Nash Foster Quoted In Blockpublisher
“I think there are very serious problems for bitcoin right now. Bitmain posted over half a billion dollars in losses in their most recent financials. If miners aren’t making any money, we’re going to see the hashrate drop, which could make 51% attacks possible. We’ve already seen some of the smaller chains suffer from this. If the security of the network and the miner’s ability to generate cash flow are both imperiled, then there is really a limited incentive for end users to buy in. And that means we won’t have the capital flows necessary to support a $5,000 price. I can see BTC dropping well below the $3000 level if things continue as they have been.” – Nash Foster, Chief Executive Officer Pyrofex.