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Bitcoin Standard Book mislead me
Hey everyone, right now im finishing reading BTC standard book, many people on reddit advised it as a must read for any hodler, but there is the thing which gives me a lot of confuse: It clearly states that bitcoin can stay as a reserve asset for long time because it meets all requirements of monetary asset. Although the trust in bitcoin is raised mainly in decentralisation and security of its network. Attacks are quite unlikely, centralisation too. However, we all know that soon or later, miners(who primarily ensure the network security), after the block rewards become relatively small, will be forced to focus mainly on transactions and their income will be from tx fees. In my world picture, this may strongly decrease the number of individual miners and consolidate the bigger part of computational power in individual mining companies, which can be easily affected by government regulations. Obviously this leads to breaking the most fundamental principle of BTC. After all, i am a rather newbie to bitcoin investing and may not understand everything, so would highly appreciate if someone can share their thoughts on this. Will be really interesting to know what others think. submitted by /u/Imaginary_Pay_4113 [link] [comments]
Hey everyone, right now im finishing reading BTC standard book, many people on reddit advised it as a must read for any hodler, but there is the thing which gives me a lot of confuse: It clearly states that bitcoin can stay as a reserve asset for long time because it meets all requirements of monetary asset. Although the trust in bitcoin is raised mainly in decentralisation and security of its network. Attacks are quite unlikely, centralisation too. However, we all know that soon or later, miners(who primarily ensure the network security), after the block rewards become relatively small, will be forced to focus mainly on transactions and their income will be from tx fees. In my world picture, this may strongly decrease the number of individual miners and consolidate the bigger part of computational power in individual mining companies, which can be easily affected by government regulations. Obviously this leads to breaking the most fundamental principle of BTC.
After all, i am a rather newbie to bitcoin investing and may not understand everything, so would highly appreciate if someone can share their thoughts on this. Will be really interesting to know what others think.
[link] [comments]
