Quote from: jackbox on January 14, 2015, 04:51:25 PM

Quote from: skinnyboy on January 14, 2015, 04:45:38 PM

Quote from: WaffleMaster on January 14, 2015, 04:42:47 PM

Quote from: Paul Revere on January 14, 2015, 04:40:37 PM

Quote from: WaffleMaster on January 14, 2015, 04:36:04 PM

It's funny they're torching Bitcoin as going lower and lower, yet their coin is pegged to Bitcoin...do they think at all before they spew garbage out of their mouth? Anyways, I want to see Bitcoin go to $20. It's still super useful at whatever price it's at. You can buy anything you want with it, quite literally. Burn baby, burn. Let's shake those greedy pigs out Grin

The issue is that when the price drops a lot of the major miners are going to quit, and transaction processing times are going to go up exponentially and therefore the usefulness goes into the toilet. Right now it is borderline for me to turn off my miners. If it was summer I would, but right now it is ok turning electricity into heat and getting a small return.

Wrong. The blocks adjust difficulty Wink

every 2 weeks. I think next time we'll see a hell of a difficulty spike downards.

Little bit longer than two weeks if the blocks take longer to confirm...but yeah, essentially the point stands :-)

I turned off my miners in Thailand. Right now mining here is a loss due to power costs unless you have a DC with wholesale power.

I don't know about you, but its still profitable for me to mine out in Montreal. Many places have very cheap (sub $0.05/kwh) power.

Maybe if BTC drops to $100 we'll see some real difficulty drops.