Yeah I guess you´re missing the fact that the more the price of this wonder thing tanks the more difficult it becomes to mine it. Price of product and production capacity have an inverse correlation. This sort of production model is very unusual I must say.
Some still have BTC from the good ol' $10-$20 days not so long ago and they are still ahead of the curve. Likewise, if you have the mining infrastructure, there is still a lot of revenue to be made hashing BTC.
In summary, its all relative.
Scott-
mining isnt that big a revenue at the moment... we are fast aprouching the hurt barrier for alot of mining operations... myself, im mining at break even, but since i dont have a big mining operation going on, i do it as a pure hobby thing...
also, total network hashrate is falling, and since the change yesterday... 14 hours aprox, time to next change is still at 14.6 days, so im guessing miners are being shut down at current btc price....
Bitcoin will fail because nobody will mine it at a loss. NOBODY. Not even people who profit huge off of it's trade. I mean cmon, it wasn't supported years ago so why should people support it now. Doesn't make sense. Nobody cares if Bitcoin will die and won't pay $20 a month in electricity to mine it let alone tens of thousands of people supporting the block chain at a loss of 10-20 dollars a month. Get real fudders. guldur and I know our shit noob so s-troll along
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Yeah I guess you´re missing the fact that the more the price of this wonder thing tanks the more difficult it becomes to mine it. Price of product and production capacity have an inverse correlation. This sort of production model is very unusual I must say.
I hear fracking and oil drilling are having almost identical issues.
Pffft oil isn't shit it's so useless. Paycoin way more useful isn't that right galdur.
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