Post
Topic
Board Bitcoin Discussion
Re: Interesting Statistic: $79,200 of new money going into bitcoin every day - more
by
BTC_Junkie
on 16/08/2011, 19:14:24 UTC
That "someone else" also has to invest the resources, time, money and effort in the mining process. You can't get something for nothing. If you stop mining it is because you don't value the expected return on investment. Again, when you mine and hold you are buying the bitcoin because you value it more than the prevailing exchange rate. If you didn't think the current or projected exchange rate would be profitable then you would simply stop mining.

There's a fundamental difference between holding something, buying and selling that I feel is being lost here.