Topic: What will happen when... (Read 1094 times)
Technology should proceed with the increase in difficulty to keep the value stable
I think at some point the difficulty is that high that complete miningparks will be needed to mine. Than you can hop in at a few mining platforms.
My thoughts: If the profit margin of mining changes slowly enough, the profit rate should stabilize pretty well. But if the margin changes apruptly, most likely for a significant loss of the XBT market value, if could take a long time until it will adjust. Especially today where a lot of ASICs are in use, the people would not know much to do with their miners otherwise so they just might decide to continue mining for quite a while, hoping for the market rates to rise again. Or they could start mining other cryptocurrencies like Litecoin or Namecoin though I guess their market rates are quite closely tied to XBT.
mining stops being cost effective?
I imagine people would stop mining which would drop difficulty and allow a profit to be made once again? Eventually this should stabilize to a pretty steady rate of profit?
Thoughts?
I imagine people would stop mining which would drop difficulty and allow a profit to be made once again? Eventually this should stabilize to a pretty steady rate of profit?
Thoughts?
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