Post
Topic
Board Hardware
Re: Old BFL buyers vs new asicminer prices
by
kjj
on 29/08/2013, 03:22:13 UTC
You clearly do not understand the motivations of the vast majority of miners, then.  This may be your way of thinking, but I assure you beyond any shadow of a doubt, most miners are in it to make a profit in USD (or their local currency) not to "increase their purchasing power within the money system itself."  Most miners couldn't give a shit about how much BTC it makes in the end, they just want to know how much USD (or local currency) it makes.

Once again, I challenge you:

Ask an average miner which they'd rather do:

Purchase a widget that costs 10 BTC and will generate 400 BTC, valued at $2 each or
Purchase a widget that costs 10 BTC and will generate 5 BTC, valued at $200 each

Invariably, the answer will be the second option, even though that person could have increased their BTC holdings by 40x!  Very few people want BTC for BTC sake, they want BTC for what value it provides in their local currency.  Again, you may be different, but you are in a very tiny, miniscule minority.

Woohoo!  Fallacy of the False Dilemma.

But, say we ignore that.  I can still assure you that not a single solitary human being capable of rational though would pick option 2.  Notice that option 2 converts 10 BTC into 5.  People looking to get rid of excess BTC can donate them to charity, or send them to 1BitcoinEaterAddressDontSendf59kuE.  They don't need you to provide a BTC removal service.

P.S.  I am "an average miner", and I have never intentionally purchased equipment that I expected would earn me less BTC than what I was spending on it.