On Tue, Oct 15, 2013 at 4:12 AM, Guido Witmond <guido@witmond.nl> wrote:
... [transaction fees, if applied, are non-zero] ... So there will be an incentive to run a 'miner'.
And when bitcoin usage grows to the cash flow of a medium sized country, the payout will be better than that of a state lottery. And your lottery ticket is a one time purchase.
perhaps your reference to lottery is appropriate; mining as a novelty and entertainment, rather than means producing effort. we can argue about the greater flaws in our projections, but odds are scores of decades fall against both our favor in some unexpected ways... in any case, more circular arguments. if i could spend X on power for GPU or direct BTC purchase, the latter is the better investment. if you continue to claim CPU and GPU mining (for bitcoin currently, not litecoin currently) is effective, show me math ;)