Re: Gold collapsing. Bitcoin UP.

that's ok. there are hundreds if not thousands of businesses that could eventually participate.

fine, but if the proverbial "developing country" person is shopping for a water heater, she is just shopping for a water heater. not for the best combo heater/miner that heats water just right and contributes to the decentralization of the bitcoin network.

but yes, just speculating anyway. special thanks to smooth, your recent posts have been very stimulating.

true, this won't be for everyone.

but i think these companies could be building their own virtuous cycles on top of Bitcoin which could cause the next bull run in price. if so, how would that affect the developing country person's decision making? pay full price for an ordinary water heater, or almost free for one with a Bitcoin miner built in?

Having though through the business opportunity, you would give free installation, and subsidize their electricity, if you really wanted to disrupt and make bitcoin boom, you would pick places where there is big government subsidizing of electricity. (Thinking Argentina or Venezuela,) and in effect you would export the subsidized electricity and sell some bitcoin into that market to pay for the electricity, it's a win win or all. :-)

you know what i'll do?

buy a few extra batteries, keep them rotating thru charges free at work, while keeping the phone constantly mining at full capacity.

I'll raise you, and out bid your phone and get into the home business of making yogurt or drying paint or making candles with the extra heat.

we joke but you know what? this is one of the most important things that caught my eye back in Jan 2011 and why i got into Bitcoin back then: the sheer, raw, unadulterated ingenuity of miners. those videos of guys with equipment scattered all over their garages or basements, cords everywhere, fans blowing loud as hell, nuts, bolts, screwdrivers lying in wait. these guys will do anything to make money. that's what convinced me of what a true grassroots movement this is. no gvt is going to have the willpower or manpower to go and kick in all these guys doors. it just can't be done. and yes, while mining has become more industrialized and more professional, these same guys are still the ones pointing their custom asics at the pools. they are still independent.