Supply reduced by 10400 BTCitcoins since halving!Just that thought makes the growing pains of miners grow!
I was actually thinking of convincing everyone from a 100 kilometer radius to use their personal computer to start mining and make miners life harder!
Imagine if we could just educate 1 million people with strong personal computers to mine and decrease the supply the big miners receive! That would create an interesting shortage and price spike!
With ASICs I don't think it would matter if you convince a whole country to mine with computers, because they would get just a small hashpower and would mine nothing in practice
It is not about the gain! But for many... just like me I keep the computer On and running for 80-90% of the time all month! And even if I get 0.0005 per day or even per week! It would still be worth it.
And having 1 million people doing the same thing ... That would mean 182500 coins per year! ... Who cares? It is just electricity! We pay it anyway! Spiting the mining supply is a good reason enough!
Current mining rewards from 400 MegaHash GPU
per Month 0.00001565 BTC $0.01
Also, your pc being on is very different from your pc being under load. You will spend $50 to make $0.01.
So ... a 14 TeraHash mining thingy costs 2000$ ... that will make 0.00182583
BTC per day based on your number! And 0.66642795
BTC per year... But considering the difficulty increase... 0.4
BTC would be more appropriate! ... But...
But I am not talking about short term profitability... I'm talking about throwing money on the window for a future possibility!
...
Meaning that with those 2000$ it would probably be more advantageous to just
buy 3x 666$ coins... Now!And I knew someone would bite! I lured you in guud!
... Meaning if we convince a few million people to buy coins... Especially if sometime in spring it will be somewhere between 10.000$ and 50.000$ per coin... that 14TH gizmo will be better then, than now... And it will force the price to go to 100k$ faster.... and probably by the year 2021 - 2022 ... for each 1x
BTCitcoin will be worth somewhere near 2-3$ millions per coin?
Sorry if I was misleading ... I do not advice anyone in buying useless mining equipment! I was just proving a point! For people to understand the situation with a much broader perspective! The solution is just buy and hold to create a shortage! It would be a better solution for the pumping of the price! Also if people could create a small business or if they already have a small or big business... they should accept bitcoin to homogenize and secure the future!