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by bo1024
2954 days ago
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I think what jhpriestly is saying is: As the market gets efficient, the price of renting mining capacity will approach the profits earned from transaction fees. So renting mining capacity will almost pay for itself, i.e. is almost free. But then you might as well rent a lot of it, like 51%, because it's allowing you to attack the chain almost for free. |
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Yes, but only if mining the coins via renting is cheaper than buying them outright.
If you're a miner, it makes sense to rent out your gear, because you get a guaranteed payment higher than you could make via mining.