Bitcoin Forum

Bitcoin network Hashrate just keeps on going UP UP UP, BUT price keeps on going DOWN DOWN DOWN. This is not profitable for the miners by a longshot.

Only logical explanation is THIS: Goverments have developed HIGHTECH QUANTUM ASICS for sole purphose of killing cryptocurrencies where they stand in order to KEEP THEIR POWER GRIP.

THIS IS A FACT. Back to the drawing table SATOSHI NAKAMOTO. + CENTRALIZATION through development is also FAIL FYI (bribes on the dev team etc.)

https://blockchain.info/charts/hash-rate?timespan=2year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

https://i.imgur.com/oUcFXga.jpg

I'm going to assume you're trolling.  :P

Can we see your lovely facts?

Bitcoin is quite capable of killing itself with internal squabbling executed by private individuals along with the rest of the world not giving a fuck about it.

You underestimate how far they will go.

That is PROBLEM NUMBER #2

All cryptocurrencies are CENTRALIZED THROUGH DEVELOPMENT.

Back to the drawing table SATOSHI NAKAMOTO.

You're actually serious.

Ok.

Well...as much as I enjoy a good conspiracy theory, yours doesn't
make sense because if governments were secretly mining, they could either:

A) Sell most of the bitcoins as normal miners would do to fund their operation,
in which case the price wouldn't be affected.

or...

B) Hoard most of the bitcoins which would reduce supply causing the price to
greatly rise.

There is really no scenario in which the government could crash the price
unless they dumped a bunch of EXTRA coins on the market.  They did auction
Silk Road coins but it was done publicly.

QUANTUM technology IS TODAY. There is no QUANTUM COMPUTER YET, but the technology exists and they can EASILY make application-specific integrated circuit based  this technology to do something as simple as mine BITCOINS.

They are dumping constantly ALL THEIR BITCOINS what they mine and this is why the price keeps dropping. Any fool can understand that and in doing so they will CRASH the value of BITCOIN and people loose ALL FAITH and GOVERMENTS hold their ground.

Sorry dude but quantum ASICs are bullshit. Also it's not the government that trying to kill Bitcoin it's the 1% who pull the strings. The government secretly loves crypto and gold but is scared of getting shot in the head by snipers while cruising in their convertible.

Their main weapons are scams, frauds, ponzis, exchange manipulation and theft, ASIC pre-orders and could mining, malicious forks like XT and XPY, shit-coin scams and IPOs, association with illicit activities, pump & dump. In short anything that screws the crypto community out of their money and causes maximum fear uncertainty and doubt (FUD).

I'll end this post with pictures of dead presidents:

https://i.imgur.com/bc9HEfF.jpg

https://i.imgur.com/c3VI7DU.jpg

I don't think all that is down to 1%ers. The Little People are just as capable of raping the innocent if there's a flash of dollar signs in front of their eyes. Hostile brats in grandma's basement are responsible for most of that list.

This is a fact?  :o Sell me your coins please, I buy with any gift card you want, with receipts.  :P

Settle down, Beavis.

All miners need to need constantly dump most or at least many their bitcoins to pay for their operations.  This is a very competitive business with small margins.  So, the coins are going to dumped anyway, regardless of who is mining them.  

 

So you don't care WHO IS MINING THEM? You say this is NORMAL? LOL ignorance is a bliss

I do not hold any Bitcoins Sir. or I would cladly sell to you.

I didn't say that.  But I am saying your theory about the price dropping doesn't make any sense.

Last time this happened, miners stated that their lowest/break even point was 180 USD, I believe.
So, we have ways to go before the miners start shutting down. But then they just turn on again.

This is what markets do and is healthy. The whole world is shedding currently. Open your eyes.

Could not agree more. Its the, as Jeremy Clarkson will put it, 'youths' with all their computers, ipads, smart phones and the like mining away and dumping all those mined coins on fake ID's and booze as we've recently learned from that police warning about 'drinksters' and bitcoin.

Well I thank you for your consideration.

YOU and your BIP. You don't think it's easy to bribe a few people? Money is not the only bribe there is U KNOW.

There is someting like a quantum computer -called D-Wave 2x and it is working. But its not faster than other machines.

Yes exactly TODAY and the perfect technology to use to RIP ALL REGULAR PEOPLE OFF their money who don't have access to that technology they can shrink the market value of a Bitcoin down to less than one Million dollars with in couple of years depending on how big data center of Quantum Miners they will build.

Countless good discussions have been ruined by facts... :D


I do not think any goverment is afraid of bitcoin. Why would they?

It's either GOVERMENT or ENTREPRENEUR who is doing this. Either way BITCOIN + all cryptos and people holding value in it ARE DOOMED.

Good news! This only makes Bitcoin stronger.

Not for the current number of miners. So this will result in some miners stopping. Long before there's only a small number of miners left, mining will become SO profitable that plenty of miners will start again (or new miners will come). What's the problem?

If anyone makes a quantum asic that can mine faster, great! This only makes the Bitcoin network stronger!

How the f*ck would that be killing Bitoin? More hashing power = more security! And it doesn't matter whether it's the government (which government by the way, North Korea? China? Zimbabwe?) or a company or some billionaire individual or whoever.

Proof?

Then again, this post sounds like trolling. Stop it please, we have more than enough FUD already.

You obviously do not understand what holds the BTC price at the level it is. Let me make it clear for you.

WHEN someone has developed a x 10 x 100 x 1000 x 1000000 more efficient way to mine THE PRICE WILL DROP.

ENUFF SAID?

Prove your claim with actual evidence and not just statements.

