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Maybe excavators continue managing their responsibility since they trust it's a wise interest in what's to come. To be specific, while the benefits are not incredible at the present time, they anticipate that the cost should ascend later on, and afterward those bitcoins they are mining currently will cost far additional later on. Or then again perhaps it's an extremely brief thing that would be trailed by certain diggers leaving and the rate will go down. In any case, I actually don't comprehend why individuals purchase costly hardware and put time and cash into the movement that will require a significant stretch of time to try and repay the expense of the apparatus and its support, while one can simply purchase BTC legitimately and sit tight for it to rise.
They won’t be investing in new machinery? But lots of miners are getting outdated. So that means that they will be buying lots of miners to replace the ones that have been outdated. I have seen news that lots of miners even had to drop because their miners are outdated and can’t continue with the mining.
The more the hash rate of Bitcoin increases, the more it’s difficult to be mining Bitcoin. They will have to be adjusting that. And as for those asking whether mining is still profitable, being profitable depends on some factors, and those are things you will have to figure out for yourself..
The more the hash rate of Bitcoin increases, the more it’s difficult to be mining Bitcoin. They will have to be adjusting that. And as for those asking whether mining is still profitable, being profitable depends on some factors, and those are things you will have to figure out for yourself..
One thing I cannot explain at the moment is that Bitcoin is having a lot of good news like some companies are buying into Bitcoin and the number of bitcoin miners increases after the halving but the price of bitcoin falls.
Hashrate increase doesn't always mean more miners, doesn't even always mean more mining gear.
The oldest gear that is still somewhat capable of mining a profit is an s9, with 14TH for 1400W, now a miner could replace 3 of those for an s19pro which instead of 42TH for 4200W would do 110 TH for 3250W.
New gear is close to 3 times more efficient, so just upgrading gear we could see a huge hash rate increase.
The ATH hash rate of mining has increased but the ATH price of bitcoin has yet to be surpassed.
The hashrate follows the price, what you see right now is gear that was ordered months ago coming online. Hash rate has zero effect on the price.
One thing I cannot explain at the moment is that Bitcoin is having a lot of good news like some companies are buying into Bitcoin and the number of bitcoin miners increases after the halving but the price of bitcoin falls. It was worse than in 2019 as growth slowed down.
Now everyone should understand that adopting bitcoin by a company/companies does not mean nothing to the price, it will still vary to the demand from the existing market. Besides, you got to inject a lot of money to move the bitcoin price. It is noticeable how the price of bitcoin is in low range, probably many of investors are enjoying on what is happening with the altcoin scene right now. The ATH hash rate of mining has increased but the ATH price of bitcoin has yet to be surpassed.
Hash rate has nothing to do with price as long as the miners don't sell. There will only be another ATH when we overcome what's the highest demand for bitcoin last 2017.ATH in 2017 is hampering bitcoin's growth, everyone already knows Bitcoin and bought it for the past 3 years for the best price. When Bitcoin rises in price, they sell for a profit, more people want an immediate profit rather than holding to win.
One thing I cannot explain at the moment is that Bitcoin is having a lot of good news like some companies are buying into Bitcoin and the number of bitcoin miners increases after the halving but the price of bitcoin falls.
Hashrate increase doesn't always mean more miners, doesn't even always mean more mining gear.
The oldest gear that is still somewhat capable of mining a profit is an s9, with 14TH for 1400W, now a miner could replace 3 of those for an s19pro which instead of 42TH for 4200W would do 110 TH for 3250W.
New gear is close to 3 times more efficient, so just upgrading gear we could see a huge hash rate increase.
The ATH hash rate of mining has increased but the ATH price of bitcoin has yet to be surpassed.
The hashrate follows the price, what you see right now is gear that was ordered months ago coming online. Hash rate has zero effect on the price.
One thing I cannot explain at the moment is that Bitcoin is having a lot of good news like some companies are buying into Bitcoin and the number of bitcoin miners increases after the halving but the price of bitcoin falls. It was worse than in 2019 as growth slowed down.
