Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Sitarow
on 21/01/2016, 20:34:03 UTC
...
If you are referring to pool and network computation share of the pie than what you see are the results of pool participants that can easily direct their hardware at other locations if the need arises. That hash-power is migratory.  

The changing landscape of the infrastructure that supports bitcoin is constantly evolving and to think the old rules apply is short sighted understanding.

Lolno. The hashpower stays where electricity costs are low/government subsidized: China.


It is true that mining has been a community service more than a self sustaining endeavor that would result in long turn profit.

The sooner people recognize that mining profitably and mining to get a lions share of the daily bitcoin subsidy pool the richer the local economy in that area will be.

For instance if a government or corporation recognized the value of mining bitcoin they would subsidies hardware development and support building infrastructures that would employ members of the local community.

For one example would be to use bitcoin mining as a way to subsidies operating costs of a power plant. Why have simply the local community pay for the electricity, why not get the global population that use BTC to pay for the power plant operating costs... Wind solar and so on. Many options have presented themselves in China but due to the ever changing landscape of the technology that is used to mine bitcoin being competitive only lasts on average 3 to 6 months before your initial investment costs are no longer recouped and you are forced to "UPGRADE".