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Title: The direct buyer at the exchanges decide the price Post by: fastandfurious on August 03, 2011, 07:08:40 PM This is really easy to understand, the rig owners have already made their call, they want to mine and they are making good money doing so by selling it to the direct buyer. Why? Because they can sell their 7200 bitcoins or less /day at a profit when all the expenses are paid. Why? Because the direct buyer doesn't understand that they are in power of paying what they think is the right price, the rig owners have to make their money back, they will sell at almost any cost, 11 dollars for them are like being in heaven, I know that, because I have a mining rig my self.
The direct buyer decides who is going to make the money, the mining rig owners or them self. They can buy at 5 dollars or 10 dollars, in the end it will probably go down to the 5-6 dollar target, but it will just take more time and the extra money that you have paid per bitcoin has gone in the pockets of the rig owners. That's the real truth. |