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Michael Saylor expressed: Fair value accounting for Bitcoin will facilitate institutional adoption of the asset class and benefit the entire economy. If you mine BTC, but don’t sell it, isn’t that the same as buying it?
Community response: A great leader would cancel the Central Bank and tell all the citizens and corporations to stack as much Bitcoin. It would be the strongest nation on earth.
It’s similar to buying it at a major discount off market price. He means that there is no point mining it if you are going to HODL it. Might as well accumulate by buying BTC with fiat.
Same or even better. Contrary to the gold market Bitcoin miners are not willing to dump their coins and dump the price. We are all in same boat.
Miners need to sell bitcoins to pay the electricity bills to keep mining. Of Course the can hold a % of the earnings. But to say that is idiotic.
I mean if you mine it from a volcano is that the same as buying it on Coinbase pro. In a sense yes but also in a sense not even close BTC.
If that is a genuine question, it depends on how efficient you can be with your miners and overall cost. But if it wasn’t worth it, no one would be doing it and they would buy BTC instead.
I believe he meant “same” as in principle like they if they had put the mined coins on sale and then bought them. Not “same” bang for your buck.
Not at all. Yes, there’s the idea that buyers and sellers are the same based on the idea that there’s an equilibrium price for every individual. If the price falls below we should buy and above, we should sell. Assuming a frictionless environment, no price rigidity, but rationality.
Ten years ago, it was profitable to dig for bitcoin. But today it is probably best to buy at low prices below $ 60,000. Large scale miners are the most profitable business in the world right now.
Off course, only now you pay with energy (implicitly a derivative of fiat as you need to pay for that energy unless you generate it yourself) instead of dollars or any other currency. On average you’ll be buying at a discount. The discount should equal your risk and effort.
Not really, no. The profitability of your investment measured in Bitcoin changes wildly depending on the moment you decide to invest in mining. Buying Bitcoin will always give you the amount you bought, not more and not less.
