What do you guys think the political implications of bitcoin will be if it's successful? - Page 3 - Politics and Economics

Would the "dabblers" here be likely to make more than they are paying in electricity (let alone the hardware costs)?

The use cases are really black market and (though this is a bit redundant) international currency transfer.

Bitcoin isn't currently profitable to mine for most people, but many other currencies are. At current Ethereum prices you can pay off your hardware in less than 60 days.

That's assuming you can find the hardware, because at current Ethereum prices everybody is completely sold out of the best GPU's for mining.

06-19-2017 , 09:45 PM

#52

BadBoyBenny

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Join Date: Dec 2003 Posts: 7,799

I like how OP thinks a 275% annual increase in value for 8 years is evidence of it not being a speculative bubble

06-27-2017 , 11:54 AM

#53

bobman0330

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Join Date: Aug 2004 Posts: 24,234

Here's a good article about blockchains. The author is not impressed.

06-27-2017 , 12:13 PM

#54

DudeImBetter

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Join Date: Feb 2012 Posts: 10,664

Quote:

Originally Posted by synth_floyd

Why would you want a currency that people have no control over? Sure, you don't want a central bank to horribly manipulate a currency, but in theory you would want a well managed currency over a non-managed one, no?

This is the crux of every LOLbertarian vs. normals discussion.

LOLbertarians look at society and throw their hands up, exasperated, ready to tear everything down and be rid of public centralized societal structures.

Normals be like...

...why not just tweak what isn't working and NOT endure chaos?

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