reply on: How Governments Can Easily Kill Bitcoin \ stacker news ~bitcoin

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71 sats \ 13 replies \ @Undisciplined OP 9 Aug \ parent \ on: How Governments Can Easily Kill Bitcoin bitcoin

I had similar thoughts as you, while watching.

Part of the case he's making has to do with how long bitcoin goes between difficulty adjustments. Someone else was talking about this recently and I don't know enough to say whether they're right or wrong.

If demand plummeted and the vast majority of miners left suddenly, Bitcoin might stop being able to function well and it could take a very long time to get to the difficulty adjustment.

53 sats \ 11 replies \ @grayruby 9 Aug

You should check out Preston's podcast with Bob Burnett. He predicts over the coming years you will essentially have a futures market for blockspace the same you do for oil where companies can smooth out the variance in revenue.

Now if there was no demand for block space there would be no need or demand for this type of market but it was an interesting conversation and somewhat adjacent to what we are talking about, which is why I brought it up.

41 sats \ 0 replies \ @Undisciplined OP 9 Aug

Sounds interesting

20 sats \ 9 replies \ @Bell_curve 10 Aug

A futures market for hash rate

There are a few markets for buying hash rate like nice hash.

I even won a BCH block!

21 sats \ 8 replies \ @grayruby 10 Aug

6.25 or 3.125?

50 sats \ 7 replies \ @Bell_curve 10 Aug

Lower

I forget the exact number. I received a fraction of what the entire mining team received. I purchased 12 dollars worth of hash rate. My reward was 50 dollars.

I can double check the exact amount in my nice hash account

21 sats \ 6 replies \ @grayruby 10 Aug

I see. I thought you got the whole block reward. I was thinking that’s not bad you flip that for bitcoin and it’s a nice stack.

50 sats \ 5 replies \ @Bell_curve 10 Aug

I should have been clearer. I won a fraction of my block commensurate with my investment or contribution.

Essentially I paid 12 dollars to join a mining pool

Edit: the only reason I joined a BCH mining pool is that it’s easier to win a block reward or a fraction of it

21 sats \ 4 replies \ @grayruby 10 Aug

Did you end up going to watch some of Chargers training camp?

50 sats \ 3 replies \ @Bell_curve 10 Aug

I did.

I will post some pictures and videos in sports territory

Before Herbert was in a walking boot

Edit: tickets were free. I told my friends about it too. Take your kids.

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50 sats \ 0 replies \ @Bell_curve 10 Aug

Most miners leave temporarily. If most left permanently new miners would enter or existing miners would increase their hashrate

Too many miners have made large capital investments