China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

Re:China Bans Bitcoin Executives from Leaving Country, Miner... by lmm on Wednesday September 20, 2017 @05:26AM (#15291938)

The stats don't really matter, because the market is designed to equilibrate the price: it costs 7.5 million to mine 7.5 million's worth (in expectation, net present value and all that), and always will. If you're worried about reducing your variance you can join a pool rather than mining directly.

[ Parent | on HN ]

Re:China Bans Bitcoin Executives from Leaving Country, Miner... by Nursie on Wednesday September 20, 2017 @08:33AM (#15292986)

But over what time period?

[ Parent | on HN ]

Re:China Bans Bitcoin Executives from Leaving Country, Miner... by lmm on Thursday September 21, 2017 @11:05AM (#15304143)

At a guess we'd be talking 6 months - 2 years - my vague memory/impression is that's roughly the timescale on which mining hardware goes from new to worthless. If you're more vertically integrated in terms of buying datacenters/chip fabs/what-have-you then I'd imagine longer.

[ Parent | on HN ]

Re:China Bans Bitcoin Executives from Leaving Country, Miner... by corysama on Wednesday September 20, 2017 @11:37AM (#15294944)

There was an article posted a few weeks ago about a large Chinese mine that was doing $200K/day.

[ Parent | on HN ]

Re:China Bans Bitcoin Executives from Leaving Country, Miner... by Nursie on Wednesday September 20, 2017 @11:40AM (#15294971)

Sure, and that's a lot, I'm just wondering if there's anything approaching a investment->return timescale.

Not that it really matters! It's not like I have a few mil hanging around looking for something to do...

[ Parent | on HN ]