Hacker News new | ask | show | jobs
by retrogradeorbit 2747 days ago
No. Bitmain is selling the pickaxes. Coinbase is the tent where the gold miners take their nuggets to sell.
2 comments

"No."?

Like it or not, it's a phrase that dates back to Mark Twain that has far more baggage than some strict analogy made up on the spot. For instance Chris Dixon here[1] suggests that Heroku and Akamai sell pickaxes, not dynamite as a service or scalable ore transport systems.

All I'm doing is defending the GP's use of the phrase, which was absolutely valid. Perhaps you'd have used a different analogy, but it doesn't invalidate his. No quantity of curt denials you care to throw my direction will change this.

[1] http://cdixon.org/2011/02/05/selling-pickaxes-during-a-gold-...

My lord, it’s an expression, it’s not literal. Pickaxes in this metaphor are any and all tools in between an individual and their target. You would be totally right to say banks are selling pickaxes in the current financial system.