Im thinking that whenever news is released that they move 100% hashrate to P2P pool the price shoots back to .005
Why? PETA is already extremely overvalued.
Well, if you look to CEX.io GH/s price it is not...
Exactly, but cex is a whole other story. I have a feeling that the price is being propped up by the people behind cex. They have said that they release new ghs onto the market they do it in a way to not affect the price. They are making a shitton of money, they are run by bitfury so their cost for hardware is nothing compared to the market rate. if they are able to produce hardware at say 25c/ghs and they are selling it .0048 I think was the last price I saw, thats over 2.5$/GHS profit, an 800% markup.
Comparing one overvalued asset against another doesn't change the facts.
Bahhhh What???? How did I change the facts. If you look closely at almost everything I post I go straight down the middle laying out facts and trying to not sound like I fall on either side of the fence.
To sum up both of my posts in a way that might be easier to understand.
ALL valuations on any asset are whatever a person is willing to pay. If I am extremely thirsty and am willing to pay 5$ for a bottle of water, than at that moment in time that bottle of water is worth 5$ to ME. Peta in my opinion is not extremely overvalued, its sitting at maybe 25% over where it should be. In either case of peta of or cex, you will pay a premium over buying your own hardware. When your purchasing GHS in this scenario, (A perpetually paying asset) you are not purchasing the hardware, your asset is more abstract, if some of the hardware dies and gets replaced, your ghs still remains, if you purchased your own hardware and it goes down, your SOL.