They’ve been talking about miner support collapsing since bitcoin was 160 USD. It’s a non issue. The market will adjust.
But that’s my question - how will it adjust ?
Does less commercial mining mean less bitcoin or do they just get allocated to private miners (sorry, I know little how it operates).
So do you expect the price to increase or decrease if commercial mining becomes uneconomical ?
Mining is akin to winning the Euromilions lottery - albeit with much larger odds. You can win with just one turn or it make take you on average 2^128 tries to hit the magic sequence of leading zeros. Assuming it becomes unprofitable for large mining pools to operate due to lower rewards we will see an overall decrease in the network hashing power i.e. fewer miners in the network. This will result in the “target” i.e leading zeros value not going up as quickly as it has been in the past few years. However you will still have miners in the network who will try their luck at getting some free Bitcoins.
Ho hum, it appears even the potential of the ledger is a scam.
theregister.co.uk/2018/11/3 … cess_rate/
Bitcoin doing fantastic (compared to all the other dross). Courtesy of Paul Somerville:
Here is a list of Crypto “currencies” carnage as % below all-time high:
Bitcoin Gold: -98%
Bitcoin Cash: -98%
Dogecoin is probably out performing them all
The smart, ballsy people are piling into cryptos!
I know this song!
Meanwhile todays high profile Bitcoin story is - Dozens of bomb threats by ‘Bitcoin scammers’ hit several US states
Maybe. Maybe not. Hindsight is 20:20 .
I would imagine that they’re also selling their shares in electricity generating companies as demand for power from “miners” drops.
You always want to be on the leading and not the bleeding edge.
Happy birthday HODLers!
Highlights at 0:39 and 2:23.
At least it’s secure!
Will there be any bitcoins left at the rate they’re being destroyed? TI, you may have sold out too soon…
Cannabis stocks are the new Bitcoin, mania seems have taken over with 10% daily rises in the likes of CRON and APHA the norm at the moment.
I’m telling you right now, the moment cannabis is legalised here, I’m in.
A friend of mine manages a dispensary in the US.
Licence to print money.
Jack Dorsey throws his considerable weight behind Bitcoin as the currency of the internet.