I think that most here don't understand the bitcoin price cycle vs bitcoin mining cycle. There are too many bitcoin miners, including industrial size, which mostly liquidate mined bitcoins. If situation of 2011 was to repeat itself, bitcoin price will have to move low enough for a crash in network mining capability (which is still increasing as we speak at a brisk 20% rate every 12 days even with this crash). Only if and when network hashing stabilizes or reduces about ~50% (as in 2011), the new bull market will ensue. Prediction: it will happen in the next 2-4 mo, but the price might have to go much lower first (exact repeat of 2011 will mean ~$72/BTC).
Personally, I stopped buying mining equipment already.
Personally, I stopped buying mining equipment already.
there we go we finally got someone who understands that bitcoin functions like any other commodity, esp like gold mining
inputs and outputs, and who can survive on a bowl of rice to mine that nugget
If you dig into the gold valuation stuff, you will discover that the same is true for bitcoin and gold, that the mining cost follows price, not the other way around. For gold, there is a 10 year lag, due to the time it takes to find, plan, and build a mine, plus the fact that investors would like to see that a high price is steady before they invest. There is a time lag also in bitcoin, but we don't know how large.
Well, i provided several specific predictions, but you engage in an empty rhetoric, therefore there is no common topic to discuss further.
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