Post
Topic
Board Bitcoin Discussion
Re: At what pricepoint is bitcoin dead?
by
Rassah
on 21/10/2011, 14:19:12 UTC


ONCE AGAIN AND A LITTLE SLOWER .... (sorry no pictures)

mining $2 per BTC @ 1M difficulty is the same as mining $20 per BTC @ 10M difficulty.

You have a point on VOLATILITY but that isn't the same as saying BTC is dead @ $2.00 or $x.00.   The best thing ever for BTC in the short term would be for it to hit $2.00 and VOLATILITY collapse.  That would massively increase adoption.   BTC @ $2.00 w/ 1% daily volatilty is better for everyone except specualtors.  BTC @ $20.00 w/ 30% daily volatility only benefits speculators.  Yes you can mine and profit less @ $20 BTC than @ $2.00 BTC.

You say again like that's what you said the first time...

Slowly for you:

Mining $2 per BTC @ 1.7M difficulty is like scouring the roadside for aluminum cans to return, except imagine every day the cans are worth a little less.

INFLATION

Thanks to continuing drops in difficulty, it's like finding cans that are worth less, but finding more and more of them every day.