If I was a rich man and could put a decent wager behind a bet I have, I probably would rake in a nice profit..
I've started to believe the whole BitCoin world was taken over by Central Bankers long ago when they thought it might disrupt their banking cartel.
I seriously doubt that there's that much mining hardware coming online every 12 days that the difficulty jumps up anywhere from 7% to 20%.
That's bullshit!!
How's that happening?? NSA super computers being used to pump up the mining threshold??
I'm mining at 1.5THS and barely making $13 a day... 8 months ago I would have been making over $100 at that hashing power.. Talk about diminishing returns..
If I wanted to make $100 a day today, I'd have to be over 10THS, which I'd have to throw in another $20K in mining contracts. And that would only get up to $100 a day
for about 2 weeks before the fucking difficulty jumped up again..
And since BitCoin is tied to fiat currency, I'm guessing the reason it's down to $480 is because the fucking US dollar has somehow gained in value?!?!? Not in my opinion.. Try going to the grocery store and getting out of the store with 1/5th filled basket without blowing $100.
What happened to the idea that the more BitCoin was accepted by retailers that it would gain in value?? Not from what I'm seeing.. It should be up over $2000 a BTC..
And those of us who have invested tens of thousands in mining would actually be making some good money in return...
Lol you have just answered your question, those who raked in larg profits from mining ealy in the game i.e the BTC millionares , the KNC,s BITMAINs basically the whales instead of investing in the BTC ecosystem I.e creating stores and retail opportuninites centered around bitcoins choose to just dump more and more fiat into hardware for mining.
then they turn around and dump those BTC they mine on the fiat market by the 100s a day why the hell would BTC rise ? Eventually if things don't change BTC could go to a point where no one can afford to mine anymore and either these whales will do the right thing and invest in the eco system or BTC will die.
It could be that there are whales in the background working on some services and things like I have discussed in the background and release them in the next few months similar to what GAW did with hashlet.