4 ms·
I’ve never understood the commonly held view that miners can effect the price. The distribution of coins is on a fixed schedule it shouldn’t matter how many min
by matthewbauer 8y ago
I’ve never understood the commonly held view that miners can effect the price. The distribution of coins is on a fixed schedule it shouldn’t matter how many miners there are. Price should not change from any of that.
- millettjon 8y agoThis may be more related to rapid liquidation of holdings which does affect the short term. Long term it should average out.
- deleted 8y ago[deleted]
- dragonwriter 8y ago> The distribution of coins is on a fixed schedule No, it's not. The distribution of coins is affected in the short term by the actions of miners; it has periodic difficulty adjustments to intended to target a fixed long-term rate, but it is not a fixed schedule.
- solveit 8y agoMore important than the change in newly minted coins is the fact that the miners (in this atypical case) are selling btc for fiat to buy energy to outmine their competition.