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When the well runs dry...

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ShonnyConstant

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What do you think are the chances that once the mining well runs dry, the excitement of initiating a new mining operation will act as a blow to the Bitcoin paradigm? Once a much larger segment of the population is aware of the roots and process of cryptocurrency, do you think that something as trivial as the excitement of a new "gold rush" could put a major puncture in the balloon?

Posted on March 23, 2014 at 11:30 PM

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• adam

  

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  No.  I think mining will be abstracted and localized for 99% of people.  Mining is just a competition, hashing power is just a number relative to all the others.  The primary purpose it serves beyond a certain point is distribution of funds equitably, and we can do that better.

  Posted on March 24, 2014 at 12:18 AM
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• ShonnyConstant

  

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  I tend to agree. It's an abstract concept that nags at me a little. While I wouldn't be able to describe why in specific terms, I do like the notion of meta-coin projects such as LTBCoin as an insulating layer in Bitcoins integrity. Assuming I'm grasping the concept as well as I think I am.

  Posted on March 24, 2014 at 12:22 AM
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