Weaving Is A Better Metaphor for Bitcoin, Instead of Mining

[MarketNeutral]

Should I buy an ASIC?

[zimmah]

it's probably a better metaphor but too late to change it i guess and also it sounds less cool.

[odolvlobo]

I think Mining is still much more better. It's easier to misunderstand for people too.

FTFY

The block reward is a temporary bootstrap. At some point there will no longer be a block reward and people will have to go to history books to understand why it is called "mining".

[franky1]

The block reward is a temporary bootstrap.

if i employed you for 3 months, that would be considered temporary.. if i employed you for 120+ years, would you call that temporary?

for everyone living today, blockrewards are a permanent feature. as every single one of use will never see a day when rewards are not part of bitcoin.

i would say bitcoin rewards in our grand childrens future, will be temporary..

[odolvlobo]

The block reward is a temporary bootstrap.

if i employed you for 3 months, that would be considered temporary.. if i employed you for 120+ years, would you call that temporary?
for everyone living today, blockrewards are a permanent feature. as every single one of use will never see a day when rewards are not part of bitcoin.
i would say bitcoin rewards in our grand childrens future, will be temporary..

Transaction fees currently average about 0.1 BTC per block and the block reward will be less than 0.1 BTC per block in about 30 years. Of course, a rising exchange rate will put downward pressure on transaction fees, but they will still dominate the block reward in less than 120 years.