do you mean that say buying the S19 today would cost 0.03BTC

and the expected ROI would be 2y (at today's prices)

then most of you hear is - "yeah but the bull run - BTC 5x"

the bull would then respectively shorten ROI but counted in BTC it would actually be much more than 2y (considering halving and increase in mining difficulty)

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there is no BULL or BEAR if measuring in SATS/THs - so -50% rewards and nethashrate at the time will determine SATS will be miner earning --- 99% world paying energy in cents NOT SATS ! nobody cannot ignore that factor hence comes fiat bull bear into play esp for HASHFARMs