jojo69
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diamond-handed zealot
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July 15, 2018, 11:57:00 PM |
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Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period). By the time you could use your laptop again the value would be in the single $, presumably.
We've never had to endure a mining bear market. Repeated drops in difficulty would be painful. please god let it happen in the winter time
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jbreher
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lose: unfind ... loose: untight
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July 16, 2018, 12:11:15 AM |
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PS the miners were never intended on being a separate group from the users.
“The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don’t generate.” - snSatoshi didn’t foresee ASICs.
“At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware.” - sn
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yefi
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July 16, 2018, 12:43:37 AM |
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Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period). By the time you could use your laptop again the value would be in the single $, presumably.
We've already had two halvenings, a hardfork with bcash and 80-90% drops in price and this "heat death" scenario has never materialised.
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V1lpu
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July 16, 2018, 01:07:58 AM |
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Biodom
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Merit: 4125
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July 16, 2018, 01:08:14 AM |
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Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period). By the time you could use your laptop again the value would be in the single $, presumably.
We've already had two halvenings, a hardfork with bcash and 80-90% drops in price and this "heat death" scenario has never materialised. Perhaps, and I hope so (that it stays this way); I was just pointing out to two groups of posters (pure hodlers and pretty picture TA guys) that there is a price sensitive component (mining) that, in my opinion, is being stressed right now. My suggestion is to buy more btc if you want your btc to persevere. Simple HODLing won't work.
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Searing
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Clueless!
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July 16, 2018, 01:20:24 AM |
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yeah...what I figure..took 1/2 of my BTC and Crypto and 1/2 of my traditional stocks etc and IF I manage to continue to stay out of debt (and house is paid) I can slide by on my usual 35K salary I had before I retired in Jan 2018 (3 years early) and same with alts and such till at least 65 years and have another small work IRA to get me thru that last year to full retire at 66 years, and keep my BTC and maybe some alts in the process. Also at 65 you can take medicade thus that is another 14k saved a year too boot... so i can slide...thru what I see as a complete sh*tstorm in the next 3-5 years so pay off your j.c. penny card, get new tires, neuter the cat, get some debt down ANYTHING before this all happens...so at least if it does go kaput with a nice deep 40% correction you can say at least i did xxxy of course I hope that if such happens BTC and crypto would act as a store of value and go sideways or up in value while stocks etc dumped but the above is 1/2 of all my crap gone..stay out of debt ... and still float is the goal hopefully, I'm wrong and all will be just dandy crypto and otherwise...(but not seeing it) later brad
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Rosewater Foundation
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July 16, 2018, 01:23:38 AM |
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With Wall Street in like Flynn I don't imagine we'll be the safe haven everyone imagines we'll be. We're pegged to the mainstream now, like it or lump it. Of course, macroeconomics isn't really one of my strengths. I'm more an ideas man.
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Anon136
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July 16, 2018, 01:33:14 AM |
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Everything bubble Everything except gold and silver bubble . That's why I still like them so much as an asset. The price action has obviously been abysmal in those market, but like I said a few posts back, price doesn't interest me that much (well you know except when other factors motivate me to sell at which time I hope the price happens to be high).
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Hueristic
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Doomed to see the future and unable to prevent it
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July 16, 2018, 02:26:22 AM |
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It was a -vich hunt all along. SHUM lol
nobody is going to stop mining
fool me once...shame on...shame on you...fool me, can't get fooled again
https://www.youtube.com/watch?v=zYMD_W_r3FgHEY, Just noticed I'm not alone anymore.
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sirazimuth
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born once atheist
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July 16, 2018, 02:37:43 AM Last edit: July 16, 2018, 12:38:18 PM by sirazimuth |
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Imagine if some bitcoiner fell into a coma right after it cracked 5k last year and just now woke up. he'd be like... $6300.. wow! bitcoin up over a $grand in less than a year!!!, wooo-hooo!!!
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bitserve
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Self made HODLER ✓
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July 16, 2018, 03:05:50 AM |
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Imagine if some bitcoiner fell into a coma right after it cracked 5k last year and just now woke up. he'd be like... $6300.. wow! bitcoin up over a $grand in less than a year!!! wooo-hooo!!!
Nonsense. If I ever fall into coma and wake back I would be fully expecting Bitcoin to be well over $100K. Otherwise I would be very disappointed and just fall into coma again until the next halving. ... Yes, I am such a deluded fool. And I am getting a bit annoyed considering there are only few months left before we can't use the "less than a year ago" price reference anymore and we are forced to resort to longer time frames for positive result.
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HairyMaclairy
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Degenerate bull hatter & Bitcoin monotheist
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July 16, 2018, 03:08:37 AM |
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Imagine if some bitcoiner fell into a coma right after it cracked 5k last year and just now woke up. he'd be like... $6300.. wow! bitcoin up over a $grand in less than a year!!! wooo-hooo!!!
We were sitting in the $1800 - $2500 range in July 2017.
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infofront (OP)
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Shitcoin Minimalist
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July 16, 2018, 03:10:46 AM |
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I was looking at one of MasterLuc's graphs from last August. His calls were about 4-5 months too early, but he was reasonably close.
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Rosewater Foundation
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July 16, 2018, 03:11:14 AM |
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Hodling all the way down was the functional equivalent of falling into a 6 months coma. Waking up to that has been terrible.
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mymenace
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Smile
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July 16, 2018, 03:13:39 AM |
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Finalise whales, buy alts on way down
Trezor Legacy address complete implementation x 6
Exchange diversity increase, mix cryptopia/wex/bittrex
Asset exchange strategy to implement btc/gold btc/silver btc/tax btc/utilities btc/real estate
Monitor TA and FA for the event
In the end everyone will lose something Hits from everywhere
Diversity is the only success
FYI coinking
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Rosewater Foundation
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July 16, 2018, 03:19:50 AM |
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Excellent aside. Really makes you think, doesn't it?
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jojo69
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diamond-handed zealot
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July 16, 2018, 03:29:35 AM |
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...get new tires...
did that one of the very few extravagances I allowed myself last fall, was getting pretty tired of the mismatched Mexican-used-tire-shop specials I was running
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