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Would you mine at a loss?

edisondotme Donor - Supporter
5 (23)
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# Is Bitcoin sustainable?

One of the criticisms of Bitcoin I've read is that it will become unprofitable for miners to operate because of halvings, network difficulty, hardware etc.

However since Bitcoin is basically already a centralized, central-bank, corporate-controlled, government coin, I could see a future where either Bitcoin or some CBDC is mined by the government using the tax-payer's dime (or by private industry but still somehow using the tax-payer's dime) to pay for costs to facilitate the operation of our new CBDC money system.

This sort of answers the question of how will we keep Bitcoin afloat on basically life support.

There's also the possibility of "cypherpunks" volunteering to mine Bitcoin at their own cost and inconvenience. The same way that there are plenty of privacy autists who host public-good privacy services either by donations or at a loss (exit nodes, archive websites, torrent related sites, etc.)

# There will always be a use case for XMR which means it will always have users.

I have no doubt in my mind that there are people mining Monero at a loss out of principle or even because it is one of the few ways to safely and privately acquire Monero. I also have no doubt that there will always be people mining in the future or hosting full nodes, even at their own loss and inconvenience.

Can the same be said of Bitcoin? Or other cryptocurrencies? Probably. But Monero has such a strong following and righteous mission that set it apart from everything else.

# Most people's conception of cryptocurrency is that it is just a speculative money market

Just listen to the way people talk about crypto and it is simple to see why Monero is so valuable. Of the people in crypto, I hear most people speak about it in a speculative money market way. They don't actually care about principle or utility of blockchain. Few really appreciate how powerful yet surprisingly simple the white paper is.

# I hate blockchain companies

I've gone to tech parties at "blockchain" tech companies and tried to talk to people about crypto, but their minds are empty. None of them have shown me that they understand the beauty of blockchain technology, or have even read Satoshi's white paper. They understand it maybe at an intellectual level, but their employers are primarily focused with how they can use NFTs or Web 3.0 stuff to separate fools from their money. There's nothing of value being created at these companies.

The company about us pages at these places says stuff like:

"We want to make it easy to onboard beginners in the crypto space to participate in the global, decentralized economy as a vehicle for financial freedom."

"We want to build a nationwide and international network of bitcoin ATMs to achieve its goal of bringing cryptocurrency to the masses"

"We’re helping build a financial system that is open to everyone."

All of these statements have a little asterisk, of course.

There was only one time that someone knew about Monero and used it but to him, it was basically the equivalent to a gift card or a Chuck E. Cheese token that only worked on the dark web.

# Where are the cypherpunks?
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glamorous_oak Donor - Supporter
5 (22)
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I already do even on p2pool because i value getting anonymous non-KYC monero and supporting the network higher than some fiat loss. Same reason why i offer discounts here (shameless plug).

That being said there should be some profit for mining to strengthen the network and prevent 51% attacks.

BTC is the same as stocks now, people buy it because they think it will go up not because they think a stock in itself is something useful which is opposite to monero with all its value being directly tied to its utility and feature.
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