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> * miners Agreed, though it obviously depends on the cost (price of ASICs and electricity), revenue (price of BTC), and competition (hash rate & difficulty),
by FabHK 5y ago
> * miners
Agreed, though it obviously depends on the cost (price of ASICs and electricity), revenue (price of BTC), and competition (hash rate & difficulty), as well as the timeframe to set up an operation. Interesting problem.
> * exchanges
Big ones, yes. That seems to be pretty much an issue where your fixed costs are high, but marginal costs very low, so you really really want volume. So, hard to break in, and as a smaller exchange, you might well go bankrupt.
And, the big exchanges charge enormous fees, from what I can see, much more than the good old "legacy tech" equity exchanges. LOL.
> * people selling stuff for bitcoin.
Hm, interesting. Yeah. Savoury guys.
I'd add though
* people that mined/bought very early, and now realise their gains.
- AndrewStephens 5y ago> people that mined/bought very early, and now realise their gains. These guys certainly exist but there are probably less of them than you think. So much bitcoin has been lost or stolen over the years that I think many of them are out of the game. On top of that, they have to be careful. The actual market for cash<->bitcoin is very thin so cashing out is a long slow process. That said, there probably are a number of people who support themselves every month by selling enough bitcoin from their huge stash.
- miracle2k 5y agoThey aren't really that thin What kind of amounts do you think a single individual can sell without "having to be careful". Like what are we talking about here? Hundreds of millions of dollars?