Quote from: brg444 on September 03, 2015, 04:59:54 AM

Quote from: Cconvert2G36 on September 03, 2015, 04:50:06 AM

Quote from: brg444 on September 03, 2015, 04:24:54 AM

Consider that some of these mining firms have other revenue streams. You cite BitMain and it is an absolutely perfect example. Considering the amount of money and profit they make selling mining gear. Do you actually believe that they need to sell any % of the bitcoins they mine to cover expenses?

Selling mining gear is a welcome addition to mining yourself (unless it dilutes you too much via difficulty, an OCDM would likely frown on selling to the public), Bitmain's prices seem to track what the device might return before it becomes inefficient. It's almost like selling a bond to another bond investor.

Quote from: brg444 on September 03, 2015, 04:24:54 AM

Another example is BitFury which is getting fed by VC money at record rates and have also, in the past, had their fair share of surely spectacular revenues and profit selling their mining gears. Now we don't actually have to speculate about them since they have made it clear in interviews they are absolutely not considering selling any of the bitcoins they mine.

These together amount to nearly 25% of the network. Would you like to suggest they are the exception?

VC funded mining operations as the new 2012 guy with GPU's mining at a loss... I like it.

For everyone else, profit vs loss is a more tenuous balance, and as a whole, I think the industry sells more as a % vs the hobbyist days.

Did you not read what I wrote? I won't bother hunting down the source because you are apparently too obtuse to change your mind about it but a BitFury is not alone in publicly stating they are not selling their bitcoins.

Selling mining gear is by all account a ridiculously profitable business because if it weren't they wouldn't bother with it and just use the gear to mine themselves as you've stated. It is quite likely the profit they derive from it is well enought to cover a large portion of their expenses.

If you bothered to read, I agree with you about bitfury, bitmain, knc, 21. I was hoping you would see they aren't yet 100% of the mining industry. Drop the confrontation tone, it's tiresome.