> the cost to run the mining network is greater than the value created No evidence is offered about this at all. But even so mining should be a pretty low-marg

> the cost to run the mining network is greater than the value created No evidence is offered about this at all. But even so mining should be a pretty low-margin and relatively risky endeavor. You don't want mining to be profitable. The worst part of fiat is that rent-seekers are chasing after the money spigot and devising ways to profit off how fiat is "mined." It's the Cantillon effect.