Bitcoin price crash forces miners off network
1–10 of 83 posts
Re: Bitcoin price crash forces miners off network
#2I think it's time that the government started to consider stepping in a providing support to these out of work ASICs.
Re: Bitcoin price crash forces miners off network
#3I think it's time that the government started to consider stepping in a providing support to these out of work ASICs.
Finally, we start talking about the real issue. \s
Re: Bitcoin price crash forces miners off network
#4They should never be there anyway, Bitcoin is a waste of time.
Re: Bitcoin price crash forces miners off network
#5If this is true, which I welcome because Chinese miner centralization has been a massive worry for us since about 2012, that still has yielded they highest hash rate (the computing power dedicated to mining Bitcoin) in the History of BTC:
https://bitinfocharts.com/comparison/bitcoin-hashrate.html
Its easy to skew this if you don't understand the underlying tech, but Bitcoin continues to work despite a supposed exodus of miners (best example being the last fork with BCash), what secures the network are the nodes, not miners. They're just participants who are rewarded for appropriating the network with hashing power.
As for the price dip, well I welcome anyone to buy $100 of BTC and hold onto a $100 and see which is more valuable now that the Federal Reserve has dropped Interest rates to 0%, and is issuing a $700 Billion QE program:
https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-t...
> They should never be there anyway, Bitcoin is a waste of time.
Personally, this couldn't have come at a worst time for me as I stepped down from my day job to undergo my SpaceX interview(s), I've turned down some gig/jobs in the last month too, but I'm glad that I have BTC as a cushion with some cash on hand.
Re: Bitcoin price crash forces miners off network
#6They should never be there anyway, Bitcoin is a waste of time.
I don't care about the time, but I'm utterly horrified at the waste of resources.
Re: Bitcoin price crash forces miners off network
#7[deleted]
Re: Bitcoin price crash forces miners off network
#8They should never be there anyway, Bitcoin is a waste of time.
It's not waste of time. I think if helped progress in the hardware. It educated people on blockchain. Now there may be rigs our there for sale, which can be reused for more important things, scientific research, etc.
Re: Bitcoin price crash forces miners off network
#9If this is true, which I welcome because Chinese miner centralization has been a massive worry for us since about 2012, that still has yielded they highest hash rate (the computing power dedicated to mining Bitcoin) in the History of BTC: https://bitinfocharts.com/comparison/bitcoin-hashrate.html Its easy to skew this if you don't understand the underlying tech, but Bitcoin continues to work despite a supposed exodus…
Bitcoin is fundamentally not a cash alternative. Which means definitionally the alternative to holding onto $100 BTC is NOT holding onto $100 cash. In fact cash is intentionally inflationary and BTC is intentionally deflationary (over long enough time scales) so yeah, you'd win your silly bet if there's no major crash. Doesn't mean you'll come out ahead of other strategies.
Re: Bitcoin price crash forces miners off network
#10They should never be there anyway, Bitcoin is a waste of time.
Maybe so, but please don't post unsubstantive comments here.