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Bitcoin Economics and Evolution | The Saylor Series | Episode 16 (WiM062)
The "What is Money?" Show
Bitcoin Mining: An Unstoppable Vortex of Incentives
There's this virtuous cycle of bit coin that no one has figured out how to break. As more energy and technologyis allogated into the network, bit coin becomes more secure. This makes its network more robust, makes bit a better store of value. A price increase in bit coin makes mining more profitable. More people want to buy it as money, buy it and hold it as a store of value, this causes its price to increase. It's like bit coin is living money in a lot of ways.
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