Quote from: brg444 on October 27, 2014, 01:20:59 AM

Quote from: DaRude on October 27, 2014, 01:12:56 AM

Again the fact that this one time event was so against the norm that it made the news should hint on how the normal course of business goes. Would BitFury selling their inventory to fund new farm made the news??? Think that be considered the normal course of business

That was no event. This quote made the news because it was a comment made after the announcement of yet another round of VC funding.

Here's another one from Josh Garza from GAWMiners at Hashers United conference :

Quote

Garza voiced the least concern regarding the price, saying that ultimately, the value of bitcoin is underpinned not so much by the consumers and merchants who use and accept digital currency but by the miners who facilitate the whole network.

Miners believe in the currency the most, he said.

More from this conference :

Quote

Terpin polled the crowd by asking how many sell a certain percentage of their bitcoins for fiat currencies like the dollar. One only miner raised their hand when Terpin asked if they sold 100% of their bitcoin for dollars, and about one-third of the crowd indicated that they dont sell any of their generated bitcoins.

Again, I'm not saying all of the miners keep 100% of their coins but it is naive to believe the majority of them dump their Bitcoins for fiat

Bottom line is money has to come from somewhere to cover costs and generate fiat profit. And your argument that they'd rather indefinitely raise capital from VCs to cover their costs rather than sell their own inventory is conceptually flawed. Simple as that.