Avalon sale for $466 million pending.

[European Central Bank]

I can't find a topic on this which is kinda surprising.

http://www.coindesk.com/sale-of-bitcoin-company-behind-avalon-mining-chip-awaits-government-approval/

What do people make of this? There must be some life left in bitcoin mining if this sale goes through.

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[Searing]

I can't find a topic on this which is kinda surprising.

http://www.coindesk.com/sale-of-bitcoin-company-behind-avalon-mining-chip-awaits-government-approval/

What do people make of this? There must be some life left in bitcoin mining if this sale goes through.

Well in my view Avalon saw that the halving was coming. They have older chips and would need to continue development etc. They saw this other company
that would absorb them (probably some kinda stock xfer and cash) and would allow the same team and devlopment. So (imho) they PROBABLY let the works go
for 1/2 the price they probably could have gotten 1 year ago (halving) and walked. The dream lives. They are out with stock options and cash. Also they all
kept doing what they are doing win/win/win ...at least at the avalon group end.

The folks that bought them must have gotten the works at a price that this development will be important and very attractive to them after halving for products/mining/etc

The group buying it from Avalon...seems to be taking the most risk...but then again ...maybe they got the works for a song so it is more even Steven then I think now.

anyway guessing at my end here

[Yasman]

The company who bought the Avalon should spend the $466 to buy bitcoin, after 3 years, it is $4660 million.

[Yasman]

The company who bought the Avalon should spend the $466 to buy bitcoin, after 3 years, it is $4660 million.

Don't be stupid, first of all half a billion in buy orders would hyperinflate the price, second of all this company obviously has a plan. They make parts for power companies, they are going to be using this to their advantage. Could you imagine a mining company that builds miners and mines below electric cost, because I am sure that is exactly what this company envisions.

$446 m is about 0.9 million bitcoins if the company buy slowly. 0.9 M is 4% of total monetary supply. If bitcoin becomes big, that 4% is also big.

[Satlite]

The company who bought the Avalon should spend the $466 to buy bitcoin, after 3 years, it is $4660 million.

Don't be stupid, first of all half a billion in buy orders would hyperinflate the price, second of all this company obviously has a plan. They make parts for power companies, they are going to be using this to their advantage. Could you imagine a mining company that builds miners and mines below electric cost, because I am sure that is exactly what this company envisions.

$446 m is about 0.9 million bitcoins if the company buy slowly. 0.9 M is 4% of total monetary supply. If bitcoin becomes big, that 4% is also big.

So this company should gamble 446 million instead of using its advantages with partners that happen to be power companies that very few if no one else in the mining scene has.

If you spend $466 million now to mine, you will not get 0.9 million bitcoin in the future. I am pretty sure about that.

[Cuidler]

If you spend $466 million now to mine, you will not get 0.9 million bitcoin in the future. I am pretty sure about that.

Very likely not possible to mine one million coins anymore because not many coins left to distribute and there is big competetion from others as well, but the plan might be similar to Bitmain: manufacture miner units, run these at places with very low electricity cost and obviously sell any not used mining equipment (probably older generation). Its much safer plan than buy one million coins and hold speculatively for possible price increase in future.

[European Central Bank]

Its much safer plan than buy one million coins and hold speculatively for possible price increase in future.

i dunno. mining moves so fast that nothing's guaranteed to anyone. in your scenario someone might drop a few million on their new setup and find themselves making zero if a rival comes out with an unassailable advance.