Quote from: mikeywith on March 09, 2020, 03:48:17 PM

By the way, I still remember our discussion and how you overlooked the importance of China, there you have it now, everything is collapsing because when China coughs the world MUST listen and cough along.

Yup, and since the Wuhan quarantine which happened in January nothing really that bad happened to the markets, and China is actually recovering right now! When did the shit hit the fan? On the last days when Europe was hit and the whole Lombardy was sealed up! And be fair, I was talking on the effect on Bitcoin, with the price being driven by the purchasing power, remember? Not the whole economy! Grin

Anyhow /let's not derail this, we're in Frodo's territory here Grin

Quote from: mikeywith on March 09, 2020, 03:48:17 PM

in fact, if anything hash rate should actually collapse and not rise, with all the mess going on, bitcoin mining is at even at worse place than everything else, the mining rewards are due to be cut in half and yet these newbies keep on adding gears to the network. Undecided

Yeah, that would be logical, but also we don't know for sure how this rate is growing right now. It could be a lot of newbies, but I wouldn't be surprised it could simply be that farms are refitting their miners, it is also possible that bitmain has shipped a lot of new gear well before telling us they have a new miner, there might be some deals like that with other manufacturers also.

Yeah, a lot of newbies might be buying cloud contracts, but it's still 7%, that's a lot of gear that was already produced, and you don't just make those blindly..I think..assume..god knows really, that's why we're in speculation here.

One thing is clear, no matter what the current difficulty says in the first days, it's almost impossible for the grow to just stop now, the difficulty estimator went continuously up, 2% 4%, ended with 7%, and it is not going to stop unless something really bad happens, and that's one of my greatest fears. Thousands and thousands of miners that are thrown away or sold at price pe kg not hashrate.