...
You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners...
You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners...
I know that KNC, one of the largest companies out there, is
<== click 
A fraction of one of KNC's megafarms.
if they can pump out so much bitcoins, isnt this a monopoly game in mining.. and its 1 sided to people who have those kind of institutional resources.
That's exactly what it is and the main point of this thread. Somehow, that logic seems to elude a plethora of bitsheep and their perpetual bleating of trying to turn any events surrounding BTC into great news.
- mtgox hacked, millions of $ lost: great news
- centralization of mining: great news
- BTC price crash: more cheap coins
- rampant scamming in BTC: it's the victim's fault
- government regulation: to da moon, best news ever
- illicit marketplaces: drug dealers are like robin hoods of crypto
Now I'm not saying that every news regarding btc is bad. It's just that some people here try to twist everything to look favourable for btc when it's obvious that isn't the case.
I would argue that KnC would want to get out of the retail business because of the risks associated with selling via retail. People can claim they received defective miners and request a refund, and can claim that that they did not receive their machine, or could claim that the shipping times were excessive. The psedo anon nature of bitcoin would make it very difficult prove these claims either way and the number of bitcoin related scams are high enough that this probably happens often to them. This will result in a lot of regulatory risk