Wednesday, 29 January 2020

Dear Peasants: Mining Bitcoin at a loss, IS OK. Here's why.

Mining is still a completely anonymous way to acquire bitcoin. That's it. That's all I got for ya.

Most users are going to buy on Coinbase or Cash App or an exchange. These transactions will be forever recorded with those entities. And your paying a premium on nearly all exchanges. In this sense, you're buying Bitcoin at a loss, because it's fiat value drops immediately after the transaction.

If you're a farm, then I get it. You need to turn a profit to survive. However, hobby miners can float their electric bills and sell whenever the fuck they want, or HODL their anonymous stash.

submitted by /u/RonTurkey
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