{"type":"rich","version":"1.0","author_name":"npub1swfeusu3ua9trup00qcnrgc2yndksyvgku4epk5tec7u4fmrez6qxpul5t","author_url":"https://nostr.ae/npub1swfeusu3ua9trup00qcnrgc2yndksyvgku4epk5tec7u4fmrez6qxpul5t","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2014-10-25\n📝 Original message:\u003e The hashpower market is maturing in the direction of\n\u003e financial instruments, where the owner of the hashpower is not\n\u003e necessarily the one receiving income.  These are becoming tradeable\n\ninstruments,\n\n\nMeni Rosenfeld issued tradeable mining bonds back in 2012:\n\nhttps://bitcointalk.org/index.php?topic=65569.0\n\nSo this is hardly new stuff. But it definitely won't help.\nThe contract specifies how many bitcoins bondholder would get depending on\ndifficulty and other factors.\nBut, usually, bondholder doesn't care (and cannot check) where these\nbitcoins come from.\n\nThus the owner of the mining equipment can temporarily turn off that\nequipment off, and instead buy them on the market, as he needs to spend\nless money than he would spend on electricity. Then he can pocket the\ndifference.\n\n\n\u003e Simplistic models cannot predict what hashpower does in the face of\n\u003e business-to-business medium- and long-term contracts.\n\u003e\n\nAh, yes, let's forget game theory, business people know it better!\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20141025/4ce59ce0/attachment.html\u003e"}