[2015-12-16] Eating the Bitcoin Cake

[LiteCoinGuy]

Eating the Bitcoin Cake

Bitcoin is bootstrapped like a startup: equity is paid to the employees initially until the company can make enough money to start paying higher salaries and less equity. In the case of Bitcoin, mining block rewards pay for the cost of the distributed network initially and slowly transition to have users of Bitcoin pay for that cost. And like a startup, Bitcoin miners are invested in the success of Bitcoin.

https://medium.com/@SatoshiLite/eating- ... .xis3gep69