Post
Topic
Board Speculation
Re: will the cost of mining affect the bitcoin price ?
by
onlyu
on 23/08/2014, 18:56:01 UTC
Mining difficulty follows price, not the other way around.

If too many miners drop out, the difficulty automatically adjusts so that the block interval is still about the same.

It is elegant in that the more Bitcoin is worth, the more resources are put into protecting it.


That is the reason it is cheaper to buy coin directly rather than mining.

If one is right about direction of price, the same amount of money benefit more by buying coin than buying miner.