12-19 13:04 - 'If someone mines a bitcoin for $3000 of coal in China and sells it 4000, I buy it at 4000 and sell it at 5000, to a hodler. A scam group arrives and dump bitcoin they got at 2000 of scam infra cost for 2500 OTC and create...' by /u/rlsethekraken removed from /r/Bitcoin within 42-52min
''' If someone mines a bitcoin for $3000 of coal in China and sells it 4000, I buy it at 4000 and sell it at 5000, to a hodler. A scam group arrives and dump bitcoin they got at 2000 of scam infra cost for 2500 OTC and create a sell pressure, I buy between 2700 and 3999 along with others once it's laundered to exchanges, and the price re-stabilizes progressively after the dump at 5000. How much did I make with nobody losing any money trading, hodlers hodling, scammers dumping and miners burning their coal ? Sure the scammed lost something, but that's bitcoin, we're not the US government and their stupid justice. Response: I have a 5000$ bitcoin and some cash, for the cost of reading about OTC scams at the same time as others. A few dumps happen every year, since the exchanges and crypto schemes are hard to regulate and the hacks are heavily publicized. Your mistake is you think like a classic economist, but the real economy is far from a perfect market, there are flaws in every implementation, and if there's no police, it's easier to exploit. Saying it's a zero sum game just says someone loses, not that I must lose if my interest is only to profit in fiat, while others want to join a scam cult because they feel lonely or want to hodl because they believe in fairies. ''' Context Link Go1dfish undelete link unreddit undelete link Author: rlsethekraken
Bitcoin halving will bring in mass industrial mining of bitcoin. Think solar, nuclear, hydro, coal. May 2020 is the time. Mine like hell before then. After that profits will be harder for the little guys with ant miners. #btc #bitcoin truthraider.com /r/Bitcoin
Claim your Bitcoin daily with Coal Mine (BTC Mining Game) « on: November 27, 2015, 03:50:54 PM » Here, you can earn coal every 8 hours and take note this is upgradable, you can add more mining land to increase the production of coal. I mine with solar panels. I bought the solar panels for mining and I still get a little extra solar power. My hash is being calculated as though I'm burning coal. I think your single Bitcoin transfer having carbon footprint of 135 minute flight is completely bogus. It's probably adding in electricity cost of all the internet providers... Bitcoin mining began as a well paid hobby for early adopters who had the chance to earn 50 BTC every 10 minutes, mining from their bedrooms. Successfully mining just one Bitcoin block, and holding onto it since 2010 would mean you have $450,000 worth of bitcoin in your wallet in 2020. Step 1 - Get The Best Bitcoin Mining Hardware. Purchasing Bitcoins - In some cases, you may need to purchase mining hardware with bitcoins. Today, you can purchase most hardware on Amazon.You also may want to check the bitcoin charts. How To Start Bitcoin Mining. To begin mining bitcoins, you'll need to acquire bitcoin mining hardware.In the early days of bitcoin, it was possible to mine with It isn’t Bitcoin’s fault that you can mine much as you can afford. That is how an energy market works. Given the potential returns on investment, you could argue that mining is among the least
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