It seems that most comments posts are either pro bit-coin or anti bit-coin, but both sides seems to make wrong arguments based on a flawed thinking of mining.

It seems that most comments posts are either pro bit-coin or anti bit-coin, but both sides seems to make wrong arguments based on a flawed thinking of mining. A fixed amount of bit coins are mined (on average) per unit time. Thus, how much work it takes to mine a coin depends solely on the number of miners. Econ 101 theory tells us that the aggregate costs of the miners will equal their aggregate rewards. So, the total cost of mining (hardware, electricity, people's time who work on it) will equal the reward. That's all that's happening with mining. No for either side to complicate it and make it seem like more is there.