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There's other flaws besides power requirements. What will be the incentive to participate once the last Bitcoin is mined? I suppose nodes could charge transaction fees like everyone else. While the ability to print money is a great evil, the inability to print money creates problems as well. There are legitimate uses of monetary policy to stabilize inflation. As we can plainly see, the USD is more stable in value than Bitcoin at the moment, and stability is a cornerstone of a currency.
Anyhow, if Aerohead isn't going to schedule compute time on my setup, I might as well learn about crypto.
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