcoin is so much more fluid" aspect.