Quote from: epichaberdasher on February 05, 2016, 09:30:50 AM

Quote from: notlist3d on February 04, 2016, 07:36:54 PM

The huge big money operations yes likely can operate when most home/hobby can't on price. Just watch mining and price next few difficulties really price needs to go up for this rate of expansion. This week we might possibly get 20+ on difficulty.... that is a cray number.

I don't agree at all with this, lower price affects the big companies more. Sure they can mine at lower cost per TH than a hobbyist, but a big company cannot mine at a loss for any sustainable period because they are in it for profit only, they lose millions when they mine at a loss due t sheer scale of overhead costs. They have no intention to support the network so they can only mine at loss long enough to hope they can ride it out.

A hobbyist miner mines at an insanely high cost per TH by comparison, in most cases they are close to break even or loss. But the loss is a few dollars a month, something that any hobbyist miner with another income can sustain indefinitely, since they mine for fun and for the support of the concept.

Now a small business miner is a different story from a hobbyist, guys who have a few hundred TH trying to make a profit, this is a dead/dying group these guys simply will not survive any low BTC values, their cost is much higher than a big mining company that is making its own hardware yet they are also mining as a business. They have no choice but to wait until the huge corps allow them to buy more efficient hardware.

As a hobbyist myself, i actually would love the BTC rate to plummet, cause i can run at a loss for as long as i want, and it will be pretty entertaining to see the big greedy Chinese corps struggle to stay afloat at sustained low prices. BTC will never die, the worst that can happen is that it falls out of favour with big business (the same people that are destroying the network anyway and also refusing to sell us hardware to compete with them as a truely free digital economy and distribute the network as Satoshi intended).

I agree. I would even mine more if the price drops, just to make life difficult for the big mining corps. Cool