If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.
That's what I meant by a new equilibrium
Topic: BTC price falls and Difficulty increases - page 2. (Read 4415 times)
That's what I meant by a new equilibrium
If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.
It's going to be very hard to keep mining devices online as they won't even be able to pay for themselves in energy costs.
Only the ones who are true to the intangible value of bitcoin will stay the day.
Only the ones who are true to the intangible value of bitcoin will stay the day.
Its a very complicated equation. Energy costs, network hash rate, and btc/$ rate.
But sure, if the bitcoin price crashes, all miners are in deep doo-doo until a new equilibrium is reached
This is true if the price keeps falling. BTC could very well rebound to well beyond what it's valued today. As China pulls out, the US (and its Wall Street) and a number of other countries take its place (and China is only in movement towards further regulation now). Was it truly a bubble or will optimism prevail. Only time will tell. 
I hope ASIC device makers drop the prices as well.
It's going to be very hard to keep mining devices online as they won't even be able to pay for themselves in energy costs.
Only the ones who are true to the intangible value of bitcoin will stay the day.
Only the ones who are true to the intangible value of bitcoin will stay the day.
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