re: #195 Eclectic Cyborg

I’m not a tech expert.

But as I understand each new block that is mined and added to the block chain is worth about 6 BTC. Because of how the system is designed, it gets progressively harder to mine new blocks. Eventually it will become impossible to mine new blocks and the Bitcoin max limit will be reached.

We’re not there yet, though. So the tech bros. will keep on mining.

And this is where I throw up my hands and yell a lot.

If you have a finite resource (Only 20 Bitcoin out of a fixed figure of 14,000 remain!), you turn into the World Worm eating its own tail, spending $50,000 to acquire a $40,000 asset. And then what? The asset has limited its own growth and can’t be worth more than what it was worth on the day the last of a self-limited 14,000 has been mined.

Granted, I am a bear of very little brain, but it makes my head hurt.