#434: Capital in the 21st Century with Allen Farrington
TFTC: A Bitcoin Podcast
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The Repercussions of Manipulation of Cost of Capital
The most sustainable miner is the one that can produce Bitcoin at the lowest cost and lock-in profits. But again, the repercussions of the manipulation of cost of capital are bad for everybody else. It's good when it's working in your favor, but as soon as it turns into your favor, you're shit out of luck. Capital structure is key. Malinvestment wrecks the economy. That's the whole podcast.
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