Bitcoin Falls Below $400
Is anyone tracking how much money miners are pulling out of bitcoin on a daily basis? I assume they have to sell some fraction of their earnings in order to pay for hardware and power. This should create a constant downward pressure on the price, since there always has to be new money flowing into the system, but very few people "need" to buy bitcoin in the way that miners "need" to sell (most buying is for speculative purposes).This is almost the opposite of public companies, which rarely issue new shares, and have a constant buy pressure coming from 401k plans and other automatic investment vehicles.