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Love this quote. Do you?
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Topic: Love this quote. Do you? (Read 1651 times)
Biodom
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Re: Love this quote. Do you?
August 09, 2014, 10:58:25 PM
#21
Quote from: cbeast on August 09, 2014, 09:20:37 PM
If Bitcoin doesn't go "to da moon" then it has no utility and the speculators will dump it down to zero. So no, the quote is meaningless to me.
this ^^^^^
Biodom
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Re: Love this quote. Do you?
August 09, 2014, 11:00:43 PM
#22
Quote from: AdamSmith on August 09, 2014, 10:36:52 PM
Miners need to sell at above their cost to justify their operation.
No, some (maybe most) small miners don't have to sell. I didn't sell (for fiat) a single btc that I mined.
Brewins
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Re: Love this quote. Do you?
August 09, 2014, 11:09:53 PM
#23
Quote from: Biodom on August 09, 2014, 11:00:43 PM
Quote from: AdamSmith on August 09, 2014, 10:36:52 PM
Miners need to sell at above their cost to justify their operation.
No, some (maybe most) small miners don't have to sell. I didn't sell (for fiat) a single btc that I mined.
I guess most of bitcoin is not mined by small miners anymore, and I think the big miners look for profit, that can be only achieved if they sell their coins.
aminorex
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Sine secretum non libertas
Re: Love this quote. Do you?
August 09, 2014, 11:17:12 PM
#24
Quote from: Brewins on August 09, 2014, 11:09:53 PM
Quote from: Biodom on August 09, 2014, 11:00:43 PM
Quote from: AdamSmith on August 09, 2014, 10:36:52 PM
Miners need to sell at above their cost to justify their operation.
No, some (maybe most) small miners don't have to sell. I didn't sell (for fiat) a single btc that I mined.
I guess most of bitcoin is not mined by small miners anymore, and I think the big miners look for profit, that can be only achieved if they sell their coins.
They are already sold on contract. When difficulty rises to the point where they are unprofitable the contracted deliveries will cease,and the buyers will be forced onto the exchanges.
Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
kingama
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Re: Love this quote. Do you?
August 10, 2014, 07:09:30 AM
#25
One does not simply flush out the "To the moon" crowd. One does however keep educating the uninitiated and building the infrastructure.
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