Phil - educate me here. What do you think it will take for the market to see another pump , and based on your educational background do you think we will see one in 2018 ?
Is it as simple as a small bull run , followed by main stream media touting?
It probably isn’t as simple as that , but those two factors probably could help contribute.
The original concept of pow is turning electrical power into coin.
My gut feeling for the creation of cryptocoin was that the worldwide banking system crashed and burned in 2005-2008
No country in the entire world offered a safe cd / bond at 5% since 2008.
This came along to give higher interest so to speak.
Since the world was used to higher interest rates from 1975 to 2006
Most of the time mining pays under 20% each year.
Last year mining paid sick high profit.
So to balance that asics are now flooding the markets which in turn has lowered a miners rate of return quite a bit. Under 20% profit .
Innosilicon and bitmain have sold an amazing amount of gear and low power guys have been buying and buying and buying.
All this leads me to think
We are not going to get a bull run until the asic miners stop selling gear.More on that:
They must have done 1 billion in gear sales in 2018 and much is at lower btc prices.
So when both Innosilicon and bitmain stop selling they have a vested interest in a pump of coins. Since they have a ton of them.
I have most of my profits from 2017 in cash and coin and I want to have more cheap power. buysolar and I don't have enough.
we have a ton of idle gear. 15kwatts of gear are online 21kwatts of gear are offline.
We have built coins back up and we will be getting more solar setup.