Quote from: right wing authoritarian on June 26, 2014, 11:01:24 AM

Quote from: AZwarel on June 25, 2014, 01:12:49 PM

Quote from: Undone on June 24, 2014, 06:13:12 PM

Quote from: ajareselde on June 24, 2014, 11:39:13 AM

no matter the hashrate and diff, new coins minted per day remain the same in general.
people often think that supply is shorted with the rise of difficulty, but actualy its the same, just more spread out between miners.
more interesting thing to talk about is next halving, if that doesnt move the price way up, nothing will.

It seems that there's no use in even trying to explain this to people on this forum.

Not to mention all of the "price will follow hashrate" comments. But please, yes - all of you should go buy more coins right now because the hashrate is continually rising.

I have tried to explain the same thing. From a market (price) point of view it does not matter if 100 Ghash/sec produces that 25 BTC/block or 100 Phash/s does it. They are the same 25 BTCs,
so, no, more hashrate does not mean higher price.
It is the opposite, if price goes up, more miner turns on their machinery!

While the above is all true, it does not take into account that the market for mining gear is a significant one for the use of bit coins. So to the extent that that market is influenced by the hash rate so to will the bitcoin price. Most people understand that the bitcoin supply is not affected by the hash rate.

Cost of mining equipment has been keep going down for while. It seems we have finally hit a technology cap in term of hash/cost and hash/watt.

How events will be played out in the coming months will be interesting to watch for by stander.