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July 01, 2013, 06:21:00 AM |
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Well said.
After the first major "crash", I did as you said and turned my miners off. Instead of buying them when they were cheap, I believed the hype that the bubble had popped and that the ride was over. I missed out on months of coins because I didn't think far enough ahead even though I believed in the technology.
The flat and downward parts of the difficulty curve are where the meat is. I think if you are new to Bitcoin, you've never seen the difficulty drop. For all you know, it always goes up. A trip down to $20 at this point would make for some fascinating drama.
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