True. The gold isn’t manufactured. But its rate of discovery is a function of technology and demand. Bitcoin’s is pre-set. That constantly trips people up when they think of mining. Dhruv’s way of thinking about it is better. The network already has the bitcoin: they just haven’t sold them to the miners yet in exchange for hash.

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The term "mining" actually seemed to have actually smoothed funding for Bitcoin mining from traditional mining investors: it's a commodity where you spend on infrastructure up-front with unknown returns which depend on market factors outside your control.