Numerous pool operators just don't understand the growing hashrate's they are getting from users.

You can look at the network hashrate there's no way even high end asics are barely making profits at these rates something fishy going on.

Can some BTC high end miner come here with evidence that they are actually making profit and how much?

It is already clear to me that we are beyond normal ASICS at this point whoever is running them.

You're making a fool out of yourself.

Go away and do something with your life. I'm pretty sure if you're going to look in the mirror and think about what you have accomplished till now you're going to start crying.

While I'm not "high end" miner my underclocked Antminer S5 is making me a tidy profit.

However, I'll have to say I'm still at a huge loss in the bigger picture due to massive fraud against me by the ASIC company Black Arrow LTD. It's been almost 2 years now since I ordered a miner from them LOL.

Oh I am very satisfied of my accomplishments 2 boys, wife and very good income + profits from crypto I have everything I need.

Your attempt to make personal insult matter in a global problem HAS FAILED.

NUFF SAID

A guy who in his previous posts was begging for coins worth 10-20 cents and mining with a videocard....

Yeah , i'm pretty sure you have very good income +)))))

And I do outside of crypto altough I have probably made more in crypto the past years than you have made total income seeing as how hollow as you are still trying to make this personal you must be a BIG bagholder and I FEEL SORRY FOR YOU. I truly do nobody should take big losses on this, but they will and I will revisit our discussion later. I will see how you respond to me then. :D

You see  , that's the difference between you and me.
I use my brain and I check things first.

I'm not a bag holder and I doubt pretty much the future of BTC. Actually I don't waste a day without calling or messaging my cousin and laughing about his 100k investment =)))

But to think about reptilian overlords mining with quantum cats milking btc out of spacial cows....

You're nuts.

Here is an article that might shed some light.
https://bitcoinmagazine.com/21660/bitmain-announces-launch-bm1385-chip-future-antminer-s7-bitcoin-miner-increased-power-efficiency/ (https://bitcoinmagazine.com/21660/bitmain-announces-launch-bm1385-chip-future-antminer-s7-bitcoin-miner-increased-power-efficiency/)
Its possible some are mining with them now, not the public, but major operators.
I don't know though, I just remembered seeing this a few days ago.

Real quantum computing (i.e. not D-Wave which is a scam) can't even count to 500 let alone do SHA256 hashing

Yes I do. Demand and supply. Currently, the demand is lower than the supply. Simple as that.

(which they haven't)
NO. You seem to mistakenly confuse mining with the exchange market.

When someone has developed a more efficient way to mine, THE DIFFICULTY WILL RISE.

@
LOL NO. When someone has developed QUANTUM technology based ASICS they can MINE Bitcoin @ down to 1$ per Bitcoin and still make profit which means for a coverment especially they will want to push BTC price as down as possible for people to loose faith in it HELL THEY WILL EVEN STILL SELL ALL BTC WHEN they take loss just to make a point.

They can CRASH BTC down to it's roots. PEOPLE YOU GOTTA WAKE UP FKS you can't be this dump something needs to be done.

You are missing the point it DOES NOT EVEN HAVE TO BE QUANTUM TECH... With Goverment resources especially they can build something x 1000 more efficient than normal consumer ASIC. Wich they will because it is no effort from CHINA or USA Goverment to do that. It's like another little test to QUASH this little thing called BITCOIN.

Just so you know. If the government or anyone actually created a working Quantum computer,
which would then be convertible into smaller chips, to eventually create Quantum ASICs,
then the game is over for everyone, world wide, for everything.

If Quantum Computers are developed and deployed, nothing is safe, not encryption, not physics, not anything.
It would be a new stage of human evolution. We would be able to do anything that we could imagine.

We would get computational answers from other realms.
We could figure out time travel, go to other dimensions, anything (possibly).

I don't think people will want to tank Bitcoin/bitcoin, when the whole world will be undone.

I knew I should have bought stock in the largest tin foil producers. Hindsight..

Isn't very logical at all. If governments want to kill bitcoin, the least efficient way is to mine bitcoin. Hashrate going up just increases difficulty and does nothing to the price. If quantum computers are available, they should be used to crack private keys, not mine.  :D

hello everyone....let me ask a question, directed to any bitcoin miner whom is available to read this...

what would you do if you had a computer worth 10 million dollars with a computational power like this one: "the D-Wave 2X quantum processor evaluates all 2^1000 possible solutions simultaneously", and let´s say...u want to use it for bitcoin mining....


after answering...think about the consequences of doing what you would do with the computer....¿what could the possible consequence(s) be?

thnk u  ;D and by the way....this machine, is now available to whoever wants to buy it...can I post the link?

The government is stealing our money using quantum asics? What's next, hitler bursts out of the ground where his secret nazi army was hiding and takes over the world riding on the backs of dinosaurs that shoot lasers?

I find your faith in the competence of "government" quite endearing.

Why would they do that? They already got you (or your employer) to send money to them. They don't have to take anything as long as everyone is giving to them.

The only people they will actually steal from are those that are not voluntarily giving. But that's quite off-topic for this thread. Back to Hitler and his secret Nazi army bursting out of the ground riding laser shooting dinosaurs. I'd (almost) give my money to see that movie.

I think that's a good guess.  Possibly insane or "uneducated" otherwise.  No proof.  If the government wanted to destroy the network why wouldn't they just destroy it?  It would not be expensive for them. 

This makes no sense because:

1) If quantum computational power was available and was strong enough to crack SHA256 it would have leaked from the goverment already
2) If SHA256 was crackable the entire banking infrastructure would be at high risk, Bitcoin would be the least of their worries.