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The Un Know Answers
HI, Just new, after few months of research before diving in, i still have the following un-knowns. Would love to have some comment on this
I recently enrolled on Saif learnings. Thanks, been good so far.
We have a successful business, and looking for investment into something other than Property for the next 5 – 10 – 15 years.
Been following bitcoin, i have not yet read the books, but would like to ask opinions on the following; (excuse the spelling mistakes, i am a math man lol)
– Re: the mining/operation operations, miners generate revenue now from generating a bitcoin, i dont understand the answer from lesson 9. Question was, from i recall around the security of the network possibly declining as the number of coins becoming available for miners, therefore making it less profitable for miners to continue? correct me if i am wrong?
Without knowing the finer details, and seeing it as a normal guy – so if there is no reward, then miners will cease to exist, then the network will no-longer be able to process the transections? – The only reward will be a FEE?
Is the fee, which will maintain profitability going to be inflated – so that it matches the wages of the current Monitary Banking Staff?
Energy will no doubt get cheaper, but will this compensate for “miners” maintaining profit?
In say 2140, will a energy be soo cheap that a fee will keep these guys profitable?
I understand from what you say, the current fiat system is paying numptys to do nothing to maintain the current system, but if there is no government to SUBSIDISE these numptys, then who or what will pay the “miners” to continue to operate the system?
Generally, and probably to my own fault, i dont understand why BTC should trading at be 50k or 1k?
Market or could this be commanded by government by De-value the USD, if it come to that? – For me, i dont see why it should be worth $1 or $1BN – it would only depenend on what a world government determines it is worth at such a time they determine to take it over?
These are honest and probably dumb questions, but they are the only ones i would like to know someones opionion on before i invest large sums of money from our company into the future.
Thanks,
Darren
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1 Reply
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Let me address each point separately:
– Mining does not become less profitable with time. Fees will accommodate for that.
– Read more about austrian economics to understand why things have a certain value. It’s the subjective valuation of people.
I guess I could go deeper but I would start with that
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