Proof O Work | Table O Contents
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First Subtitle
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Two Coins
One of the coins expected to hit the market in 2025 via Initial Coin Offering or ICO is our Medcoin™ Tangerine Copper coin patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge.
Tangerine Copper
Gold Badge
The other coin expected to hit the market in the year 2025 is our Medcoin™ Gold coin also patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge, as well.
As follows,
Pay The Miners
November 12, 2012 is a day that will live in infamy.
Because that was the day the original bitcoin design dictated a drop in compensation for all miners.
From 50 coin to 25 coin, now that they’ve got you “hooked” on mining.
Did I mention that after 75% of all bitcoin that will ever be mined started circulating the design also called for a 2nd “halving” of the Miner compensation?
From 25.00 coin to the now current 12.50 coin.
The rationale for the two “halvings”?
Scarcity of coin up to a max of 21 million coins mineable.
But, the reality of price … Is intertwined with the cost of computing power, the cost of electricity, the cost of manpower, and the cost of premises.
Eight Cents
At the same time the cost of hashing a mathematical puzzle comes down due to the simultaneous increase in economies of scale plus the efficiency of energy, both the scarcity of the Miner payment and the difficulty in solving the mathematical puzzle in order to get in position to write to the block chain and be eligible to capture the transaction fees from the underlying transactions, increases due to the “halving” mechanism.
What is a bitcoin worth?
The cost of the computing power to hash a coin plus the cost of electricity plus the cost of manpower plus the cost of premises.
Originally set at eight (8) cents USD per BTC in October of #2009.
Whenever bitcoin sells at a discount to the cost of hashing a block, what will be the incentive for anyone to write the transactions to the block, let alone compete against other Miners through the solving of an ever harder mathematical puzzle?
Answer: The Transaction Fees.
Last Subtitle
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Note. The above synopsis was derived from an article written by Blank Author [1].
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