Bitcoin Forum
June 21, 2018, 11:13:28 AM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
Author Topic: More miners = lower Bitcoin price (not why you think)  (Read 2764 times)
Hero Member
Offline Offline

Activity: 532
Merit: 500

View Profile WWW
October 03, 2011, 04:59:49 AM

That's how market bubbles work! Remember the housing bubble? Are there still houses being sold? Yes, but they aren't as valuable now and a majority of home owners defaulted on their loan. Does that make the house suddenly disappear? No, only the owner does in the sense that he no longer has a house. Whoever eventually buys it will then try to make a profit off it. My point is, is that there is no difference between a miner with 10 ghash/s and 10 miners with 1 ghash/s.

"I dont lift" - Lord Furrycoat
Pages: « 1 [2]  All
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!