Post
Topic
Board Mining
Re: Did the MysteryMiner (MM) keep his coins?
by
zerk89
on 23/02/2014, 11:06:44 UTC
This is called hoarding a large portion of the minted coins and holding on them to drive the price of BTC up, whoever wants to see BTC suceed is doing this. KnC is doing it today with their datacentres, they mine months before with their "new hardware", they never take it offline either. They sit on all the coins they mined, a few months later they manufacture the same amount of hash power that they have in their data center with the same tech, and ship it out to everyone else at a set price. As soon as retail miners receive them it's easy to see that they won't ROI, KnC knows this aswell as they control most of the network either way. After all the batches arrive to customers (38 million $ worth for neptunes right now), no ROI in sight = miners hoard coins, as KnC has also hoarded all coins for months before with no intention of selling, artificial scarcity happens, retail miners hold their coins and the price drives up on the exchanges. If these big mining manufacturers wanted to crash the market, they could right now. Do you seriously think that there is 7-11 billion dollars sustaining the current bitcoin price? Hell no. Probably 10-100 million. KnC has a kill switch, questions to ask yourself - 1) Do they want Bitcoin to succeed? 2) What are their real motives? Is it just to sell hardware? That mystery miner in 2011 held all the coins it mined, that's what caused the price spike shortly after.

Satoshi = KnC?