Quote from: mizike29 on October 22, 2011, 03:55:32 AM

Yeah I dont understand how you miss the point of we need bitcoin to be stable and around 10 bux a bitcoin for it to work. Its not for speculators, its for mining. It costs more in electricity, a computer rig with at least one good graphics card to mine one bitcoin then what one bitcoin is worth, that is a major problem. Also the price isnt stable, so no businesses will want to risk accepting bitcoins when they could sell a shirt that cost them 10 dollars to make for 5 bitcoins at 2 dollars per bitcoin but then next week there same bitcoins they took for that shirt are only worth a dollar a bitcoin, they just lost 50 percent on there shirt sale. Nothing will ever come of this great bitcoin, cryptography system if these two things do not change. There needs to be a stable wall, between 10 to 15 dollars per bitcoin to let businesses work within the confines of the bitcoin structure and not take losses. It also needs to be around 10 bux for miners to create bitcoins and keep creating them or else it will take 3 years at 2 dollars a bitcoin just to pay off there mining computer, would make no sense. So until these things happen it will remain a toy for nerds that enjoy the concept of bitcoins, which I do love the concept and love bitcoins, they just wont work in real life. I am using 10 to 15 dollars knowing how much it cost to make a bitcoin at this point in time with what graphics card and build you would have to buy and how much it equates too. Now later on, or if you were an early adopter, that price point might be 3 to 6 dollars a bitcoin, but either way there needs to be a stable wall that makes sense for speculators, miners, and businesses. This is what were missing and doesnt exist right now that is causing bitcoin to just be a fad.

Your half right. Bitcoin needs to be stable but it sure as hell doesn't need to be $10 to $15 for miners to break even.

Maybe YOU can't produce bitcoins unless price is $10 to $15 but that is irrelevant.

" It costs more in electricity, a computer rig with at least one good graphics card to mine one bitcoin then what one bitcoin is worth, that is a major problem."

My electrical costs @ current difficulty are $1.59 per BTC. Difficulty will adjust to any pricepoint. BTC could be $20,000 and you still might not be profitable miner. The more stable prices are the less likely you will be able to mine profitably unless you have an effficient rig AND low/no energy prices.

Why? The more stable the price the less risk a miner is taking and bitcoin minting is a commodity industry. Economic theory tells us with no barriers to entry and commodity product prices will fall to barely above the cost of the most efficient producers. A miner with good efficient rig and below average energy prices (compared to bitcoin community) will eke out a small profit (maybe less than 5% of energy cost & ammortized hardware). Those with hgiher energy prices or less efficient rigs will simply be unable to compete.