Post
Topic
Board Economics
Re: What happens to mining if the price of Bitcoin tanks?
by
arkintunde
on 28/01/2014, 08:46:50 UTC
I guess we would see the market flooded by a lot of cheap mining equipment from people freaking out though.  

That would be a sight to see. I would buy a lot of equipment if people went crazy selling theirs. The technology has an infinite number of possible applications that we may not know about until some developer comes up with something exciting. Imagine everyone sold all of their internet infrastructure equipment back when the dotcom bubble burst. It was years later when the genius sites like Youtube, Facebook, Twitter, etc. and applications like Napster, BitTorrent, etc. changed the internet as we knew it. I firmly believe Bitcoin has the same potential...the value of bitcoin aside, I want to take part in that potential and have invested in it because I believe in it.