Comments by "p11" (@porky1118) on "How u0026 Why to Mine Monero" video.

  1. 16:55 I think we should do it for money, though. It needs to be profitable so we can keep mining. The more people that are mining Monero without being profitable, the less people will be profitable, which is a lose-lose.
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  2. 4:12 Also in Bitcoin, there's a steady incentive to keep mining it. Because of the small block size, there will likely be a lot of competition to get a block, which causes the fees to go up. If fees are too expensive, less people will use Bitcoin, so the fees won't be so expensive anymore. This will lead to less miners and reduced network security. Since the highest network security is an important selling point of Bitcoin, this might lead to a decrease in price, so the users are willing to pay more fees again, so the price doesn't go down any further. I don't think, there is a downward spiral bitcoin could go down. But if there is because of that, it would most likely benefit Monero.
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  3.  @botmert  You have a good point. I have to agree. But I'm not totally convinced yet.
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  4. 4:35 This disruption might have some benefits. Because of that, there's a hype around every four years, which brings public attention to Bitcoin and cryptocurrencies as a whole.
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  5.  @Tallero  The internet is more centralized than you might think.
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  6. 1:45 People with ASIC miners don't really control the blockchain. They still have to fulfill the rules enforced by the nodes. MIners might censor some transactions, but that's basically all they can do. As long as not all miners censor the same transactions, nobody will be censored.
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  7.  @mgh7634  This.
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  8.  @anythingbutASIC  I have no idea what you are trying to tell me. I don't know what a Dyck measuring is. I don't see how the question if Bitcoin has been compromised is not related to the mining incentive.
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  9. 1:25 That's bullshit. An ASIC miner is not a money printer. Mining is still only worth it if the energy is cheap. It doesn't matter if you use ASICs or regular CPUs. Just in order to mine CCs, where ASICs exist for, mining is not profitable if you don't have an ASIC. Except in places, where the energy is basically free. In these cases, it might still be profitable, but much more profitable when using ASICs. So only the entry hurdle is higher. But for most people, mining can't be profitable anyway, at least not in the long term. You basically need to overproduce energy regularly. And there's also a huge benefit when having to use ASICs. If someone buys a lot of ASICs to harm a cryptocurrency, it's much more expensive than just being able to use CPUs or GPUs. People and companies don't already have mining ASICs lying around somewhere if they don't already mine a specific CC. And if you own ASICs for a specific CC, you have no interest in harming a CC. If the CC is harmed, if it's worth less, mining is less profitalbe and less ASICs are needed, so you couldn't even sell these ASICs profitable. And the CC might even be able to regenerate as soon as you stop the attack. It would be an economical disaster to do this.
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  10.  @cant_Comment  You didn't find a block. You might mine for years without finding a single block.
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  11.  @cant_Comment  When on a pool, you should get some payout. There often is some minimum payout, you need to reach, before some payout comes. But I don't know much about pool mining, I only used p2pool so far. Your mining efficiency is low when huge pages are disabled. You need to run as root/administrator to get higher performance.
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