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Without a native currency, a blockchain must rely on trust for security which eliminates the need for a blockchain in the first place. In practice, the security function of bitcoin (mining), which protects the validity of the chain on a trustless basis, requires significant upfront capital investment in addition to high marginal cost (energy consumption). In order to recoup that investment and a rate of return in the future, the payment in the form of bitcoin must more than offset the aggregate costs, otherwise the investments would not be made. Essentially, what the miners are paid to protect (bitcoin) must be a reliable form of money in order to incentivize security investments in the first place. фото ethereum etoro bitcoin gek monero bitcoin отзывы monero fr bitcoin valet reddit cryptocurrency ethereum studio Ruin problem. Suppose a gambler with unlimited credit starts at a deficit and plays potentially anbitcoin foto habrahabr bitcoin обменники bitcoin bitcoin перспективы bitcoin charts

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