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Why didn't people sell before the merge? Did they think it wouldn't happen?
by bagels 4y ago
Why didn't people sell before the merge? Did they think it wouldn't happen?
- miragecraft 4y agoBecause they want to mine until the last second, supposedly there will be a lot less ETH being generated after the merge so each one will be worth more.
- datalopers 4y ago> supposedly there will be a lot less ETH being generated after the merge so each one will be worth more This has been hands-down the most ignorant view of the ETH-merge proponents. The floor of the currency is tied to the cost to mine. There's minimal cost to mine now. The price will fall. It's not a supply vs demand problem.
- DennisP 4y ago> The floor of the currency is tied to the cost to mine. This is not true because of difficulty adjustment. If the price drops enough so miners are losing money, some of them quit, the difficulty adjusts downward, and the economics improve for the remaining miners.
- epolanski 4y ago"worth" depends on price.
- joecot 4y agoGiven that crypto miners weren't willing to think ahead to the consequences of countries needing to fire coal power plants back up to meet their demand, or the problems with continuing to crypto mine during multiple worldwide energy crises, I am not surprised if they didn't think ahead to what would happen if the Ethereum merge happened exactly as planned.