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Author Topic: What you going to do when your a bitcoins millionaire ?  (Read 3086 times)
BitCointransfers
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May 28, 2011, 02:59:26 AM
 #21

Millionaire bitcoiners, at least ones that mined their owned coins, will be limited to the few very early adopters and the masters of VHDL FPGA/ASIC design....
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eturnerx
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May 28, 2011, 05:06:33 AM
 #22

I'm going to invest in a massive worldwide education campaign to teach people the difference between your and you're!  Grin
Surely your not serious. You're idea is pointless!

WatchMine - get Bitcoin prices and pool stats on your Mobile
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May 28, 2011, 05:25:14 AM
 #23

Obviously I would get a James Bond supervillain lair and I'd pay back that 0.02 BTC to the faucet.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
jerfelix
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May 28, 2011, 06:00:20 AM
 #24

The bitcoin protocol makes an assumption: That the value of a Bitcoin is inherently limited by the cost of electricity used to generate it. What if you found a very large, largely untapped source of electricity? What if you installed a supercomputing cluster near your shiny new Gigawatt solar plant?

I disagree, and it has been discussed and rehashed many times.

The assumption that you are posing is backwards.  It's not the cost of electricity that determines the value of Bitcoin, it's the value of Bitcoin vs. the cost of electricity that determines whether people will find it economically beneficial to run the verification program (i.e. Mining).

As people find new sources of energy, and lower cost computational capabilities, it becomes more economically beneficial to perform mining.  So more people will mine until it's not really all that beneficial due to competition.  And more miners (i.e. verifiers) means that the system is stronger, not weaker.

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May 28, 2011, 06:07:36 AM
 #25

I'll invest heavily in an invention my talking dog came up with to make water flow up. He either said that or asked for more kibble. Hard to tell.

BitBrochure: Get the project out in meatspace! http://goo.gl/pkZFP (http://goo.gl/pkZFP)

Society Press: Buttons and Zines! http://www.societypress.org/ (http://www.societypress.org/)

฿technowizard12 (http://myb.tc/technowizard12)
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