Topic: network terahash goes up, but not the price of btc - page 2. (Read 1987 times)
There are more coins on the market now. More coins are available.
It will definitely be interesting to watch the going price for BTC over the next 3 months. It will give us a good idea of whether BTC will survive and flourish over the long term.
I have no idea why people think the price of a BTC should go up in value when there is more of them available. It makes no sense to me.
Are you thinking a rising hash rate results in a higher number of coins mined? It doesn't, as difficulty adjusts to compensate.
Back about two and a half years ago, when all the miners for the entire network combined was under 1 Ghash/s, about 7,200 bitcoins were mined each day. Today with all miners combined totaling 22,000 Ghash/s, 7,200 bitcoins are mined each day.
I have no idea why people think the price of a BTC should go up in value when there is more of them available. It makes no sense to me.
I don't understand what you mean with "there is more of them available"
Edit:
The price, in relation to mining, could rise in the medium term by:
* The Reduction, the miners will use the same time for half of production = sell more expensive.
* ASIC, miners have large GPU rigs and continue mining, not only will be affected by the reduction, but by a high difficulty that further reduce the production = sell more expensive.
I have no idea why people think the price of a BTC should go up in value when there is more of them available. It makes no sense to me.
Bitcoin can only go UP UP UP!
I have no idea why people think the price of a BTC should go up in value when there is more of them available. It makes no sense to me.
IMO, in any case, the price affects the hashrate, no the hashrate the price.
Edit:
anyway that will change with ASIC, we will have a huge hashrate at low consumption, so even if the price falls nobody stop mining.
Edit:
anyway that will change with ASIC, we will have a huge hashrate at low consumption, so even if the price falls nobody stop mining.
Hashrate isn't the only factor influencing the market.
why is this? shouldn't the increase in terahash bandwidth cause an increase in price of btc?
i mean it means that more people are fighting over blocks and its rewards
i mean it means that more people are fighting over blocks and its rewards
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