IMO any miner that profit seeks in fiat can be outcompeted by miners who profit seek in Bitcoin. The Bitcoin profit seeking miners can use certain strategies that give them a big advantage. Miners who profit seek in fiat don't really understand Bitcoin
Post by twetch#622
Profit seeking in fiat circumvents the need to buy BSV for those who don't yet have it. Do not be so quick to dismiss strategies. Think them through. Use your imagination.
What the chain says
- Block
- 635 662
- Time
- 2020-05-20T00:38:30Z
- Signer
- 1Eyk15KEeYX9JwH8e98pqpX3kTUuY9d43C
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#622
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1Eyk15KEeYX9JwH8e98pqpX3kTUuY9d43C VerifiedReplies (11)
They DO need to buy it.
Why? Because they need to have UTXOs to spend? Who says those have to be their UTXOs? Who says they can't be tokens? I see a lot of claims about what can't be done, but I can think of simple examples that contradict those claims.
Consider this use case: I am buying a house. It is listed on chain. I have no BSV. I pay in fiat to have the transaction made, and the record updated. I am now tied into the BSV economy, yet I have paid no BSV to anyone.
I think there are legitimate, valuable, BSV economy improving use cases that work outside of the confines of the mental constructs many are encasing themselves within...
There has to be a double coincidence of wants for a transaction to happen. What did someone want with fiat?
Because there is on reason for anyone to want dollars. Thus if they have dollars, they have nothing to offer us.
Hmm... I'm not convinced by your dismissal of the dollar as being without any value.