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Gold mining stocks were the proxy for investing in gold pre-ETF. They are not a pure investment in gold and as such incur all the risks of any other stock, which are management, employees and legal actions. It seems Bitcoin miners have some of the similar risks but to a lesser extent. They don't seem to have wage concern for their employees and possibility of strikes by unions. The management does not seem to have as many moving parts legal or political to deal with and so this risk seems to be lower as well. This proxy may actually act in the short term as a better proxy for BTC than gold miners are for gold. But BTC is limited, and the mining industry will come to a screeching halt around 2140 as the last coin is mined. Ok, I just looked and had made an error. This will last much longer than I anticipated which means it will be a good investment for at least one lifetime. There need to find new business is far away and they can begin now diversifying and growing into other ventures. But new avenues of course open the business to new risks.
Enjoy that move back to that bastion of freedom known as NYC... 🤦♂️
I’ve always been bullish miners. Too bad I loaded up on a ton of them right before the crash 😕
why aren't merchants accepting BC in exchange for their goods and services?
Good question, does it have to do with fees?
Gold mining stocks were the proxy for investing in gold pre-ETF. They are not a pure investment in gold and as such incur all the risks of any other stock, which are management, employees and legal actions. It seems Bitcoin miners have some of the similar risks but to a lesser extent. They don't seem to have wage concern for their employees and possibility of strikes by unions. The management does not seem to have as many moving parts legal or political to deal with and so this risk seems to be lower as well. This proxy may actually act in the short term as a better proxy for BTC than gold miners are for gold. But BTC is limited, and the mining industry will come to a screeching halt around 2140 as the last coin is mined. Ok, I just looked and had made an error. This will last much longer than I anticipated which means it will be a good investment for at least one lifetime. There need to find new business is far away and they can begin now diversifying and growing into other ventures. But new avenues of course open the business to new risks.
Yep. 🆎🇩🇰🤙❤️🤑😂