offcorse the risks are big, i sure hope they are realizing this.
Maybe that is the reason why the network difficulty is staying flat and price too.
Topic: KNC trying to crash the market? no ROI for anyone but them ;) (Read 1627 times)
all nonsense propaganda put out by KNC. No company can grab 40 percent sell mine and sell the coins in order to crash price.
I could go into long details as to why but the simple answer is:
bitmaintech
asicminer
bitfury
can all ramp up to 100ph in two months if they choose to do so.
The big companies have figured out to not grow quickly the risk is big.
I could go into long details as to why but the simple answer is:
bitmaintech
asicminer
bitfury
can all ramp up to 100ph in two months if they choose to do so.
The big companies have figured out to not grow quickly the risk is big.
Knc is much more than a few %. Just looking at blockchain.info you will see knc 4% piece of pie; but i read somewhere, in here, that they are at over 50ph!
Why else would they come out and say it is costing them significantly less than 400 to mine coins, they are trying to drive out competition by crashing the price. They are hoping to starve you boys out.
Being able to mine coins cheaply has no effect on the price. It just means they can take more of a share of the block reward, driving up the difficulty and driving out less efficient miners.
f you want evidence.. lets say KNC expanded to 10% network hash.. that means a maximum of 360 coins a day.. just looking on BTC-E for instance about 360 coins only changed the price by $5 at most. and that was in a 1 shot dump. and the next hour the price was back to where it was
The 360 BTC they mine in your example doesn't increase the volume because they are taken from other miners who already would have been selling.
KNC right now only have a few percent of the network, even if they invest their recent VC funding in new equipment, within 2 weeks the network will outperform their projections, as thats the reality of bitcoin mining.
also to add, only the noobs and sheeple value bitcoin based on the exchanges that only move less than 1000 coin an hour, as less than 10% of that results in actual bank transfers (true supply/demand)
so the sooner people sell bitcoins properly and stop sheep following exchanges that are bot and whale controlled, the sooner people will see true value which KNC cannot interfere with.
in short KNC's small daily haul of coins wont be able to tank the bitcoin price.
if you want evidence.. lets say KNC expanded to 10% network hash.. that means a maximum of 360 coins a day.. just looking on BTC-E for instance about 360 coins only changed the price by $5 at most. and that was in a 1 shot dump. and the next hour the price was back to where it was
also to add, only the noobs and sheeple value bitcoin based on the exchanges that only move less than 1000 coin an hour, as less than 10% of that results in actual bank transfers (true supply/demand)
so the sooner people sell bitcoins properly and stop sheep following exchanges that are bot and whale controlled, the sooner people will see true value which KNC cannot interfere with.
in short KNC's small daily haul of coins wont be able to tank the bitcoin price.
if you want evidence.. lets say KNC expanded to 10% network hash.. that means a maximum of 360 coins a day.. just looking on BTC-E for instance about 360 coins only changed the price by $5 at most. and that was in a 1 shot dump. and the next hour the price was back to where it was
Why else would they come out and say it is costing them significantly less than 400 to mine coins, they are trying to drive out competition by crashing the price. They are hoping to starve you boys out.
Jump to: