Post
Topic
Board Bitcoin Discussion
Re: Isn't Mining Economically Retarded?
by
franky1
on 07/12/2014, 03:57:05 UTC
more money is wasted mining coal
more money is wasted mining gas
more money is wasted mining oil

lets take coal for instance.
the coal industry mines 2billion tonnes a year at between $40-$60 dollars a tonne.
thats a $80-$120 billion industry.. PER YEAR and once the coal has been burned thats the end of that coal, its gone.

the costs of mining bitcoin is not even 2% of the coal industry and once mined, bitcoins dont just burn into nothing. they circulate and can be swapped and traded as much as they like forever.