Now everyone should understand that adopting bitcoin by a company/companies does not mean nothing to the price, it will still vary to the demand from the existing market. Besides, you got to inject a lot of money to move the bitcoin price. It is noticeable how the price of bitcoin is in low range, probably many of investors are enjoying on what is happening with the altcoin scene right now. The ATH hash rate of mining has increased but the ATH price of bitcoin has yet to be surpassed.
Hash rate has nothing to do with price as long as the miners don't sell. There will only be another ATH when we overcome what's the highest demand for bitcoin last 2017.
One thing I cannot explain at the moment is that Bitcoin is having a lot of good news like some companies are buying into Bitcoin and the number of bitcoin miners increases after the halving but the price of bitcoin falls. It was worse than in 2019 as growth slowed down.
Will Bitcoin go up in the future?
The ATH hash rate of mining has increased but the ATH price of bitcoin has yet to be surpassed.
Will Bitcoin go up in the future?
The ATH hash rate of mining has increased but the ATH price of bitcoin has yet to be surpassed.
Miners keep their machines at work even during the crisis. Some did the quit but still many were still left and continue their work. Why? Because miners can still make money from mining and they are not losing the confidence that soon to come that Bitcoin will reach for another ATH and make them more profitable than this time.
The hash rate gives some insights that more activities happening this time and that pretty obvious how busy they are.
The hash rate gives some insights that more activities happening this time and that pretty obvious how busy they are.
If Bitcoin continues to exist a year from now people will start another topic about hash rate reaching all time high and again in 2022 and 2023 and so on. This is really nothing new or unexpected. Technology moves forward, new, more powerful machines are constructed, difficulty goes up, hashrate goes up. Is there anything you find strange here?
Hashrate can keep going up without moving the price, so don't expect a price ATH to follow hashrate ATH.
Exactly, the price of bitcoin has to increase with the difficulty of the hashrate. The more miners scrambled to mine each other, but the price of bitcoin did not rise, prompting them to leave to mine another cryptocurrency to ensure profits. Hashrate can keep going up without moving the price, so don't expect a price ATH to follow hashrate ATH.
If Bitcoin continues to exist a year from now people will start another topic about hash rate reaching all time high and again in 2022 and 2023 and so on. This is really nothing new or unexpected. Technology moves forward, new, more powerful machines are constructed, difficulty goes up, hashrate goes up. Is there anything you find strange here?
Hashrate can keep going up without moving the price, so don't expect a price ATH to follow hashrate ATH.
Hashrate can keep going up without moving the price, so don't expect a price ATH to follow hashrate ATH.
Having more hash rate means Bitcoin mining's still profitable resulting into more miners coming in and attacks nearly impossible to do.
wrong. bitcoin mining is always profitable at all times no matter what the price is. that is why hashrate doesn't drop to zero because if the mining stopped being profitable the miners would have stopped and it would have dropped to zero.
but the way bitcoin is designed (difficulty adjustments) combined with the fact that there are thousands of miners all around the world with a wide range of costs, the profit is always there for majority of them.
Perhaps miners keep doing their job because they believe it's a good investment into the future. Namely, while the profits are not great right now, they expect the price to rise in the future and then those bitcoins they are mining now will cost way more in the future.
And if mining wouldn't be profitable but they believe in the price rise, wouldn't they be safer with just buying coins and holding?
Miners only care about the profits on smaller time frames, why would you mine at a loss for years when you could simply buy BTC rather than dealing with all the troubles that mining involves.
the fact that Bitcoin fell in price by more than 10% and bullrun seemed to take a break, the hash rate continues to grow.
It's simply because the hash rate can't grow immediately to keep up with the prices, there a delay caused by the availability of mining gear.
If there is no mining gear on the market the even if the price doubling you won't see more than a few percent increase do mainly to older gear that can be bought only, but for the hash rate to keep up with the price you need the manufacturer to produce that ger and ship it. Thus the delay.
