albin
Active Member
It's comforting to know there's so much more to Elliot Wave than DanV always drawing an arrow down!
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I'd like to see the calculation here. Seems to me that mining power adjusts to the value of the network in the time it takes for new farms to come online (months ?) Therefore no matter what the market cap is, there will +/- be sufficient mining to support an overall breakeven.There is a thread on BCT where BurtW computed the sustainable price relative to mining power required.
He said that a $10,000 price per BTC wasn't sustainable until the 2020 halving.
So maybe a $40,000 price will required to wait the 2024 halving to be sustainable.
That sounds plausible. I have no idea about elliot wave theory, though.@molecular
Was that brief run-up to barely over $500 in Nov possibly the first bubble target that's lower than ATH that he's referring to?
As long as the vote for BU still adds hashpower to mine classic blocks then this is great. But does voting for 8mb blocks do that as well?BU doesn't dilute Classic's ability to activate AFAIK. I think it also provides BIP109 votes, so it just adds up.
It's not clear to me whether you mean voting in the sense of setting BU parameters, or registering a vote on Slush pool.But does voting for 8MB blocks do that as well