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November 16, 2014, 02:21:02 AM |
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Whilst out shopping for weekly groceries i was thinking over the fact we've hit 13,500,000 mined coins now and what this holds for the future. I started thinking but not in a negative way how important adoption was by date "x".
Lets propose for a minute that the miners with farms are using this purely as a money venture and that there is no care for bitcoin outside what they can mine and dump i.e. as long as cost of miners and power < profit from coin = win. At the same time the miners are important for our transactions to keep the network strong.
So i got thinking... is there a day x where adoption/market saturation should reach a certain point to ensure the future strong growth? This day x i'm assuming would be a point where minimal coins enter the market because of costs and reward per block. If mining becomes more unfeasible and people leave the game if we don't have the adoption and use in the market would it be in danger?
Would it be harder to foster a growing bitcoin market if less coins were entering the market for new adopters to acquire? I'm assuming coins at $2000 would be less attractive to the market as new people would compare it to fiat and feel more comfortable with that due to costings?
Just some ramblings related to coins left to required market adoption. Thoughts?
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