It is more about the market volume/liquidity than hashrates....
Since there are plenty of bitcoin investors profit by trading instead of mining, don't think the impact is big enough to bring it to $10K
Topic: Would Bitcoin be at 10 000$ if it was ASIC proof? - page 2. (Read 1378 times)
I always read here that coins with ASIC proof algorithms will go through the roof when scrypt ASICs will appear eventually. But why? What makes a crypto currency valuable? That you can mine it with old unspecialized hardware? Or is it because of transactions time, transaction cost etc.?
Tell us your opinion.
In my opinion we have here the classic flaw of the Marx's objective value or Labor theory of value. So that the work to make a product decides how much worth it is. Am I right?
PS: And don't fall for this that because of ASIC not everyone can participate in mining. I have no chance to mine Litecoin, Vertcoin or even Darkcoin with my Notebook. 24h full power would bring me 1-2 cents in profit. Yeah.
Tell us your opinion.
In my opinion we have here the classic flaw of the Marx's objective value or Labor theory of value. So that the work to make a product decides how much worth it is. Am I right?
PS: And don't fall for this that because of ASIC not everyone can participate in mining. I have no chance to mine Litecoin, Vertcoin or even Darkcoin with my Notebook. 24h full power would bring me 1-2 cents in profit. Yeah.
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