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The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste.

Satoshi Nakamoto

Related Topics

Bitcoin Crypto Currency Electricity exchange Utility Waste

Bagwalas

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Electricity exchange Utility Waste
Bitcoin generation should end up where it’s cheapest. Maybe that will be in cold climates where there’s electric heat, where it would be essentially free.
SATOSHI NAKAMOTO

Bitcoin Cheap Climate Cold Generation Heat
When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes.
SATOSHI NAKAMOTO

Asset Bitcoin Crypto Currency Price Share Market Supply
Subscription sites that need some extra proof-of-work for their free trial so it doesn’t cannibalize subscriptions could charge bitcoins for the trial.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Proof Subscription
Bitcoin addresses you generate are kept forever. A bitcoin address must be kept to show ownership of anything sent to it. If you were able to delete a bitcoin address and someone sent to it, the money would be lost.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Money Owner
Bitcoin would be convenient for people who don’t have a credit card or don’t want to use the cards they have.
SATOSHI NAKAMOTO

Bitcoin Convenient Credit Want
If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.
SATOSHI NAKAMOTO

Believe Bitcoin Convince Crypto Currency Sorry Time
Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Donation Lost
The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Lifetime
Only people trying to create new coins would need to run network nodes.
SATOSHI NAKAMOTO

Coin Crypto Currency Network People
Imagine if gold turned to lead when stolen.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Gold Imagination One Liner Stole
Bitcoins have no dividend or potential future dividend, therefore not like a stock. More like a collectible or commodity.
SATOSHI NAKAMOTO

Bitcoin Commodity Crypto Currency Division Future Potential Stock
You could say coins are issued by the majority. They are issued in a limited, predetermined amount.
SATOSHI NAKAMOTO

Amount Bitcoin Limitation Majority
The Bitcoin network might actually reduce spam by diverting zombie farms to generating bitcoins instead.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Network
For greater privacy, it’s best to use bitcoin addresses only once.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Privacy
Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to.
SATOSHI NAKAMOTO

Audience Description Hard Writing
When there are multiple double-spent versions of the same transaction, one and only one will become valid.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Transcation Valid Version
The heat from your computer is not wasted if you need to heat your home.
SATOSHI NAKAMOTO

Bitcoin Computer Crypto Currency Heat Home Inspirational Waste
Bitcoin isn’t currently practical for very small micropayments.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Practical
I’m sure that in 20 years there will either be very large transaction volume or no volume.
SATOSHI NAKAMOTO

Bitcoin Crypto Currency Transaction Volume

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