Post
Topic
Board Speculation
Re: The negative effect of mining farms
by
fr4nkthetank
on 24/10/2014, 16:43:09 UTC
This is how bitcoin slowly dies from here.  What started as a chance for everyone to generate their own bitcoins and participate in the economy now turns to a few data centers producing bitcoins thus forcing new users to purchase new bitcoins from them.  We've traded fiat currency controlled by a few central banks to bitcoin controlled by a few data centers.

Meet the new 1%.  Slightly different to the old 1%, but they're still there.

we should have a full month or two where everyone stops buying bitcoin.  everyone stops buying.
buying not allowed.

Then these guys sell to meet expenses maybe and all go bankrupt.  hopefully.