Also, one more thing, the hashrate is not totally a reflection of the price, in 2018 the hashrate was 13Exa, now it's 10 more, and the price is still below early 2018 levels.
Actually that is the main reason why they are increasing the more hashing power, to mine more when it's low in price, stable in price!!
When a miner is into the business he needs mine more coins when prices are less and then later in the times of ATH rates they sell to cover the cost of mining and profits.
When a miner is into the business he needs mine more coins when prices are less and then later in the times of ATH rates they sell to cover the cost of mining and profits.
It makes zero sense, again, why should he mine at a loss when he can buy coins, and on top of that invest in gear rather than in BTC ?
Honestly, these metrics like hash rate, price etc shouldn't be the primary focus in my opinion. Adoption rate is the metric that matters the most if you ask me. If adoption rates rise over time, other metrics like hash rate, price etc will definitely rise with it.
However, the volatility factor is the main reason that adoption rates of crypto like BTC are still low currently which is why the volatility factor needs to go down over time.
However, the volatility factor is the main reason that adoption rates of crypto like BTC are still low currently which is why the volatility factor needs to go down over time.
Is it though? I don't think people are mainly focusing on hash rate since most people doesn't even mine at all. Though having this kind of topic is interesting. Having more hash rate means Bitcoin mining's still profitable resulting into more miners coming in and attacks nearly impossible to do.
Honestly, these metrics like hash rate, price etc shouldn't be the primary focus in my opinion. Adoption rate is the metric that matters the most if you ask me. If adoption rates rise over time, other metrics like hash rate, price etc will definitely rise with it.
However, the volatility factor is the main reason that adoption rates of crypto like BTC are still low currently which is why the volatility factor needs to go down over time.
However, the volatility factor is the main reason that adoption rates of crypto like BTC are still low currently which is why the volatility factor needs to go down over time.
I think the changes in hash rate show that it increases more slowly especially when the price is at a high level. Because most of the miners righteously prefer mining when the price is at a lower level for not making loss. I thought that the hash rate always went parallel to the price at one time. But I learned that it doesn't work exactly like that. 
It's a good move I can say, increasing hash rate means more miners are contributing to the bitcoin mining to secure the bitcoin network. Most probably miners moving to bitcoin because of the positive and stable move of bitcoin. Miners realized its profitable than other coins since even during the global crisis still bitcoin movement is fine. On the other hand increase more the hash rate means increasing more security of the bitcoin network. If someone wants to attract on the bitcoin blockchain then they should gain at least 51% hash power which isn't possible. Because currently, miners are contributing from different countries, which means the bitcoin network always will be live & secure.
So, is mining proftiable now? New asics becoming outdated so fast
Of course it's profitable, if it wasn't profitable, the hashrate would be going down instead of up. Mining profitability is a function of Bitcoin price and operation cost, and if we assume that operation cost is kinda constant, then it means that the current price level is still very profitable to miners. They probably get really good deals on electricity, perhaps in China or near some hydroelectricity.
In light of these two considerations, i.e. the imminent halving and the price drop, the new Bitcoin hashrate’s ATH is even more surprising, despite being the result of an increase that has been going on for over a year now. In this regard, there are those who point out that this could mean a more lively interest than ever in the technology behind Bitcoin, and that the network is now growing thanks to the strength of its community and no longer largely thanks to speculation.
Short-term price movements seem to have no particular impact on the hashrate, perhaps because the miners themselves are not interested in it, focusing more instead on long-term movements.
Short-term price movements seem to have no particular impact on the hashrate, perhaps because the miners themselves are not interested in it, focusing more instead on long-term movements.
