Miners should Start a Union

[troleybüs]

imagine if the TOP 5 mining farms (or maybe 10-30?) would demand to sell coins for 10-20% higher then todays value.

How can they do that? Price is created in the market. They can't sell for higher when market decides the Bitcoin price, they can only decrease the market price. You can't manipulate market price when the demand is at the same rate.

[wikenpp]

imagine if the TOP 5 mining farms (or maybe 10-30?) would demand to sell coins for 10-20% higher then todays value.

How can they do that? Price is created in the market. They can't sell for higher when market decides the Bitcoin price, they can only decrease the market price. You can't manipulate market price when the demand is at the same rate.

This is called market manipulation and it's illegal.

Let the miners and traders find a stable price by supply & demand. It is the most natural way of price stabiliatzion. 

In the end the price will be stable instead of so much fluctuation.

[Yakamoto]

Miners starting a union, that'd be an interesting feat.

What are you going to do, stop mining?

I'm not sure how exactly you'd expect to pull something like this, since there isn't much you can argue against in a decentralized monetary system lol

Good luck with your union and strikes 

[notlist3d]

Miners starting a union, that'd be an interesting feat.

What are you going to do, stop mining?

I'm not sure how exactly you'd expect to pull something like this, since there isn't much you can argue against in a decentralized monetary system lol

Good luck with your union and strikes 

I sometimes wonder why some threads do not die.  You can not have a mining union... it's that simple.  Union bargain with someone, btc controlled by open market no boss or company to bargain with.

You would have to own enough of the BTC mining to fix prices... which would be bad in long run.  If someone as fixing prices chances are BTC would take a dive in price, as it defeats the decentralization.

Now can we let this thread die? Please? lol.

[Palider]

Miners starting a union, that'd be an interesting feat.

What are you going to do, stop mining?

I'm not sure how exactly you'd expect to pull something like this, since there isn't much you can argue against in a decentralized monetary system lol

Good luck with your union and strikes 

I sometimes wonder why some threads do not die.  You can not have a mining union... it's that simple.  Union bargain with someone, btc controlled by open market no boss or company to bargain with.

You would have to own enough of the BTC mining to fix prices... which would be bad in long run.  If someone as fixing prices chances are BTC would take a dive in price, as it defeats the decentralization.

Now can we let this thread die? Please? lol.

That is right. If the miners are not satisfied with the current profit, it can stop mining. Nobody will prevent that. It is their choice.

[Betwrong]

Miners starting a union, that'd be an interesting feat.

What are you going to do, stop mining?

I'm not sure how exactly you'd expect to pull something like this, since there isn't much you can argue against in a decentralized monetary system lol

Good luck with your union and strikes 

I sometimes wonder why some threads do not die.  You can not have a mining union... it's that simple.  Union bargain with someone, btc controlled by open market no boss or company to bargain with.

You would have to own enough of the BTC mining to fix prices... which would be bad in long run.  If someone as fixing prices chances are BTC would take a dive in price, as it defeats the decentralization.

Now can we let this thread die? Please? lol.

This thread isn't dying because the topic is pretty interesting to many people here (including me). It doesn't matter how many times the question was answered in this thread it is still interesting to see new opinions or even those which are similar to previously written but put in other words.

As for whether should miners start a union I already answered earlier in this thread.

[notlist3d]

Miners starting a union, that'd be an interesting feat.

What are you going to do, stop mining?

I'm not sure how exactly you'd expect to pull something like this, since there isn't much you can argue against in a decentralized monetary system lol

Good luck with your union and strikes 

I sometimes wonder why some threads do not die.  You can not have a mining union... it's that simple.  Union bargain with someone, btc controlled by open market no boss or company to bargain with.

You would have to own enough of the BTC mining to fix prices... which would be bad in long run.  If someone as fixing prices chances are BTC would take a dive in price, as it defeats the decentralization.

Now can we let this thread die? Please? lol.

This thread isn't dying because the topic is pretty interesting to many people here (including me). It doesn't matter how many times the question was answered in this thread it is still interesting to see new opinions or even those which are similar to previously written but put in other words.

As for whether should miners start a union I already answered earlier in this thread.

