My understanding is there's very little generosity. If the going stories are true, some of these megamines are set up right next to the spillways of hydro stations, which have insufficient demand due to ghost cities, shitty planning, vast distances to span with ultrahighvoltage powerlines, etc., etc.
Taxes and greased palms are better than the alternative, which is zip

@Elmo re. "There is no greed": There is, just as much, but they have the decency not to turn it into a virtue. Greed is shit, Elmo, greed is bad.
That price, tho... https://youtu.be/1ytCEuuW2_A

Ah, I misunderstood what you were saying, my mistake.
The thing about "shutting off rigs" = "going out of business," and miners with serious money might want to keep mining at a huge loss, to bankrupt the competition.

OK, let's say you're a miner, and it costs you $1,000 to mine 1BTC, on the average.
1. Miners try to sell coins for $1,000 to cover their costs.
2. No one buys.
3 ? ? ?
Wat do?

---

I'll tell you wat do.
1. You go out of business, go bankrupt, like KNC is doing.
2. You dropping out drops the difficulty (eventually).
3. This drops "production costs" for other miners.
4. When enough miners (1), the miners which didn't drop out are able to sell their coins for what the market is willing to pay, reestablishing equilibrium, per Satoshi's design

With you up to here.
What do you mean by "at a loss"? Not below the price of electricity it takes to mine the coin, that just drives you deeper into the red.
There could be some Mexican standoffs where miners may mine at a total loss, to bankrupt the competition, but this is strictly a short-term thing.

With you thus far...
That's where you loose me. If you're making hula hoops & you need to sell 10k hulas/day @$5 to make ends meet, and your buddy, the other hula manufacturer needs to do the same, you're both up shit's creek. Him going out of business won't help you much either -- you both grossly overestimated hula demand


I denominate cost in $, how do you denominate value?  Or are you using "value" as just another word for cost?

And you were doing so well up to here The cost of production does need to below retail price, otherwise you're losing money. "Value" is a different variable altogether, so having price (cost) on one side and "value" on the other is comparing apples to oranges.
Nothing Marxist about any of this.

@TERA, which exchange are you watching?

I'm sure you're right. This time it's totally different

Bitcoin and BTCeanies, my friend. Lack of buying panic is one of the things the two have in common.
I, too, remain cautiously optimistic. Let's see how this plays out.

BULLSHIT. Go wash your mouth out with soap. You can't even lie right. (unless you work with retarded people. Do you work with retarded people?)

How is it that you still can't understand that it doesn't matter what money does over time when you pay your bills with it? Once the bill is paid, that money is out of your hands, don't worry about it. You get paid monthly, you pay your rent monthly. What's wrong with you?

Another bitcoin expert was telling me that the price is going up because halving, but ...you tell me it ain't so?

And only hours to the (>$15) drop. Not trading advice, have been wrong before.
But not often

Let me understand this. You convert your paycheck from the US army into bitcoins via BitWage, and then you use Bitwa.la to pay your landlord via a SEPA transfer. BitWage charges you a fee, Bitwa.la charges you a fee, and the SEPA itself is a bank service. So you've added 3 middlemen, fees, and ridiculous complications for what us Luddites do via a seamless p2p cash-in-hand, 0-fee exchange

Why do I feel you're playing me? Other than you never mentioning that you were paying off the filthy fiat loan you got from bankster j00z to buy a house?

'The etymology of tangibility shows that in the late 14th century it was used as a “tangible thing, something perceived or presented to the senses”.'

Someone should tell this intilecshual about common/technical/contextual usage, and why it often different from the word's origin. See "intrinsic value" in phil. vs. "intrinsic value" in econ.

@Asrael999: Get back to me about permanence & temporality after Bitcoin has been around for a meaningful length of time.
As it is, 7 years is laughably short, even when compared to the worst of fiat currencies.

Fiat money is not meant to be a good long-term store of value, by design. It's meant to facilitate frictionless commerce. Normal, IRL people do not keep their wealth in their mattress, because that's how you get poor. No more than they use banks of capacitors for long-term electricity storage. The fact that caps will leak down over time doesn't make them worse than batteries, it's a different thing.
Why is this so difficult to explain?

Of course USD isn't tangible, lrn to fiat. You guys are like some savage tribe that time forgot, "if I can't eat it/smoke it/fuck it touch it, it ain't worth shit."
USD  is backed by "ability of a nation to collect taxes," i.e. jackbooted thugs, i.e. the military/industrial might of my country.
Bitcoin is "backed by an encrypted decentralised ledger," which is to say NOTHING

Do i own any coin?! Bite your tongue, child! Sure, played with bitcoin in the past, but we all did some stupid shit when we were young.

You can also print "I got Assburgers" on a piece of paper or stamp it on a coin, and, while your retardation is almost palpable, it, nevertheless, isn't tangible. The paper is, your Assburgers aren't.
You must learn the words you use before using them, starting with the word "tangible."

Sure. Use that worthless government scrip every day. Granted, BTC fandom is more fun, but ignore the lel, and it's USD all the way

Was hard-forked already, will be soft or hard-forked again in the near future. Easy as pie.
Bitcoin isn't tangible, forget stone. Just a bunch of bleeps and bloops, 1s and 0s, memory/gate states in a bunch of Chinese 'puter gear: it's literally *nothing*.
You eat a lot of acid, Miller, back in the hippie days?

There's no need to be upset, I like your idea. How about you pay for my time to come over to your shitty house, and if you behave and I like you, I'll let you suck my dick, how would that be?
Or are you gonna backpedal and claim you're too broke?
Where your shitshack at, let's have the addy

Don't like eBay? Vote with your feet & use Craigslist. Or keep your shit. Or sell it on the roadside, don't care.
Next time find out how much shit costs b4 using it, lrn 2 free market

x30, you say? lessee ... 5000 btc is 5% of the wallet, so x20 is 100000 BTC ... you're expecting x30 profit so * 30 makes it 3000000 BTC ... how much is that in USD, I wonder? 3000000 * 570 = $1,710,000,000.
Did I get that right? Mycelium wallet needs to be worth one billion seven hundred and ten million US dollars?
Don't let anyone tell you your goals aren't realistic, that one's like money in the bank, bro!

BTW, how's that Lisk investment of yours doing? All good?