Whenever someone is planning to do mining for a considerable period (say 1-5 years), considering expected average price over the period would be better indicator of potential profits rather than the current price. I was interested in setting-up mining instruments last month so I calculated the potential profits. However, as per my calculation,
The average expected price over the mining period = $14,000 - $16,000
My break-even bitcoin price (price at which mining rewards are equal to mining cost) = $23,000
Hence, I rejected the idea. But the case is not same for every miner. If a miner is able to bring down his break-even price below the expected price over mining period, he will definitely mine even if current price is lower than the break-even price (provided he is ready to take some risk).
So, is mining proftiable now? New asics becoming outdated so fast
That's very subjective question. It maybe profitable for you but not for me at the same time. You need to calculate the fiat price at which your mining rewards will supersede your mining cost (since cost is mostly spent in fiat currency). Then compare the fiat price you calculated with the expected bitcoin price. If you expect bitcoin price to go above the calculated price then mining is profitable else not!
This is logical.
For me, it's an harbinger of a fresh hike in price to come. Maybe the new ATH isn't far from us at this moment. The miners already foresee this and are trying to pile up for the near future. It's the same way an investor buys in cheap on a coin/token he suspects will rise
For me, it's an harbinger of a fresh hike in price to come. Maybe the new ATH isn't far from us at this moment. The miners already foresee this and are trying to pile up for the near future. It's the same way an investor buys in cheap on a coin/token he suspects will rise
That's my view as well. I expect surge in hash power in next 2 months.
This is logical.
For me, it's a harbinger of a fresh hike in price to come. Maybe the new ATH isn't far from us at this moment. The miners already foresee this and are trying to pile up for the near future. It's the same way an investor buys in cheap on a coin/token he suspects will rise
For me, it's a harbinger of a fresh hike in price to come. Maybe the new ATH isn't far from us at this moment. The miners already foresee this and are trying to pile up for the near future. It's the same way an investor buys in cheap on a coin/token he suspects will rise
The more actively miners mine, the more they have confidence that bitcoin will advance to a new ATH. They bet for that by bringing in more miners.
I think the market will continue to go up again. I wonder if ETH has a higher hash rate since I heard they will release ethereum 2.0 in November.
I think the market will continue to go up again. I wonder if ETH has a higher hash rate since I heard they will release ethereum 2.0 in November.
Perhaps miners keep doing their job because they believe it's a good investment into the future. Namely, while the profits are not great right now, they expect the price to rise in the future and then those bitcoins they are mining now will cost way more in the future. Or maybe it's a very temporary thing that would be followed by some miners leaving and the rate will go down. Either way, I still don't understand why people buy expensive equipment and invest time and money into the activity that will take a while to even compensate the cost of the machinery and its maintenance, whereas one can just buy BTC directly and wait for it to rise.
Despite the fact that Bitcoin fell in price by more than 10% and bullrun seemed to take a break, the hash rate continues to grow.
Actually that is the main reason why they are increasing the more hashing power, to mine more when it's low in price, stable in price!!
When a miner is into the business he needs mine more coins when prices are less and then later in the times of ATH rates they sell to cover the cost of mining and profits. This increases the marginal pattern and helps them recover the mining investment on faster basis.
Im just having small rig but I know how hard it is to count for such times. Adding just single ASIC in such times can lead to vast differences. May be not for solo miner but surely for big fish farmers.
So, is mining proftiable now? New asics becoming outdated so fast
As the hash rate generated by miners is increasing, the mining difficulty will be increasing so that bitcoin mining reward will still be 10 minutes on average, this is corrected in every two weeks in accordance to the hash rate generated by miners. This have effect on the mining reward but with the increasing bitcoin price, miners still find it good to mine bitcoin as always. Do your calculation, find out if bitcoin mining is profitable in your area, check what will be the reward for you in certain time range, check the electricity cost in your area. Know that mining is not for everyone. If the calculation does not favour you, then do not mine bitcoin. But there are many miners profiting from bitcoin mining, that is why the hash rate is increasing, so commenting asics are getting outdated so fast is wrong. Just do your calculation to know if it favours you or not in your location.
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