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RE: Can't even buy 1 bitcoin for yourself? Way too expensive? Let's look at STEEM too for a second.

in #bitcoin7 years ago

Just off faucets, you can easily amass a few dollars a month. This is piffling here in the US and the rest of the developed world- but I'd assume about 3 billion people could benefit from this. I'm very concerned about BTC's mining costs, but there are so many other efficient alternatives, the entire world could shift to a resource-based system piggy-backed on such an economic transition.

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The entry barrier for some coins is negligible too. As a monetary standard, BTC is an excellent prospect, even with the mining and operational costs- eliminate mining cost by eliminating mining past 95% of the supply (this is like accelerating to .95c, when your this close, the return on effort is probably not worth it to get to .9999999...) and tweaking the code to lower operational costs would make a huge difference here.

That has already been done by Peercoin. (Which is a bitcoin forked clone without needing mining to support the network)

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