There's really another one here on the DP who figured that out, finally.
I talk about it all the time, but most Bitcoin followers don't want to listen or think that through to the end.
I thought even deeper about it and finally came to the conclusion that this is all a big scam:
Think about mining gold or silver. If the value of gold rises, there is an incentive to mine more. So a gold mine owner profits from this development while the additional supply brings the prices back down.
What happens when the price of Bitcoin rises and the people want to mine more? The algorithm adjusts its difficulty so that the overall Bitcoin creation rate stays the same. The individual mines less! This drives the price higher even more, because a miner now has higher production costs (electricity) and he won't sell it for a lower price.
Now, who profits from that? Do you smell something?
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