I see this as a good thing. Catching up with modern chip manufacturing for a p2p network is nothing to be upset about.
Expect to be flat or down for awhile however. Still have that why should joe blow use btc whether he knows it or not dilemma.
Big money gets in quietly before joe gets in.
Topic: 2014: The year of the mining bubble (Read 3399 times)
Difficulty is following bitcoin's price. Lets see what happen if bitcoin price suddenly rise to $1000....
I think $1000 is not going to happen anytime soon.
We have to break beyond $400 first.
When BTC gets used more, price will rise.
The problem is, those giant company don't keep btc and they sell it almost immediately. So they will most likely drive the price down....
Yes. But When B2B BTC usage appears, there will be some BTC retained in the corporate account, that will reduce the dumping into exchanges.
That is essential to develop the bitcoin infrastructure further, bizniz can really benefit from bitcoin, yet due to al negative attention, it seems risky, while in fact it's one of the most secure networks ever!
Difficulty is following bitcoin's price. Lets see what happen if bitcoin price suddenly rise to $1000....
I think $1000 is not going to happen anytime soon.
We have to break beyond $400 first.
When BTC gets used more, price will rise.
The problem is, those giant company don't keep btc and they sell it almost immediately. So they will most likely drive the price down....
Yes. But When B2B BTC usage appears, there will be some BTC retained in the corporate account, that will reduce the dumping into exchanges.
Difficulty is following bitcoin's price. Lets see what happen if bitcoin price suddenly rise to $1000....
I think $1000 is not going to happen anytime soon.
We have to break beyond $400 first.
When BTC gets used more, price will rise.
The problem is, those giant company don't keep btc and they sell it almost immediately. So they will most likely drive the price down....
Difficulty is following bitcoin's price. Lets see what happen if bitcoin price suddenly rise to $1000....
I think $1000 is not going to happen anytime soon.
We have to break beyond $400 first.
When BTC gets used more, price will rise.
Difficulty is following bitcoin's price. Lets see what happen if bitcoin price suddenly rise to $1000....
I think $1000 is not going to happen anytime soon.
We have to break beyond $400 first.
Difficulty is following bitcoin's price. Lets see what happen if bitcoin price suddenly rise to $1000....
2014- The first year bitcoin has seen some stabilty.
2014- The year of the Trezor, everybody on here is talking about them.
2014- The year bit the bitcoin ATM
Heaps of thing have happened this year for bitcoin!
2014- The year of the Trezor, everybody on here is talking about them.
2014- The year bit the bitcoin ATM
Heaps of thing have happened this year for bitcoin!
Don't forget PAYPAL
imho 2014 is the end of a dream. The dream of constant rice of the price of btc.
If the reason you are in BTC was and is only to make "money" you should not be in BTC.
Thank you, my thought exactly, mining was never profitable, only due to the extreme price rise it was profitable...
EXACTLY!
2014- The first year bitcoin has seen some stabilty.
2014- The year of the Trezor, everybody on here is talking about them.
2014- The year bit the bitcoin ATM
Heaps of thing have happened this year for bitcoin!
2014- The year of the Trezor, everybody on here is talking about them.
2014- The year bit the bitcoin ATM
Heaps of thing have happened this year for bitcoin!
2014: The end of the myth that bitcoin can only go up in a one year time period.
imho 2014 is the end of a dream. The dream of constant rice of the price of btc.
If the reason you are in BTC was and is only to make "money" you should not be in BTC.
Thank you, my thought exactly, mining was never profitable, only due to the extreme price rise it was profitable...
imho 2014 is the end of a dream. The dream of constant rice of the price of btc.
If the reason you are in BTC was and is only to make "money" you should not be in BTC.
Stop trying to destroy this currency even more with retarded faster miners... shame on you guys! 
"Faster" miners doesn't affect the emission schedule
bitcoin slow difficultyretarget makes it possible to mine more with faster miners.
If difficulty increases. If difficulty falls, the emission schedule will run slightly late.
There's a small effect on emission rate as a function of the derivative of difficulty.
imho 2014 is the end of a dream. The dream of constant rice of the price of btc.
The same thing happened in 2011-12. BTC price will keep on rising in the future, but with volatility.
imho 2014 is the end of a dream. The dream of constant rice of the price of btc.
Stop trying to destroy this currency even more with retarded faster miners... shame on you guys!
"Faster" miners doesn't affect the emission schedule
The flaw is that the network as it is now is more then strong enough for the protocoll, mining needs to be dialed down if you ask me...
Guys 2014 is the year of "The Great Shakeout"....gah
ASICs will get more efficient, but in term of hashing power they have already approached the state of the art in computing hardware. Unless the state of the art is improved (how, exactly? optical circuitry? quantum dreams?), then there will never be such dramatic rises in the network hashing power again.
The general purpose hardware gets more efficient year after year, why do you expect the mining asic hardware will not get more efficient , therefore increasing the hashing power of the network?
It get more efficient in term of power consumption/dissipation. Total hashing power will grow, only not at the awe-inspiring rates of the past. There will not be another radical 'tech switch' like it happened when the problem was first 'mass-parallelized' (GPU, FPGA) and then when it was first solved on special-purpose hardware (ASIC). Someone will not be able to multiply his hashing power tenfold by simply buying another generation of miners. The producers will make it looks like that is still the case, however. Best you can hope is buying basically the same hardware over and over, with fading power consumption.
ASICs will get more efficient, but in term of hashing power they have already approached the state of the art in computing hardware. Unless the state of the art is improved (how, exactly? optical circuitry? quantum dreams?), then there will never be such dramatic rises in the network hashing power again.
The general purpose hardware gets more efficient year after year, why do you expect the mining asic hardware will not get more efficient , therefore increasing the hashing power of the network?
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