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December 05, 2012, 12:12:05 AM |
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Three to six months might be too short a time to really see this, but now that even bitcoiners have actually felt a reward-halving I suspect that the faster the reward halves the better, as miners dumping coins ridiculously cheap might be a lot of what is keeping bitcoin prices so ridiculously low.
Maybe it is just taking a long time for all the massive hauls of coins from hacks and scams and thefts and ponzis to get cashed out, and for some time I figured ASIC makers dumping coins for fiat to build their ASICs with was doing some of it too, but I do think miners dumping coins does have an impact so for all coins the sooner the block rewards go down the better for the price, provided it does not result in a major exodus of miners.
Coins with no minting did run into the problem of not being able to find miners, but moving away from using a blockchain for the time being to prototect themselves from blockchain attacks does not seem to have hurt them, they seem to indicate that not having any more coins created ever is much more of a factor in price than being a blockchain is. Though whether they will plummet in price drastically come the day that they do move back to the blockchain format, possibly due to perceived danger of attack or even perceived danger of losing coins to hacks, remains to be seen.
-MarkM-
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