Quote from: speckman on July 17, 2011, 07:25:20 PM

Quote from: imanikin on July 17, 2011, 06:15:18 PM

I also think it's good in the long term that the price is going down. The late arrivals were complaining that the price was bubbled, too high, and unaffordable to the mainstream...

Well, here you go, maybe it will drop to the more affordable early-adopter levels again - USD parity or whatever... Cheesy

B worked just as well at 33 US cents, for everyone except short-term speculators... Wink

Yeah, it would work great for everyone but the miners who bought their equipment for, let's say $1k, knowing that it would generate a maximum of, say 60-100 bitcoins over its lifetime due to increasing difficulty. Not cool if BTC drops to 33 cents.

Ie. in order for the miners to stick around, there has to be some sort of reasonable ratio of difficulty to price. At the very least to cover electricity (I get it cheap but it's quite possible that I'll spend half of my earnings on the utility bill this month at the current market prices and a difficulty increase).

#

Ok, as a note - if it is not good to mine, stop - enough stop, difficulty goes down.

Second, if you think yo uare cheap in getting electricity and STILL expect to pay 50% you are delusional. I currently mine on my appartment (end user priceing) and my cost is more like 20%. And next month I switch to a commercial space - rent and all paid from the savings in power costs (only). So, if you pay 50% you do NOT get electricity "quite cheap".