Post
Topic
Board Bitcoin Discussion
Re: Isn't Mining Economically Retarded?
by
IacceptBTC
on 07/12/2014, 04:05:22 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.
I don't think the OP is talking about how "green" bitcoin mining is, I think he is referring to how much economical sense it is to buy a miner.