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The Langers Forum
Bitcoin mining and crypto currencies
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<blockquote data-quote="The Curious Lozenge" data-source="post: 5231315" data-attributes="member: 24317"><p>it simulates the limited supply of something like gold. the amount of gold on the earth is finite and so we attach value to that. the bitcoin becomes harder and harder to "mine" as the problems become more complex to solve. the rate of new bitcoins decreases and its value increases. of course its value is linked to demand as well, but if the complexity of a bitcoin problem stayed the same it would quickly become worthless and the market would become flooded with them.</p></blockquote><p></p>
[QUOTE="The Curious Lozenge, post: 5231315, member: 24317"] it simulates the limited supply of something like gold. the amount of gold on the earth is finite and so we attach value to that. the bitcoin becomes harder and harder to "mine" as the problems become more complex to solve. the rate of new bitcoins decreases and its value increases. of course its value is linked to demand as well, but if the complexity of a bitcoin problem stayed the same it would quickly become worthless and the market would become flooded with them. [/QUOTE]
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