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> especially when considering op said "they may lack the fiat" to pay for electricity or coins (assumption). That's not the assumption. It is the conclusion. T
by hencq 12y ago
> especially when considering op said "they may lack the fiat" to pay for electricity or coins (assumption).
That's not the assumption. It is the conclusion. The wrong conclusion as gweinberg pointed out. If I can mine 1 bitcoin for $300 worth of electricity or buy one for $200, I should just buy instead of mine. The question of how many dollars I have is irrelevant for that.
- jackgavigan 12y ago> If I can mine 1 bitcoin for $300 worth of electricity or buy one for $200, I should just buy instead of mine. The question of how many dollars I have is irrelevant for that. That's a fair point. I guess the only real difference between mining and buying is that electricity is usually paid for retrospectively, whereas buying requires you to have the money up front.