What happens to Bitcoin when someone scales a fence at one of these three Chinese mining pools and cuts the power?
>Muh decentralization
Someone is going to make big cash off a big short one day soon. When are plebs going to wake up to the fact it's not a good store of value or a good currency and it's not decentralized?
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Good luck trying to pay for the fees invovled in a short
If they cut power then the difficulty will automatically lower and more people will be able to afford to mine it. Not like that's going to happen though. Plus we all know the Chinese century is upon us. Hail China.
Btc futures coming out on monday, some investment bank is going to make a killing on this
Doesn't lower immediately you'll have a couple weeks where nothing will get through
completely agree, however for the average joe its gonna be expensive to foot a future
average joe isn't going to profit from this huge billion dollar funds will
你需要學中文啊!
how get bitcoin?
Do you have to sign up on coinbase.com?
The bitcoin software said i need to download "block chain size (over 145GB)".
>mining pool gets cut off
>clear market incentive between its market price and the hashrate
>exploit this and profit
ez
game
yes please sign up with my referral code coinbase dot cum / join / 5a09k1lln1gg3r5asbkxc9s
>again, doesn't understand the intentionally built market incentive between bitcoins market price and its hashrate
The hashrate (aka mining rate of bitcoin) increases in direct proportion to its market price.
Market price was roughly 4k back in August. It was roughly 4k to mine one Bitcoin. The market price is now 13k. It now costs roughly 13k to mine one Bitcoin. Any deviation from this is a MARKET INCENTIVE for miners to exploit, which in turn also secures the network.
Why do you care so much about an activity only 0.05% of the world's population is involved in?
Oh right, its because you missed the boat and you're poor
Sorry bud
You've missed the boat. Buying coin now is suicide. The crash is imminent.
I feel sorry for you when you think being in btc is "the boat"
If a mining pool leaves it takes time for the difficulty to adjust, about 2 weeks.
So if one goes offline or leaves for another coin btc will become a lot slower than 2 day xfers
If by "in" you mean having lots of crypto, yes I'm in
But I'm confused... why would you feel sorry for somebody playing with house money?
Stay poor bud
Isn't it a good time to buy after it crashes? It will come back even stronger.
>14x returns in crypto space
>the boat
pick one
kek
Lol
I've encountered a post by a Greek radical autisto that believes in a big future of national crypto-currencies, like that proposed by Venezuela.
Russia plans to restrict Bitcoin operations, true, but they simultaneously launched some fucking "CryptoRuble" backed by our natural resources - and the Greek is ecstatic about it. Greece should do the same! And Italy! And Ireland!
Everyone can launch a coin but how do they inter-op?
Interledger Protocol is set to become a w3c standard and its built by Ripple.
it doubled in 15 days
you could all have made a killing
If those 3 pools died overnight everyone would be getting 75% more bitcoin.
That would be fucking awesome.
Bitcoin would become profitable for small miners again. Rather then needing to buy a $4000 unit just to hash at a rate where you'd make profit.
do you withdraw what you cant afford to lose?
remember it could all vanish one morning
well if you power your mine with solar power it can help i guess
>get a mine powered normally
>invest profits in solar power
>keep mining and investing
>shitcoin crashes
>you now have a big private solar power plant
I dunno, due to volatility, it's still possible to make bitcoin in bearish conditions.
I do have to set limit orders like crazy though. Drives me nuts.
Gold Master Race.
I remember a few years back during the first peak of Fagcoin people were opening mining facilities in Moses Lake, Washington for the dirt cheap super low priced electricity.
The feds shut every single one down.
>Bbbubut muh currency of freedom
It's all a ponzi scheme manufactured by Chinese globalists with every controlled Market and Policing organization knowing the truth.
Enjoy your ((((investment)))) though. Think about this would J.P. Morgan Chase allow someone to outdo their centurylong work for some gookcoin?
You would still have to drop like 6k to get this going at a rate where you actually make money in a reasonable amount of time.
Soon OP and all faggots like him will be working for me and I'll pay them 1 Satoshi a year and call them cucks.
Buy LTC and ETH
spend btc
>babbys first bubble understand (((markets))) better than (((those))) who (((created))) them