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> While ASICs represent the fixed cost of Bitcoin mining, the expense of electricity is the marginal cost; indeed, Bitcoin is, for all intents and purposes, the
by apozem 10y ago
> While ASICs represent the fixed cost of Bitcoin mining, the expense of electricity is the marginal cost; indeed, Bitcoin is, for all intents and purposes, the digital representation of electricity.
https://stratechery.com/2015/21-inc-and-the-future-of-bitcoin/ https://stratechery.com/2015/21-inc-and-the-future-of-bitcoi...
- stale2002 10y ago21 inc's ideas are a horrible scam. Why would you pay hundreds of dollars, to buy an inefficient miner that is 10% as efficient, when you could just buy hundreds of dollars of bitcoin.