BTC goes to $10 and NO ONE can afford to mine because the difficulty is 5 billion
logical error.
if NO ONE can afford to mine, why should the difficulty stay at 5 billion?
if NO ONE can afford to mine, no one WILL mine. and if no one will mine difficulty goes down to 1.
logic ftw my friend.
And how long is that difficulty going to take to drop if it is at 5 billion and 75% off the hashrate disappears. Going to take a long time to the next retarget.
no worries. Will never happen
People will mine at a loss for months before giving up
A good example will be when Titan arrives... watch how long it takes GPU users to unplug....
Also... New exchanges are popping up like daisies... PayPal launching a multi crypto wallet... Election time coming... BTC hedge funds are hitting Wall-street... BitCoin ATM's are delivering... Wells Fargo is preparing to enter the game... and USA just issued tax guidelines(arguably a HUGE BONUS, and obviously needs tweaked)... and
once small businesses figure out they don't even have to own a single coin to "accept them".... and save up to 5% on their bottom line; adaptation will grow rapidly. Same goes for consumers, especially on large international purchases. Think what will happen when Isreal, Iran, or any oil country accepts
coin for oil! It will happen. ... and this time around, no Henry Kissinger to convince oil countries to use USD.
This whole "Armageddon of doom" hype is nothing more than growing pains. It will pass, and BTC will eventually be worth thousands per coin.