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Showing 2 of 2 results by Pajeu
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Board Development & Technical Discussion
Re: Difficulty vis-a-vis less hashing power.
by
Pajeu
on 11/03/2014, 18:00:52 UTC
Thanks.

I was wondering what could happen if all the Bitcoins stolen from Mt. Gox hit the market. Since the amount that vanished (I read it was close to half a billion USD) is quite large, the selling pressure is considerable. I´m surprised BTC USD exchange rate did not collapse even more. I do not own BTC, but if this move happens and the value drops to less than 100 USD or less, then this could be a very nice entry point. Not so sure if difficulty would fall as much so that mining could be a profitable proposition...
Post
Topic
Board Development & Technical Discussion
Topic OP
Difficulty vis-a-vis less hashing power.
by
Pajeu
on 11/03/2014, 17:39:52 UTC
Hi.

Quick question from someone new to this universe. If the exchange rate BTC USD falls to say, 1BTC = 10 USD, presumably some people already in the BitCoin ecosystem would give up adding hash power, maybe even pull out of the whole enterprise. In this case of less hashing power at the margin, what would happen to the rate of increase of the difficulty? I think the difficulty number itself would not fall, but I´m not sure.

Thanks.