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Here's my theory (from right field) on where the free lunch is coming from: Bitspend is a hosting company that has invested a lot of extra rack space into mini
by phamilton 15y ago
Here's my theory (from right field) on where the free lunch is coming from:
Bitspend is a hosting company that has invested a lot of extra rack space into mining equipment. They see the giant bubble brewing and have realized that bitcoin needs some legs to stand on. If bitcoin survives, Bitspend's mining operation makes a huge profit. If it crashes, they lose a lot. So giving people an easy way to use bitcoin as an actual currency rather than a speculative investment has a huge long term benefit for them.
Whether my theory is true or not, I think many other heavy mining operations would benefit through similar services. If there are any other big miners out there, I hope you see the value you can add to your investment by doing things like bitspend.
- Astrohacker 15y agoIt's not a free lunch. They can sell the bitcoins on the market if they need USD.
- cdr 15y agoOnly so long as the market doesn't crash.
- jamie_ca 15y agoDon't even need that. BTC has been growing in "value" significantly over the past month or so. If they just wait a month between receiving bitcoins for payment and redeeming them for cash or whatever, that'll likely be a reasonable return on investment. Assuming, of course, that trends continue.