$100K Bitcoin Prediction Using Math. - page 2.

Peteroman

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Quote from: GanjaFarmer23 on August 17, 2017, 03:00:45 PM

https://ip.bitcointalk.org/?u=http%3A%2F%2Fdump.bitcheese.net%2Fimages%2Faxidido%2Fbitcoin-self-cost-logscale-edited.png&t=579&c=dHbFEFVa0F5G8Q

From https://bitcointalk.org/index.php?topic=550349.40

Difficulty is clearly lagging price. You really only need logic to tell you that.

In the beginning of Bitcoin, did difficulty rise first or did price? The answer is difficulty.

GanjaFarmer23

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https://ip.bitcointalk.org/?u=http%3A%2F%2Fdump.bitcheese.net%2Fimages%2Faxidido%2Fbitcoin-self-cost-logscale-edited.png&t=579&c=dHbFEFVa0F5G8Q

From https://bitcointalk.org/index.php?topic=550349.40

Difficulty is clearly lagging price. You really only need logic to tell you that.

Peteroman

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Quote from: BillyBobZorton on August 17, 2017, 01:18:47 PM

Good point. Hashrate must follow the price.

Bitcoin launched at $0.

According to that logic, the difficulty would never increase, because for the difficulty to rise: Bitcoin would first have to be worth something!

BillyBobZorton

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Quote from: Denker on August 17, 2017, 04:12:56 AM

He is always saying price has to follow hashrate/difficulty. But that is completely wrong.
Hasrate follows price!!
If price goes down significantly over longer period of time, miners will shut down some of their mining hardware, therefore hashrate decreases and difficulty goes down.
If price later goes up again, miners will switch on these mining hardware again cause it's getting more profitable again, therefore hasrate increases and difficulty goes up. This is Bitcoin mining 101!

Good point. Hashrate must follow the price. This is why the miners don't decide the fork, the market ultimately decides the fork. The miners would need to have 100% hashrate while the other chain has 0% hashrate so the market would be frozen, but that never happens, on every split there's always some hashrate on the other end to set a market.

This is why segwit2x will fall again, just like BCash.

Peteroman

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Quote from: Denker on August 17, 2017, 04:12:56 AM

He is always saying price has to follow hashrate/difficulty...

Yes, in other words: miners decide the price.

Quote from: LavaJack on August 16, 2017, 11:46:34 PM

This kid is pretty intelligent..

thank you to the positivity

Quote from: matuson on August 17, 2017, 04:39:46 AM

Not everything in our life follows mathematical formulas..

Not everything, yes; minor fluctuations in short term Bitcoin market price being a prime example.

Quote from: snowdropfore on August 17, 2017, 02:54:11 AM

hope you are right ,i can not wait ,when $100k ,i will be rich

I am right.

Quote from: LaFerrari on August 17, 2017, 01:06:46 AM

Sharing this video with a few people who has no idea how the difficulty and rewards to miners work

Thank you, I hope they enjoy it.

Quote from: Wind_FURY on August 17, 2017, 12:51:47 AM

I would assume the same concept applies to BitcoinCash

https://bitinfocharts.com/comparison/bitcoin%20cash-hashrate.html

Probably.

matuson

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Not everything in our life follows mathematical formulas. Mathematics is based on permanent values. Everything in life depends on the case or the situation. Most of the supporters of bitcoin are market conditions and the appearance of any other currency that is more promising betray bitcoin and he will die.

Denker

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He is always saying price has to follow hashrate/difficulty. But that is completely wrong.
Hasrate follows price!!
If price goes down significantly over longer period of time, miners will shut down some of their mining hardware, therefore hashrate decreases and difficulty goes down.
If price later goes up again, miners will switch on these mining hardware again cause it's getting more profitable again, therefore hasrate increases and difficulty goes up. This is Bitcoin mining 101!

snowdropfore

hero member

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hope you are right ,i can not wait ,when $100k ,i will be rich

LaFerrari

newbie

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Sharing this video with a few people who has no idea how the difficulty and rewards to miners work

Wind_FURY

legendary

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Quote from: Peteroman on August 16, 2017, 06:13:03 PM

https://youtu.be/c_PBwQpCoJU

Thanks for posting. I would assume the same concept applies to BitcoinCash also. So maybe the best way to determine if BCC's price will increase is also to wait for an increase in the hash rate.

https://bitinfocharts.com/comparison/bitcoin%20cash-hashrate.html

LavaJack

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This kid is pretty intelligent. Finally someone is denouncing the general conception of market movements based solely on price.

Peteroman

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https://youtu.be/c_PBwQpCoJU

Topic: $100K Bitcoin Prediction Using Math. - page 2. (Read 1536 times)