/biz/ - Business & Finance

bought 2K of ethereum on retarded coinmama at 800 something and didn't confirm the purchase on my email says i have like 2 weeks before it returns on my wallet so why would I confirm if the price is down does anyone hre use coinmama to their advantage

Bitcoin miners (like other commodity miners) will earn only enough returns to compensate them for their cost of capital. Unlike with technology companies thta possess trade secrets or market power, bitcoin miners cannot earn large excess returns in the long run — ensuring bitcoin’s equilibrium price will be only modestly higher than the cost of mining. Any higher, as it is currently, and arbitrageurs will start mining because there are no barriers to entry and they can make riskless returns by mining bitcoin and selling it in the futures market.

The floor on the price of bitcoin is around $5,000 The prospect of earning a riskless return will attract other arbitrageurs and drive down profits until bitcoin’s price approaches its fundamental value — in this case, the cost of mining.

If the price falls below the cost of mining, the miners will not be able to earn their cost of capital, and it will not be in their economic interest to participate and provide the infrastructure for the bitcoin blockchain. Without the computing power provided by the miners, the system would eventually collapse, rendering bitcoin worthless.

it was good while it lasted anons

https://www.ccn.com/bernie-sanders-accepts-bitcoin/

TURN ON THE TV