10,000 Bitcoin Mining ASIC Chips Arrive in Switzerland – 3 TH/s

I&#x27;m fairly new to the Bitcoin world, but it seems to me that ultimately (in 10 years or so) one of two things will happen:<p>1) Bitcoin will gain large-scale adoption. As a result, the value of Bitcoins will greatly increase from what it is today.<p>2) Bitcoin will fail due to government regulations, better alternatives, or other unforeseen reasons. As a result, Bitcoins will become effectively worthless.<p>Am I oversimplifying so far? If I&#x27;m not, then it seems like investing substantially in Bitcoins (purchasing coins) now will either make me very rich in 10 years, or I&#x27;ll lose my initial investment.<p>By the same logic, if I earn coins by mining now and hold them, I will either be rich in 10 years, or I&#x27;ll lose my mining investments.<p>I&#x27;m not interested in diving into mining to earn a quick 10-20k while the market fluctuates, so as a long term strategy it sounds like investing is the more sensible and less time consuming option. Thoughts?

Such a waste of electronic computing power.<p>EDIT: what I meant by a waste of electronic computing power is that it does nothing for the world beyond pumping out more bitcoins. I guess it&#x27;s more of my opinion on bitcoins in general than this particular artile. All the computational energy is not used to search for a cure for cancer, or aliens, or crack a code, or used to compute a deep neural net. I guess I would compare it to high-frequency trading---it makes people (a lot) of money, but doesn&#x27;t deliver any net gain for society.

so, just like in the gold rush of 1849, those getting rich are those selling equipment to the miners.

Am I missing jargon or are they saying terahertz per second?

So... I agree that Bitcoin has some advantages, but it&#x27;s disadvantages are quite high as well.<p>It seems to me that all the money going into Bitcoin mining equipment, and all the power being used to run it is essentially an indirect tax on Bitcoin usage... I wonder what the total value of Bitcoin transactions in USD compared to the cost of electricity to keep the block chain up is.<p>The true value that Bitcoin mining provides must be some low percentage of the total Bitcoin transaction volume... or am I missing something?

What happens when all 21 million bitcoins are mined? How will transactions be archived if no one is putting in the effort to mine bitcoins?

This basically will signal an end to the typical BTC pools. At .1 BTC (~$10) per chip, it is now possible to beat a $400 AMD 7970 with just $20 worth of chips.

What is this in current $&#x2F;hr?

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