News for hackers. Stuff that matters.

A comment on Many Bitcoin Miners Are at Risk of Turning Unprofitable. Parent comment

Re:Many Bitcoin Miners Are at Risk of Turning Unprofitable by hn0 on Wednesday April 18, 2018 @12:17PM (#16868571)
So if I take a truckload of 100$ bills, a bottle of gin and a can of gasoline, drive into the dessert, out of sight of the authorities, and burn the entire lot, then the next night all retailers will have a vision which tells them to lower their average prices by 0.573%?
[ Parent | on HN ]
Re:Many Bitcoin Miners Are at Risk of Turning Unprofitable by marvin on Thursday April 19, 2018 @06:50AM (#16874775)
It's a hypothetical point; a small reduction in money supply will affect prices far less than the uncertainty or random fluctuation in the measurement of prices.
[ Parent | on HN ]
Re:Many Bitcoin Miners Are at Risk of Turning Unprofitable by BoiledCabbage on Wednesday April 18, 2018 @01:33PM (#16869219)
Is this comment sarcastic? I can't tell.

The money supply affects prices. It's basic econ.

[ Parent | on HN ]
Re:Many Bitcoin Miners Are at Risk of Turning Unprofitable by vageli on Wednesday April 18, 2018 @02:34PM (#16869762)
How fast does a change made by a private actor to the money supply propagate? Surely not instantaneously?
[ Parent | on HN ]
Re:Many Bitcoin Miners Are at Risk of Turning Unprofitable by marcosdumay on Wednesday April 18, 2018 @03:13PM (#16870129)
By the time you fill your truck with those $100 bills, the prices will have already adjusted. If you decide to not burn them, but spend them quickly, the prices will adjust again.
[ Parent | on HN ]