Each halving has seen a rise in the price of bitcoin, so when you conclude "miners are going to be half as profitable" is not true. The rise in price of bitcoin offsets the reduced bitcoin miners receive. There have been 2 instances where the block reward has dropped in the past. One from 50 to 25 bitcoins per 10 minutes and 25 to 12.5 bitcoins per 10 minutes. Miners have not 'switched off'. Infact, it appears they've 'switched on'.
Also, Bitcoin doesn't handle 5 transactions per minute, it handles 5-7 transactions per second. Solutions such as the Lightning Network are being worked on to deliver instant payments for the masses.
I suspect the masses are not taking advantage of the Lightning Network yet because we're in the 'store of value' phase of adoption. People with Bitcoin are holding on to them in expectation that it will be worth more in the future. The "sov idea is quite silly" doesn't seem silly for these individuals.
- Forums
- CFDs
- Never forget
Each halving has seen a rise in the price of bitcoin, so when...
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
BGD
BARTON GOLD HOLDINGS LIMITED
Alex Scanlon, Managing Director & CEO
Alex Scanlon
Managing Director & CEO
SPONSORED BY The Market Online