Quote from: Khaos77 on January 08, 2020, 02:36:37 PM

Quote from: DannyHamilton on January 08, 2020, 02:24:39 PM

See, I KNOW for a FACT that bitcoin will NEVER drop below an exchange rate of 100 BTC per $0.01. I KNOW this because, at that price I will buy every bitcoin I can find. This creates a permanent floor at that exchange rate, and creates a scarcity such that if ANYONE else wants ANY bitcoins at all, they'll have to pay AT LEAST that much. I'm pretty confident that there are others with more resources that are willing to do the same at a higher exchange rate. Therefore, there will be competition for the scarce bitcoins, and the price WILL eventually rise again.

The majority of greater fools can buy a large chunk of bitcoin at $0.01 ,
but can you afford the hashrate to keep running it securely.
Answer there is no.

Cool

FYI:
Miners can't survive a month at $1000 per bitcoin, $.01 is laughable.
At the next halving , watch how many miners declare bankruptcy at over $7000 per bitcoin, and now you see the failure of the PoW design.

Quote from: philipma1957 on January 08, 2020, 02:34:39 PM

which worst case means diff wait of 13 or 14 days will stretch to only 25 - 30 days.

You are assuming that bitcoin has excess transaction capacity, and we all know that to be false.
Transaction fees would skyrocket to $100 in the frantic cash out that would occur and the price per coins dives lower.
The majority of users would have their money frozen by excessive fees, odds are the network dies before they could even withdraw it.

Then every miner there is outside of china would be making a fortune in fees.

you are picking a strength showing you don't understand pow 's weakness.

The weakness has zero to do with high fees.

The weakness is block reward to tx fee to price of coin ratio

ie if a block reward is 50 coins to .5 btc in tx rewards price of coin is not too important.

but when you get to 3.125 coins to 1btc tx reward the system has issues.

My opinion is 7-10 year 1/2 ing times would have been better then 4-5 year 1/2ing.

we are in for a rough ride on pow in 2028-2029.

1/2 ings are scheduled events not ifs.
and the 50 coin to 0.1- 0.5 tx ratio
dropped to 25 coin to .05- .07 tx ratio
dropped to 12.5 coin to 0.07 - 0.09 tax ratio
drops to 6.25 to ? tx id

i see problems below
drops to 3.125 to ? tx id
drops to 1.5625 to ? tx id

long term btc price growth could save the day for miners down the road.

5nm mining gear is 20% better maybe 30%
3nm mining gear is 20% better maybe 30%

some bigger companies will build large solar arrays that last 20-30 years.

but it all points to an issue of BTC down the road. will it continue to support mining.