{"type":"rich","version":"1.0","author_name":"npub10tqt6wdc2neye0cxwyphtre6n5uccgur94khtqjdry9wxhrvywlq6w9uu9","author_url":"https://nostr.ae/npub10tqt6wdc2neye0cxwyphtre6n5uccgur94khtqjdry9wxhrvywlq6w9uu9","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2016-03-09\n📝 Original message:On 3/9/2016 1:30 PM, Dave Hudson via bitcoin-dev wrote:\n\u003e The hash rate has jumped up by almost 70% in the last 6 to 7 months and that implies some pretty serious investments by miners who are quite aware of the halving.\nThere are a few ways in which that information would be irrelevant:\n[1.] It is possible that miners expect to breakeven before the halving.\n[2.] It is also possible that miners earnestly believe that there will\nbe no problem -- however:\n...  [2a.] This belief may be mistaken.\n...  [2b.] Miners may be counting on Core Devs to fix any problems that\ncome up with anything, this one included.\n\nAlso, [3.] many miners believe that the price will increase around the\ntime of the halving, either for market-microstructure reasons or\nmarketing reasons. I, personally, think that the price is as likely to\ngo down as up.\n\nOn 3/9/2016 1:30 PM, Dave Hudson via bitcoin-dev wrote:\n\u003e These same miners were mining with a coin price around $250 last year so in terms of profitability I'm pretty sure that one around $400 won't be a huge concern.\nFor some miners, currently it costs $X in electricity per coin mined,\nand $400 / 2 is less than X. I do not know how representative this\ninformation is.\n\nPaul"}