Post
Topic
Board Mining (Altcoins)
Re: Swedish ASIC miner company kncminer.com
by
zerk89
on 02/03/2014, 14:04:06 UTC
So basically we are emulating the gold rush, the cost of gold is determined by how much the producers of it are willing to part with for their time mining it minus expenses, mining it happens because it is naturally scarce in nature, there would be no reason to mine it if it wasn't scarce. The centralized data centers are not going to sell Bitcoins to you at a loss. And with all this hash power being nessecary to accomodate such a network for all of the planet (the network is so small right now), once all of it comes online difficulty is going to sky rocket and therefore the amount of BTC produced by said data centers will be much less. Thus meaning each BTC will have to become worth more over time to accommodate the costs in producing and keeping these huge data centers online. If they are not happy with the current prices then they are just going to sit on the Bitcoins that they have mined. Or they can take a two layer approach like how they are doing now and still sell consumer miners, but time it right so that they get delivered where they won't meet a ROI, this way they are able to increase the price of a BTC by creating less supply from retail miners as they won't sell at those prices to see a profit (think $38 million worth of hardware in one batch being shipped out, don't underestimate it). With an increased cost of expense (non centralised mining is more costly, retail electricity prices etc). this is guaranteed to happen. Either way the price is only going to go up and up, the price spike we are going to see in 1st-10th of June 2014 is what is going to smash psychological barriers as it will be in the several thousands (I predict 7k-9k peak), and the perception of Bitcoin worldwide and will be splattered across every media channel across the globe (except Russia hue). Gas pedal, Gas pedal, you should be all welcoming the increased network hashpower, bring it on. There is nothing left for us peons to do but buy BTC. Gold will become a tenth of its worth or worthless when Bitcoin becomes mainstream, services so that Bitcoin can become viable for mainstream use will be built by those willing to reap the rewards for doing so, and this is already in motion now. I can't help but feel this is a globalist plan from the start, and this is a way for all the main super powers in the world to default on their huge debts in the end (the globalists are behind these countries right now any ways, knc is likely just a seed organisation for them, NSA scientist invented Bitcoin breowz run at me), have a monopoly on the entire planet, and once this is achieved they can see their agendas fufilled with whatever they have planned for the human race, maybe the "globalists/illuminati" know better and are good people who envision what needs to happen on the planet to advance the human race further, maybe they are evil. Who knows in the end?