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Well then you'll be happy to hear that Bitcoin does NOT allow one entity to produce money out of nowhere.



Exactly. Bitcoin allows many entities to produce money out of nowhere...though this ethereal production will eventually stop at 21 million, if Bitcoin survives that long.


By the same logic gold miners produce money out of thin air too.

It's nearly equivalent, except the rate of production halves every 2 years.


It isn't out of nowhere, it is relative to the market price of electricity and transistors necessary to do the work to generate transaction hashes. There is a valuation of how much money you spend on hardware and power to run a bitcoiner miner to obtain the new btc entering the system.




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