I have some questions for miners and traders.
1. As more and more Companies see BTC threatening to their business.
Hipotetically speaking lets say company PP that has lots of money and invest in 25nm ASIC chip.
They build data center that can hash >50% of global BTC net hash power.
Will it cause BTC price to drop as more and more people will find mining unprofitable as diff skyrockets and will leave network, yielding less people having generating less BTCs
that will cause less community support less BTC transactions.
Also PP can go further and start selling BTC for less returning their initicial investment
but also taking BTC price to lets say $50/BTC or they can go radical and sell for $X
yielding more people leaving a network as profitability drops and will actually turn to unprofitably for most of people.
At the end PP crashed BTC , gets 50% of their investment back , protects their original business.
2. As current ASIC chips will start shipping soon and if #1 doesn't happen hopefully, by the end of this year many people will have ASIC miners , given that ASIC consumes 40 times less power or 4000% less ie
5GH GPU ~2KW
VS
5GH ASIC 0.05KW
can this drop BTC price or will difficulty even this out ?
3. If more and more people start to mine ( my grandpa wants to invest in BTC mining
) and as more and more people gets hold of BTCs they will want to spend it somewhere.
Online/offline stores will eventually start to offer BTC support.
So my question is will this pump BTC price up, as we all know that 11M coins are now in circulation , as time goes on less and less will be produced but much more people will want to have it ?
Any thoughts?
, so it not just plug it in the wall and forget it, you need to spend a lot of time researching and watching really a full time job! 