Topic: When miners hoard more, 'demand'... (Read 1175 times)
What is the causal relationship between "miners hoarding saving bitcoins" and "demand for bitcoins"? Doesn't the fact that miners even exist imply that there is demand for bitcoins?
What does "miners hoard more" mean? Not enough info.
I understand that hoarding isn't a very precise term and I wanted to avoid complicating the question (although I may have failed at that
).E.g.: a miner creates 5 bitcoins per month. They usually immediately sell 4 of them and add 1 to their retirement/savings account, but this month they've decided to only sell 3 and keep 2.
How about "withhold supply from the market"?
What does "miners hoard more" mean? Not enough info.
I understand that hoarding isn't a very precise term and I wanted to avoid complicating the question (although I may have failed at that
).E.g.: a miner creates 5 bitcoins per month. They usually immediately sell 4 of them and add 1 to their retirement/savings account, but this month they've decided to only sell 3 and keep 2.
What does "miners hoard more" mean? Not enough info.
What does mining have to do with saving? It is just a slightly cheaper way of acquiring the coins if you have the skills to set it up. Soon though custom hardware will make it dead simple and production cost will stabilize fairly close to the market price. The cheapest electricity will control mining (or whoever can use it most efficiently, such as by using the heat productively), but margins will be fairly narrow. I expect winter will bring mining power to a given hemisphere since the heat is an asset not a burden.
Damn, I knew I should have stuck '[poll]' in the title. The forum would only let me edit the question but not the thread title. Oh well.
In other news, how's it going everyone?
In other news, how's it going everyone?
Any relevant comments or questions welcome.
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