It hit 100k on December 5th ..
cryptodnes.bg
In the same way that you're not required to like sex in order to make money from prostitution.
ftfy.
Which is exactly why I think that Bitcoin - and other currencies that use the same technology should be outlawed, or taxed to extinction.
Please delay until I cash out.
Because outlawing drugs is so effective?
I think that cryptocurrencies are not as addictive as drugs, and it is rather harder to hide a cryptomining operation than a drug factory. The power consumption alone should be able to reveal the operation.
You just don't get it. No matter how dangerous drugs are, outlawing them simply doesn't work, never has worked and never will work. It is just an evil policy dreamed up by politicians who want to sink the jack boots in.
So you think that cryptocurrencies are as addictive as drugs, and that people will be attracted to invest in them no matter the cost or the risk. Interesting.
Who is talking about the US?
You are the one who tried to make the analogy with drugs. Not me.
Most people here do but it doesn't matter which country or countries you are talking about. They can't enforce a ban beyond their borders.
Are you assuming that wealthy crypto holders would divest their holdings?
Mining rewards (at least for bitcoin) are fixed by a formula and are independent of the amount of energy expended to add a block to the blockchain.
This quote by you was the first to mention drugs:
That was just to point out that calling something "illegal" won't curtail its use. It won't drive down the price either (more likely to increase it since it becomes a black market item). People who have a use for crypto (even if it is just for speculation) are going to continue using it.
Sorry, I'm not familiar with the word "divest", and googling didn't really help. What do you mean ?
Miners have to balance price for electricity with the reward. The reward is smaller if there is too many miners, as the reward is (on average over time) distributed between all the miners. And the reward is in BTC. So if the price of BTC drops to 10%, the reward will also drop to 10%, which will render most of the mines ineffective.
from https://corporatefinanceinstitute.com/resources/valuation/divesting/:
I'm pretty sure that I don't need to tell you what effect wide scale divestment of crypto would do to its price. For that reason, nobody would do so voluntarily. And I doubt that the government could force wide scale divestment or compulsorily acquire cryptos without just compensation (not without a sympathetic supreme court anyway).
This has been hashed out continuously over the past decade and a half. The block reward (in BTC) is independent of the energy used to mine it. If the price was lower then it would be uneconomic to expend vast sums of energy mining. But for the remaining miners, the energy cost would be lower.
