johnyj (OP)
Legendary
 Offline
Activity: 1988
Merit: 1012
Beyond Imagination
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April 22, 2013, 05:05:18 PM |
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It's obviously the more and faster they produce ASIC, the worse their products will be priced due to rising difficulty caused by their delivery  And control the speed of rise in difficulty also has a benefit of stablize the bitcoin price appreciation so it could be more predictable |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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aqrulesms
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April 22, 2013, 05:33:15 PM |
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No, bitcoin is not big enough for anyone to seriously organize a "ASIC miner" organization.
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PatMan
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April 23, 2013, 02:28:15 PM |
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Like OPEC? That criminal cartel that price fixes across the board? I bloody hope not  |
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Dalkore
Legendary
Offline
Activity: 1330
Merit: 1026
Mining since 2010 & Hosting since 2012
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April 25, 2013, 11:22:28 AM |
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Like OPEC? That criminal cartel that price fixes across the board? I bloody hope not An ASIC cartel could not "fix" prices. But the idea of miners working something out so they can all be a little profitable other than only a few, is not the worst idea. Many people complain about the centralization of Bitcoin mining, they is one way people could try and find a solution. Not sure how you could get enforcement, at the pool level maybe. |
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Viceroy
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April 25, 2013, 02:40:32 PM |
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so they can all be a little profitable other than only a few, is not the worst idea.
So the only way to mine is to have 3 major mining companies fixing the price of coins. Bitcoin is broken, no? |
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Quix
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April 25, 2013, 10:58:21 PM |
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No, because someone else would just make miners. OPEC only works because they control the oil is only in specific places. ASICs can be made anywhere.
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mgio
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April 26, 2013, 02:47:16 AM |
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No, for many reasons. First of all it would be illegal, in the US at least, and be shut down pretty fast.
Second of all, the price people are willing to pay for miners is directly related to how much money they can make off using one. So the market will determine the miners price and the sellers will adjust their price to maximize their profits.
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Viceroy
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April 29, 2013, 02:01:14 PM |
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I am forming a group now. If you want to be a price setter rather than a price payer, you need to sign up today!
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wrenchmonkey
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April 29, 2013, 09:55:09 PM |
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I am forming a group now. If you want to be a price setter rather than a price payer, you need to sign up today!
Good luck with that...  If you want to be a price setter, design a product that people want. End of story. |
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Operatr
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April 30, 2013, 12:45:49 AM |
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Miners are not global conglomerates or corporate bankers, they are tech enthusiasts and futurists. Even if one coin were subverted that way, one of the others could feasibly replace it and simple dis-adoption would remove that OPEC like power structure like cancer. Bitcoin is more self corrective than people give it credit for. It could be true if Bitcoin itself was the only crypto in existence, but Bitcoin and Litecoin have spawned many derivative coins that all ride the same network and hardware.
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shirokuma
Newbie
Offline
Activity: 14
Merit: 0
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October 16, 2013, 08:12:48 AM |
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From consumer's side, Oil is basic necessities, but Bitcoin is not.
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cowandtea
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October 18, 2013, 08:01:18 AM |
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From consumer's side, Oil is basic necessities, but Bitcoin is not.
Bitcoin is a necessities (maybe not now but in the future), just like fiat. |
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theonewhowaskazu
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October 19, 2013, 02:16:48 AM |
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No, for many reasons. First of all it would be illegal, in the US at least, and be shut down pretty fast.
Why exactly would it be illegal?  |
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