Quote from: joeventura on April 03, 2014, 07:23:18 PM

Quote from: wpgdeez on April 03, 2014, 01:23:29 PM

Quote from: ImI on April 03, 2014, 11:34:27 AM

Quote from: joeventura on April 03, 2014, 10:50:10 AM

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.

Difficulty will be at 6 billion (that's 6,000,000,000) next week.

That's a loooooooong way to fall from.

Too many idiots bought hardware that will never ROI to think that they're accutely aware of what their earnings are comparative to their overhead. They may also keep mining at a loss today on speculation that BTC will be worth more tomorrow. Knowing what you know now, would you have quit mining at a loss when bitcoin reward halved? If you took the risk of mining anyways, that would have been very profitable looking at how things played out.