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

Buck

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#43
"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.
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?
 

Joe King

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#45
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?
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.
 

Buck

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#46
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.
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?
 

Buck

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#47
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.
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
 

Joe King

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#48
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?
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.
 

GOLDBRIX

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#50
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.

Only if you already own some.
 

solarion

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#51
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