Holy cow, 10 pages of trolling, can't believe I investigated real sleep hours reading it.
Good shills are hard to employ these days. They are working for the altcoins. Someone should take this opportunity to open a Troll School using Bitcoin for tuition.
Indeed, a great idea. Offer group discounts to these folks.
Lols, the group discount was earned today. If there was a concerted effort to drop the price, one day they'll buy in.
This is the only post worth reading in the last 10 pages:
Although this is old hat for many here, I put together a little explanation that may help people see how mining difficulty affects the bitcoin price.
[img width=100 ]https://i.imgur.com/5VOUQlI.png[/img]
Think about how much money was invested, both by consumers and manufacturers, into pushing the difficulty up several orders of magnitude over the past year. That's all money that could have and arguably would have been invested into driving the BTC price up. A lot of the fresh fiat has been going into the mining industry instead of the price. This is of course self-limiting, and so with all that investment happening behind the scenes, when the curtain is pulled back (when buying mining equipment becomes unprofitable), without any outside reason for the investment to slow down, it should start funneling back into the price.
Oh and this one below I see things the same way:
I've said it ten times the past month....this "situation" in mining does not lead to centralization, exactly the opposite.
You know when you guys keep harping about "economy of scale" well that doesn't always mean what you obviously think it means.
You need to rethink the difference between a hobbyist miner with a couple of TH running in their basement vs a commercial building being supplied with a 0.5MW supply and transformer, and wiring performed by electricians, and CSA/UL/CE inspections, and liability insurance, and cooling the building doubling your electrical draw....and a myriad of other expenses that little children like yourselves have never encountered because you have never leased a commercial building to set up a business and you have no idea of the intricacies of business dealings at that scale.
I can't see how they are doing it when I consider the logistics and costs....certainly not with the efficiencies we have today at sub $400 prices.
I started mining again for many reasons pointed out (thanks
CMMPro for this post too, it outlines that mining data centers will scale but have an optimal limiting size that won't allow scaling beyond a practical limit with out a large supply of fractional reserve fiat.
Given the state of mining outfits in China, I can't think of anything to say but wow cheep coins. The mining centers remind me a little of a more professional version of GPU mining rig in someone's living room running the next global monetary system.
Anyway a drop in price is going to test network resilience and it's my opposition it's planned and implemented. The banking trolls not buying in now are just ignoring there new global masters at their petrol.
