Just a couple of thoughts on the short term effects of this crazy (in a positive way) increase of Peercoin hash rate and the consequences that could have on the price.
With this spike in hash rate it is possible that we actually see a big dump as soon as the major miners reach a certain amount of PPC and want to exchange before a rebound of BTC.
Would be an interesting test bench for the newborn NuBits when this happens and to see the system it have at work.
What is your idea on the effects on price in the medium term for this huge increase of hash rate?
Traditionally we have seen the effects of some big mining rigs redirecting their hash power as soon as there is a decline in price creating a domino effect on price.
This could happen very quickly and maybe NuBits, won’t be enough to sustain the price that PPC deserves.
Why don’t we use this opportunity to actually promote actively to merchants PPC as their currency side by side with BTC?
This could promote PPC to where it belongs, as a top cryptocurrency, and help to achieve a major step towards a wider use of Peercoin and to stabilize the price redistributing in as many hands as possible the coins.
In my opinion, this is the primary effect of hash rate increases: Hash rate up -> Mining difficulty up -> POW block reward down -> Inflation down -> Supply projections down -> Price up -> Hash rate up.
I doubt that major miners think in this manner, unless they are also major speculators.