

Ask HN: Why is Bitcoin price increasing? - howon92


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byoung2
Supply and demand. Bitcoin used to be a niche, only followed by a few hackers
and enthusiasts (low demand). At the same time, by design, mining was easier
(high supply). Now Bitcoin is becoming more mainstream, and even the skeptics
are starting to buy in, both literally and figuratively (increasing demand),
at the same time that mining is becoming harder (decreasing supply). As
Bitcoin gets wider acceptance, and as mining gets more difficult, the price
will continue to rise, until it reaches a plateau.

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howon92
Is it possible to predict the increasing rate of difficulty?

~~~
sidko
You can gain a rough estimate based on the delivery schedules of ASICs in the
market. You can calculate the pre-orders placed for xGH/s and multiply that by
how many were pre-ordered. This should give a rough estimate of how much hash-
power will be added in the future.

Current market situation - it's definitely going up.

