[2016-05-21] Bitcoin Miners Follow Profit to Ethereum Blockchain

[bitcoin730]

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/

[1Referee]

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.

[Kprawn]

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. 

[richardsNY]

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.

[Redrose]

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$ ?

[Xesystme]

The big Chinese bitcoin miners will not invest too much in the Ethereum mining. The PoW shall finish some time next year.

[TraderTimm]

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.

[BellaBitBit]

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.

[richardsNY]

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.

[eyeknock]

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

[Xesystme]

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.

[Elenkareem]

for me mining etherum is better than mining bitcoin.
but No for holding it, i will choose sell my eth and hold bitcoin