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91 sats \ 2 replies \ @benwehrman 13h \ on: I’m Kent Halliburton, CEO and Co-Founder of Sazmining - AMA! AMA
From your experience, what is something most bitcoiners have wrong about bitcoin/mining/energy?
One of my favorite questions. Answer: ROI.
Why?
Bitcoin mining is a novel, 0 to 1 innovation -- the first time in human history we have a decentralized money printer.
It's a simple idea but something most gloss over but: Bitcoin mining is the only way to generate bitcoin
ROI is an evaluation of dollars in on dollars out. Why does it make sense to consider the ROI on Bitcoin mining if it's the only way to generate Bitcoin? It doesn't.
What does make sense, as a bitcoiner, is to evaluate if the sats mined are cheaper than if you purchased them on an exchange, which is a price comparison.
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From the crow’s nest, what blind spot do most sailors of the Bitcoin sea still carry? Rigs? From the system's high-level architecture, what short circuit do most navigators of the Bitcoin network still overlook? Gate configurations, hashing fanouts, or the latent overhead of the signal propagation that drives them? Mining winds vs the true cost of the current that moves them …
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