It is something that is impossible at it's core to do.  I mean it's not even if we can start a union.  As said before a union bargain's with someone... you cant bargain with free market.   We CAN NOT have a union we have no boss/employer.  So a bitcoin union is a moot point.

At first yes was interesting.  But at this point it's been talked about and no new views have came up... just ones that are repeated and are close to one before.  That is why I thin it should die. 

[notlist3d]

I hope this is a joke, it would never work, while others go on strike or refuse to sell coins until lets say 500$ btc someone will gladly sell anonymously for 450$ all day long.

It is laughable that some that a few post's above we see someone act like people are still giving good ideas about a bitcoin union.  At least I know I'm not alone now on it being so stupid it has to be joke or something like it.

A union with no one to bargain with... not going to work.  Only way is if they had a monopoly on amount of BTC made and could control only sell so many where price rised to an amount.... but this would destroy bitcoin as then 1 has to much control.

I hope within a few day's it truly does die as a thread.

[Zaduca]

I hope this is a joke, it would never work, while others go on strike or refuse to sell coins until lets say 500$ btc someone will gladly sell anonymously for 450$ all day long.

There are lots of competition in the mining sector. Every quarter there are some improved miners coming to market. It is difficult to form a union.

[BTCBinary]

Totally agree with the idea. Yes we do need a mining Union. In the future we might see a regulatory framework that penalizes miners. Miners need to be united to fight for their interests.

[calkob]

We demand higher price. We no sell coins !

seriously its worth thinking of haha imagine if the TOP 5 mining farms (or maybe 10-30?) would demand to sell coins for 10-20% higher then todays value.

what could you even do about any issues you have, what down your mining rigs....lol  happy days a GPU mining will be back that day......

[notlist3d]

We demand higher price. We no sell coins !

seriously its worth thinking of haha imagine if the TOP 5 mining farms (or maybe 10-30?) would demand to sell coins for 10-20% higher then todays value.

what could you even do about any issues you have, what down your mining rigs....lol  happy days a GPU mining will be back that day......

Let this thread die.  Why bump threads like this?  It was decided it in no way would ever work... not possible.

There is no reason to continue unless trying to get posts.  It already was going down in page.... but was bumped up again.

[Laviathon]

Maybe the union can just negotiate with our power companies for us and get far better rates for miners. BTC

[dk8218]

Hahhaha...
Yup i think so...
But it's like impossible to get a union...
Because bitcoin is too much spreaded thing...
And if you do then others will sell at low cost for their faster selling...
So it depends

[Sir_lagsalot]

A Union would be a great idea. As soon as there is word that there is going to be a Union, the price would jump, with people wanting to make profit off piggybacking the Union. This'll increase the popularity of bitcoin due to the price rising, and mining will be moar profitable <3

It might work if we have one mining power, which has the will to work together for a better bitcoin, instead of more of it.

[notlist3d]

Maybe the union can just negotiate with our power companies for us and get far better rates for miners. BTC

I hate this thread keeps coming up.  A bitcoin union will not and can not ever work.

On this we would need a great deal of miners in same area and on same power company.  This is not realistic for all miners to be on same.  The data center's that use ton's of power.... tend to go to places with good deals on electricity.     So the places where lots of usage is happening... they already have good rates.

[l8nit3]

isnt that kind of the opposite of a 'decentralized' coin? No one person/corporation/entity is supposed to have that much control. Or i guess it could be considered a new type of pump lol

[Yakamoto]

isnt that kind of the opposite of a 'decentralized' coin? No one person/corporation/entity is supposed to have that much control. Or i guess it could be considered a new type of pump lol

Maybe the union can just negotiate with our power companies for us and get far better rates for miners. BTC

I hate this thread keeps coming up.  A bitcoin union will not and can not ever work. <snip>

I made the mistake of responding to this thread, and notlist3d makes a good point that this thread should die. Can we please let it drift into the abyss?

[Greenenergy]

That would be a good idea to pump the BTC price

[Muhtaixa]

That would be a good idea to pump the BTC price

Do you mean the miners do not sell or sell a small amount of the bitcoin they mine? It is a free market, anybody can join if there is profit to make.