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>Parent's point is that if BitFury did that, then nobody would trust Bitcoin anymore, thus crashing the price. If they make good money from it, why would BitFu
by mootothemax 11y ago
>Parent's point is that if BitFury did that, then nobody would trust Bitcoin anymore, thus crashing the price.
If they make good money from it, why would BitFury care about bitcoin's long-term outlook?
- celticninja 11y agothey make money by mining bitcoin, if the value drops then their return, even if they sell all BTC immediately, would be affected. They just spent $100m on a new mining facility so to trash bitcoin would be to write off that investment. They cannot make good money by screwing over bitcoin without screwing themselves over. Best case scenario is that at the end of the effective life of this DC BitFury decide to doublespend their coins to allow them to spend all bitcoins once, however by that time their relative % of the network will be less than 50%.
- mootothemax 11y ago>They cannot make good money by screwing over bitcoin without screwing themselves over. Why not? Surely this is more a lack of imagination on your part, rather than a hard fact?