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Since new version blocks are accepted by both old and upgraded nodes, the new version blocks eventually win. bitcoin dollar miningpoolhub ethereum пулы bitcoin forbes monero pools ico monero sell bitcoin мерчант bitcoin принимаем bitcoin лохотрон bitcoin skrill withdraw bitcoin putin bitcoin получение bitcoin dance ethereum install global bitcoin автокран bitcoin conference rigname ethereum bitcoin партнерка история ethereum stats bitcoin wmx ethereum mine андроид bitcoin credit bitcoin видео bitcoin кошелька bitcoin direct bitcoin eobot battle bitcoin lurk bonus bitcoin Over the course of the twentieth century, the dollar transitioned from a reserve-backed currency to a debt-backed currency. While most people never stop to consider why the dollar has value in the post gold era, the most common explanation remains that it is either a collective hallucination (i.e. the dollar has value simply because we all believe it does), or that it is a function of the government, the military, and taxes. Neither explanation has any basis in first principles, nor is it the fundamental reason why the dollar retains value. Instead, today, the dollar maintains its value as a function of debt and the relative scarcity of dollars to dollar-denominated debt. In the dollar world, everything is a function of the credit system. Nominal GDP is functionally dependent on the size, and growth of the credit system, and taxes are a derivative of nominal GDP. The mechanisms that fund the government (taxes and deficit spending) are both dependent on the credit system, and it is the credit system that allows the dollar to function in its current construct.Planning stageобмен ethereum For one, cryptocurrency mining nowadays requires a lot of resources both in terms of computing power and electricity. Why? Because crypto mining requires a lot of computing power to generate new guesses continually. 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This tends to turn on one’s view as to whether fees or issuance should pay for security in the network. So far, no permissionless cryptocurrency has found a cost-free way to secure the network (unless you believe what the Ripple folks have to say…). 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