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Bitcoin => Press => Topic started by: bitcoin730 on May 21, 2016, 09:21:33 AM



Title: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: bitcoin730 on May 21, 2016, 09:21:33 AM
Bitcoin Miners Follow Profit to Ethereum Blockchain

The rush to capitalize on ether, the native cryptocurrency of the Ethereum network, is in full swing.

Among those interested are the world's miners, who operate vast networks of machines that process bitcoin transactions. Recent increases in the price of ether have sparked some bitcoin mine operators to expand their operations to cover it.

http://www.coindesk.com/bitcoin-miners-ethereum/


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: 1Referee on May 21, 2016, 09:28:12 AM
It's normal. Bitcoin miners are only in the game to make profit, so if they see a certain coin with solid buy support and huge profit making possibilities, then of course they will put their focus on coins as ETH. Who wouldn't if they can earn big time with it.


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: Kprawn on May 21, 2016, 08:35:44 PM
I hope most of them will fckoff and start mining ETH... then the difficulty will drop and smaller individuals can start mining again. If it drops low enough, we might just see CPU/GPU mining being

profitable again. Once the ETH pump n dump has run it's course, we will see many of them coming back to Bitcoin again. We might even see some cheap coins, and I hope to cash in one that

opportunity. Ethereum pump at full throttle.... dump incoming.  ;)


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: richardsNY on May 22, 2016, 02:25:09 AM
I wonder how long it will take before everything starts to come down to more realistic prices. At this point the hype around Ethereum is too big and it shows as the price is insanely high with so many circulating coins. I don't think that Bitcoin miners will invest too much in extra hardware to go big into mining Ethereum as they also know that the price will start tanking significantly once everything is cooling down. They see it as a welcome extra bit of income.


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: Redrose on May 22, 2016, 06:13:50 AM
I wonder how long it will take before everything starts to come down to more realistic prices. At this point the hype around Ethereum is too big and it shows as the price is insanely high with so many circulating coins. I don't think that Bitcoin miners will invest too much in extra hardware to go big into mining Ethereum as they also know that the price will start tanking significantly once everything is cooling down. They see it as a welcome extra bit of income.

Price of Ethereum might not be flawed. Some papers are valued 100$ in the USA. Why something reliying o,n a strong technology couldn't be worth a little 14$ ?


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: Xesystme on May 22, 2016, 02:19:01 PM
The big Chinese bitcoin miners will not invest too much in the Ethereum mining. The PoW shall finish some time next year.


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: TraderTimm on May 22, 2016, 02:46:59 PM
I wonder how long it will take before everything starts to come down to more realistic prices. At this point the hype around Ethereum is too big and it shows as the price is insanely high with so many circulating coins. I don't think that Bitcoin miners will invest too much in extra hardware to go big into mining Ethereum as they also know that the price will start tanking significantly once everything is cooling down. They see it as a welcome extra bit of income.

Price of Ethereum might not be flawed. Some papers are valued 100$ in the USA. Why something reliying o,n a strong technology couldn't be worth a little 14$ ?

It consumes tokens for performing computations, that's why. This means they'll have to increase the supply at some point, unless they want everyone to abandon their "DAPPS" because the per-token price is too high for them to do anything with it. That's the fundamental problem with ETH, not to mention the flawed "Decentralized Autonomous Organization" voting scheme, which encourages people not to vote for a given proposal, so they don't "lock" their ETH up.

Its just a nightmare of a mess, and the only thing keeping it going is the pumping squad trying to get a few more shakes out of it before it all falls apart.


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: BellaBitBit on May 22, 2016, 02:51:17 PM
It's normal. Bitcoin miners are only in the game to make profit, so if they see a certain coin with solid buy support and huge profit making possibilities, then of course they will put their focus on coins as ETH. Who wouldn't if they can earn big time with it.

I agree, seems like a normal business move = profits!  There will be more and more capital coming into alts and there is room for both Bitcoin and ETH.


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: richardsNY on May 23, 2016, 01:53:37 AM
I wonder how long it will take before everything starts to come down to more realistic prices. At this point the hype around Ethereum is too big and it shows as the price is insanely high with so many circulating coins. I don't think that Bitcoin miners will invest too much in extra hardware to go big into mining Ethereum as they also know that the price will start tanking significantly once everything is cooling down. They see it as a welcome extra bit of income.

Price of Ethereum might not be flawed. Some papers are valued 100$ in the USA. Why something reliying o,n a strong technology couldn't be worth a little 14$ ?

It's already worth that much and the chances are there that the price will go even higher than that. It's however still an altcoin which currently is getting hyped up to the max. People are waiting for the massive dump that may or may not happen any time soon.


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: eyeknock on May 23, 2016, 09:42:58 AM
I hope most of them will fckoff and start mining ETH... then the difficulty will drop and smaller individuals can start mining again. If it drops low enough, we might just see CPU/GPU mining being

profitable again. Once the ETH pump n dump has run it's course, we will see many of them coming back to Bitcoin again. We might even see some cheap coins, and I hope to cash in one that

opportunity. Ethereum pump at full throttle.... dump incoming.  ;)

even with the recent increment of the diff of ETH, mining ETH is really profitable even for small miners at the moment, but dont worry, this will be temporaly, they will come back to bitcoin soon ;) as you sayd, dump is coming, in the end everybody wants only BTC...

I agree, seems like a normal business move = profits!  There will be more and more capital coming into alts and there is room for both Bitcoin and ETH.

dont think so, ETH is just like another way to get more BTC ;)


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: Xesystme on May 31, 2016, 09:04:40 AM
dont think so, ETH is just like another way to get more BTC ;)

For some people, it is. My friend mines the Etheruem using graphics and computers, then sells for bitcoin.


Title: Re: [2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain
Post by: Elenkareem on May 31, 2016, 09:06:13 AM
for me mining etherum is better than mining bitcoin.
but No for holding it, i will choose sell my eth and hold bitcoin