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comment by rinx
rinx  ·  3267 days ago  ·  link  ·    ·  parent  ·  post: What Satoshi Did

If the only value in mining is made by bitcoin increasing, then you should never mine, since you could just buy bitcoins today then sell them later. I think most miners just hope one day the price will jump so high it will justify the electric use. Of course, by then, more efficient miners will have been created, so in general it seems like a pretty bad idea.





user-inactivated  ·  3267 days ago  ·  link  ·  

I'd be interested to know how many people mining aren't doing it primarily as a hobby.

Kajman  ·  3267 days ago  ·  link  ·  

Hobbyists don't usually drop 10k+ on little ASIC farms, that is left to misguided investors.

Source: pathetically bitter ex-dogecoin miner

user-inactivated  ·  3267 days ago  ·  link  ·  

I am sorry for your loss.

But now I have to ask, what made dogecoin look like a good investment?

Kajman  ·  3267 days ago  ·  link  ·  

Nothing at all, I was merely around for the community of it.