Bitmain, the largest mining hardware company, made around $4B last year

Re:Bitmain, the largest mining hardware company, made around... by goldenkey on Friday February 23, 2018 @10:49PM (#16451538)

"need to read a couple of books." No. Just no. You are wrong about energy. Power plants do not just burn a steady state amount of fuel. You are also wrong about capital if that is the "energy" you misnamed - capital is created all the time, not debt but actual prosperity through innovation. Please refrain from your "read a book to be like me" humdrum. I am a mathematician - I know enough economics to be quizzically annoyed by the falsities spoken

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Re:Bitmain, the largest mining hardware company, made around... by cocktailpeanuts on Friday February 23, 2018 @11:59PM (#16451777)

suit yourself :)

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Re:Bitmain, the largest mining hardware company, made around... by goldenkey on Saturday February 24, 2018 @01:34AM (#16452080)

The human races net work output might be fixed - but through the spawned creations and mechanics - the work one does and thus the spawn they create, can be vastly consequential. Energy consumption is not fixed. Human work is fixed but when augmented by technokogy it is wildly divergent. There is a difference between using millions of watt hours for mining versus using it to create things that have a far longer shelf life..things like crops or PCs which will continue to provide further value. Bitcoin mining is short sighted.

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