Re: Chinese Miners Revolt, Announces Plan to Hard Fork to Classic
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Ok, well we disagree.
If Miner's do not care about future use, but only the now, then they wouldn't investment more money into hashing.
That increase in hash is a vote of confidence of the future.
No, increase in hash rate is a vote in your future. Many miners will go belly-up. Which? Will it be the ones mining with obsolete junk on the brink of profitability, or the ones who have the latest-greats-most-efficient gear? Ok, well we disagree.
If Miner's do not care about future use, but only the now, then they wouldn't investment more money into hashing.
That increase in hash is a vote of confidence of the future.
Who could mine at a loss longer? It makes sense if it will bankrupt your competition. Who can afford to dump coins on the market and drive down prices?
You don't allow for the mindnumbing complexity of how this thing works.
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If Miner's only believe in the now, they better jump ship now before they default and go bankrupt.
Trust me, they're probably running fairly powerful market models, there are people who do this shit for a living. Not some bro doing back-of-the-Chinese-delivery-menu calculations. Whatever maximizes profit
