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Power companies can't regulate the price of Bitcoin because they don't control the price of electricity, which is determined by the government and/or the market
by javert 16y ago
Power companies can't regulate the price of Bitcoin because they don't control the price of electricity, which is determined by the government and/or the market.
Nobody ever regulates or controls the price of anything, except if they're the only supplier or the government.
- eru 16y agoYou forgot the "only buyer" case.
- javert 16y agoWell, if there's only one buyer, then it's a negotiation between the seller and the buyer. The seller has to answer the question, "Where is the cut-off point where it's no longer in the buyer's economic interest to buy from me," and charge right below that. Of course, in such a situation, new sellers will typically emerge.
- eru 16y agoYou forgot the "only buyer" case.