Quote from: Biomech on February 23, 2014, 03:43:03 AM

Quote from: DPoS on February 23, 2014, 03:14:10 AM

Quote from: Syke on February 23, 2014, 01:58:15 AM

Quote from: bitdominion on February 23, 2014, 01:10:46 AM

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

There's 2 ways to get bitcoins, buy them or mine them. I'm having a hard time seeing how getting 46 BTC rather than 70 BTC is offseting the risk. Why would you want to mine less than you can buy?

right but there are a lot more creative ways to buy and run miners than just buy bitcoins which is why you see the price always stay higher than what those that keep looking at it like you do feel a miner should cost

Yeah, and while those two categories are technically correct, there's hundreds of ways to purchase. One for every BTC/XXX trading pair, plus you can mine different things, cloud mining, coop mining, etcetera. Far too simplistic.

There is also the geek factor. Mining is interesting, so there is profit in that even if it's not as much MONETARY profit as just buying and holding.

One thing "buy and holders" seem to forget... It is NO guarantee of profit.

I guess you could hold for 10 years but in 2024 those 100 bitcoin you bought in 2014 are still only worth 100 BTC in 2024 unless you sell them. Sure, everyone would love for them to be worth $100k each in 10 years but what if they are worthless?

At least miners have fun generating NEW BTC. Holding stale, old BTC just doesn't seem like much fun to me.