what the point of buying 300 bitcoins when 3600 bitcoins are dumped everyday by miners ?
also, considering a lower price, miners have to sell more bitcoin to pay their cost
you do all wrong : you invest in a bear market, you place all your money in one investment, you try to catch a bottom.
but of course, there are people in this thread that think bitcoin is a get-rich-quick-magically-with-no-effort thing.
also what you call shitty fiat doesnt lose 10% of its value in 1 week.
the only thing that looks like Venezuela dollar right now is Bitcoin, not american dollar.
Get real
I'm sick and tired of these dumb arguments about miners dumping coins every day.
Where is your solid evidence? Have you even mined any coin before?
This has to be the most regurgitated argument ever.
a) if mining was that profitable why on earth are you not doing it?
b) why does everyone always assume mining hardware is for free? You need to add the cost of the hardware which makes it less profitable than just calculating energy costs!
c) why would you "dump" coins? to pay for electricity? If my mining operation consumed 100% of my earnings in electricity why would I even bother unless I am speculating in which case I would NOT dump coins
d) miners can and do speculate. I am actually guessing a lot of miners are holding back all or at least a large portion of their earnings.
