I have noticed that the price goes on an up trend starting Sunday night and goes until Thursday. Then starting Friday morning the price takes a dump and the dumps seem the most strong around Saturdays. Then the whole process repeats. Anybody else notice this trend?
the market is very quit right now.
If you zoom out on the chart, you will realize that this past weeks rise actually means nothing and we are still in a down trend. For us to get out of this down trend it is going to require us to hover around the bottom for some time.
Can we just limit bitcoin mining to something only standard GPU's can do?
Or at least something everybody with a PC can have a reasonably even share in?
I loved bitcoin years ago because I used to mine myself, and even with only a little reward, it helped me understand it all. But today it is silly unless you can invest 6 figures +++.
And as we push to even faster ASICs there seems to be a trend of centralisation being set up in the bitcoin mining, where one person/group can own a large chunk of hashing power, and this is only getting worse over time.
With this added centralisation comes the added risk of malicious actors and a distrust in the very verification process that is so sound and secure.
Are we looking for a solution to this or is the consensus that it is either inevitable or not a threat?
If you want a coin that does what you describe there are tons of altcoins out there that do just that. I think it is good that there is some centralization in bitcoin mining. I am an electrical engineer and how I view it is when companies push the limits of asics design, it also pushes the limit of other technologies to follow it. If everybody could mine on there own computer then there would be no incentive to come up with more advanced technology to mine.
So far this weekend has been very uneventful. Where is the trading frenzy?