Replies (23)

I agree, but they’d have to buy the corn and then dust the utxo set. That would presumably get pretty expensive. I dont know I haven’t done the math on what the smallest UTXO you could make to cover fees to burn the utxos. Probably could do it for a while and burn a lot of coins but by the end the price would probably be considerably higher.
Bitcoin Mises's avatar
Bitcoin Mises 1 month ago
Then price will go up quickly. That’s true for all things, houses are expensive because of the money printer but it does not negate the fact that free markets and prices are the best way to deal with scarcity.
Bitcoin Mises's avatar
Bitcoin Mises 1 month ago
If it is consensus valid then it is valid. The alternative solutions are worse than fees.
Bitcoin Mises's avatar
Bitcoin Mises 1 month ago
Valid transactions are not an attack. They will have to buy the bitcoin. In doing so they will destroy their paper currencies. Also The bitcoin is divisible it will withstand this so called attack
Bitcoin Mises's avatar
Bitcoin Mises 1 month ago
Thinking governments printing money to buy Bitcoin is an attack on Bitcoin doesn’t make sense. It with increase the fiat price of bitcoin. It will destroy the fiat currencies. Bitcoin wins.
Bitcoin Mises's avatar
Bitcoin Mises 1 month ago
Correct that is utxo usage. And the beautiful thing about bitcoin is you can not censor it.