How will it impact ETC mining price when ETH goes POS?

siggiboyminersiggiboyminer Member Posts: 12
I have heard rumors that lots of miners will start mining ETC instead of ETH as Ethereum starts using Proof of Stake instead of Proof of Work (when that will happen). I guess lots of people will mine totally different stuff, but how would you expect it to impact the ETC price if it suddenly would get tons of new miners from one moment to another? What impact does the amount of miners have on the price of a given coin?

Comments

  • Ericjh801Ericjh801 Utah, USAMember Posts: 361 ✭✭
    That's are all very good questions with not so direct answers I think. Anything could happen. There's a rumor that bitmain is coming out with an ASIC ETH miner in the next few months, if that is true, then the difficulty for ETH/ETC is probably going to sky rocket and the price will go who knows where. Sorry no answers to your questions I guess.
  • siggiboyminersiggiboyminer Member Posts: 12
    The question is just simply.... will more miners "automatically" make the price go up, or can more miners actually lead to price decrease, as they all sell the coins they earn to make money, and with few buyers (as ETC isn't the most interesting coin), they will force the price to go down? Is there any overall experience on this, or can this end up going in all directions?
  • Ericjh801Ericjh801 Utah, USAMember Posts: 361 ✭✭
    I mean look at BTC. More miners, price still rises. I think a lot of all direction is the right answer.
Sign In or Register to comment.