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The black hole cost of mining Bitcoin that no one is talking about

Discussion in 'Digital Currencies' started by Goldhedge, Nov 25, 2017.



  1. Joe King

    Joe King Gold Member Gold Chaser

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    "More than likely"? How would that be determined, how likely it is? The only way to know for sure would be to end the subsidy and see where the fees go.
     
  2. Buck

    Buck Gold Member Gold Chaser

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    It's Bitcoin!

    What could go wrong?
     
  3. Buck

    Buck Gold Member Gold Chaser

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    O.K.
    feeling contrarian today?

    You have a business, you need to make a profit and you let some profits slip through your fingers
    How long you gonna stay in business?
     
  4. Joe King

    Joe King Gold Member Gold Chaser

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    For getting worse, the price has gone up nearly $1k in the past day. That doesn't sound to me like anything about it is getting worse.
     
  5. Joe King

    Joe King Gold Member Gold Chaser

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    Possibly longer than your competition, if that loss comes from lower prices for your customers.
    Ie: if your energy costs are being subsidized and your competition's costs are not, it gives you a competitive advantage over your competition.
     
  6. Buck

    Buck Gold Member Gold Chaser

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    Come on Joe, we know what irrational exuberance does to peoples savings

    You must be making a small fortune on this price rise, do you plan on selling any?
     
  7. Buck

    Buck Gold Member Gold Chaser

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    and so, one exchange will cut their fee's by, what?
    2%?
    Not likely if all the rest are at par and if one does, you can suspect something isn't right
    LIKE A HUGE PRICE RISE IN A MATTER OF HOUIRS
     
  8. Joe King

    Joe King Gold Member Gold Chaser

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    I've made some, but no "fortune", not by a long shot. I only have a small amount of btc and kick myself in the @$$ every day for not having bought more when I did. I just wanted to be in the game at all. I want to see where it goes and I'm willing to fully risk what little I have invested in it.
    ...and this has also paid off greatly in entertainment value for me too. The money I spent on btc would have otherwise been long spent on something I probably wouldn't even remember right now. The entertainment alone has been worth at least as much as I've actually spent.


    Edited to add: I also admit that I do talk about btc to let friends, family and others I care about (including on this forum) so they are at least aware of it. Last thing I'd want is for this thing to really go to da' Moon and later have people ask me why I never told them about it. I want everyone to do well.
     
  9. Joe King

    Joe King Gold Member Gold Chaser

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    it's given some of that back. At $11093.80 right now. Was over $11500 earlier.
     
  10. GOLDBRIX

    GOLDBRIX God,Donald Trump,most in GIM2 I Trust. OTHERS-meh Site Supporter Platinum Bling

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    Only if you already own some.
     
  11. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    OMFG reading this thread is painful.

    Nine years old and people still haven't a clue how bitcoin works. lol

    People say they don't like fedgov screwing them with their debt money. People say they like free markets...here's bitcoin in a free market and governments are as hands off as possible.

    Happy? Nope not at all. lol
     

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