Re:How Texas is becoming a Bitcoin mining hub
by ur-whale on Saturday February 12, 2022 @03:57PM
(#30316366)
> It takes about $14 billion per year to maintain the current price
I would put this in the "speculation" bucket.
First: as surprising as it may seem, not all miners sell their coins (it's cheaper to mine coin than to buy them, therefore someone wanting to invest 10M in BTC is better off buying mining equipment and paying for the power to run it).
Second: it's very likely that, the exact supply of Bitcoin there ever will be being a known quantity, the "cost" of as-of-yet-unmined coins is priced in.
I would put this in the "speculation" bucket.
First: as surprising as it may seem, not all miners sell their coins (it's cheaper to mine coin than to buy them, therefore someone wanting to invest 10M in BTC is better off buying mining equipment and paying for the power to run it).
Second: it's very likely that, the exact supply of Bitcoin there ever will be being a known quantity, the "cost" of as-of-yet-unmined coins is priced in.