End of an Era

[carm]

it makes some effect for bitcoin prices or not if 1 of the big pool closed?

No. Mining is affected directly by the price of bitcoin. The price of bitcoin is not directly affected by mining.

This has been stuck with me for a few days.

Is it due to the volatility, arbitrage market,  that miners see an affect from fluctuations?

[1715637026]

1715637026

[VulgusMan]

i do not understand...
btcguild close or not???

hope someone can clarify

[alh]

it makes some effect for bitcoin prices or not if 1 of the big pool closed?

No. Mining is affected directly by the price of bitcoin. The price of bitcoin is not directly affected by mining.

This has been stuck with me for a few days.

Is it due to the volatility, arbitrage market,  that miners see an affect from fluctuations?

Large scale miners are affected because most of their inputs to mining (e.g. electricity, rent, cooling, staff, hardware) are priced in USD (in the USA). That means when it comes time to pay the electric bill, or staff wages, or rent, they may need to sell some BTC to do so. They may find they have less, or possibly no, BTC left over. Small scale home miners don't have the same constraints, but they may also decide not to subsidize their mining "hobby" forever.

[picolo]

it makes some effect for bitcoin prices or not if 1 of the big pool closed?

No. Mining is affected directly by the price of bitcoin. The price of bitcoin is not directly affected by mining.

yup, if the bitcoins drops again most miners would be forced to close

Some have huge margins so it would just mean they are not making much money out of their investment or suffering a small loss but most will keep mining hoping for a higher price in the future.
If the price stays relatively low mining farms will slow down investments and not replace hardware; there will be less new farms and they will be smaller

[Jeremias]

btcguild is not closing down, it is official, as per the announcement on their website.

[VulgusMan]

btcguild is not closing down, it is official, as per the announcement on their website.

thanks jeremy!

[elliwilli]

Damn, i dont mine BTC anymore but i used to mine on that pool. shame to see them go realy...

[picolo]

Btcguild planning to shut down by January 31, 2015.

https://bitcointalk.org/index.php?topic=49417.msg9395478#msg9395478
http://www.reddit.com/r/Bitcoin/comments/2kwmhd/btcguild_shutting_down/

Wow, is it really the mining farms getting on the bitcoin economy? What started out as P2P now getting converted to B2C. Now, the regulations will come in place slowly.

It is the end of an area in the Bitcoin mining landscape but it is comforting to know you are leaving ahead and paying everyone

https://bitcointalk.org/index.php?topic=49417.msg9395478#msg9395478

[-ck]

Please stop the confusion, it's been stated multiple times that for the time being, Eleuthria is NOT closing btcguild.

/locked