Topic: [2017-11-12] Analyst: “In 4 years BTC mining won’t be profitable anymore” - page 2. (Read 11215 times)
November 12, 2017, 04:19:33 PM
Thats a good question we will see.
November 12, 2017, 11:02:43 AM
another pro analyst has spoken
bitcoin mining will be profitable ALWAYS
since the network depends on the amount of people mining,if there are no miners,the coin will die
and even if after the halvings,the block reward is too small the block fees are going to be the main reason people mine
so get your facts straight,analysts,the price of electricity will remain roughly the same,maybe even lower than today
since we do not know what sources of energy will be disovered and the price of one bitcoin may as well be in the 100.000$ area
who knows? people laughed when it was 0.20$ at those who were buying bitcoin en masse
bitcoin mining will be profitable ALWAYS
since the network depends on the amount of people mining,if there are no miners,the coin will die
and even if after the halvings,the block reward is too small the block fees are going to be the main reason people mine
so get your facts straight,analysts,the price of electricity will remain roughly the same,maybe even lower than today
since we do not know what sources of energy will be disovered and the price of one bitcoin may as well be in the 100.000$ area
who knows? people laughed when it was 0.20$ at those who were buying bitcoin en masse
November 12, 2017, 10:51:14 AM
Um, does he not realise that the profitability is constantly adjusting and will balance itself out? If it's too expensive then miners fall away until it attracts miners again.
It would be nice to see an alternative to PoW that does the job though. There'll come a point where comparing the electricity consumed by the banking world won't cut it any more.
It would be nice to see an alternative to PoW that does the job though. There'll come a point where comparing the electricity consumed by the banking world won't cut it any more.
Um, do you realise that this is a completely pointless observation?
The reason why proof of work secures the Bitcoin network is because of the "work" part
You're essentially asking for something for nothing, security for zero effort. You may as well fantasize about time machines or anti-gravity boots.So the "using too much electricity" rhetoric is no different to saying "Bitcoin is too secure". What exactly do you people want, insecure money?
November 12, 2017, 09:36:59 AM
Um, does he not realise that the profitability is constantly adjusting and will balance itself out? If it's too expensive then miners fall away until it attracts miners again.
It would be nice to see an alternative to PoW that does the job though. There'll come a point where comparing the electricity consumed by the banking world won't cut it any more.
It would be nice to see an alternative to PoW that does the job though. There'll come a point where comparing the electricity consumed by the banking world won't cut it any more.
November 12, 2017, 08:14:54 AM
Really this problem needs to be solved. This month, we saw that they can make miners with bitcoin. We are all connected to one circuit and therefore is a common problem. To increase the value of the transaction to infinity is impossible. It is possible to increase the size of the block is the only way. When there will be a trade with bitcoin the number of transactions will increase several times and then what?
November 12, 2017, 07:42:46 AM
I think in our country form last year itself it was not suitable as far as profitability of mining the btc was concerned. Electricity cost and equipment costs kill the profits and thus people nowadays probably are mining the altcoins. But people in starting who were involved in btc mining have actually made the tremendous money.
November 12, 2017, 07:24:53 AM
The analyst believes that the community will find other ways of expanding, possibly leading to the change of proof-of-work algorithm, as the most energy-intensive part.
Even now mining is not so profitable anymore, in the case if it is private one; only mining farms can earn something really worthy, but how many costs they had to organize the farm, it's a really huge money. I used to belive to experts and analysts - people will create something new which will continue to bring profit. November 12, 2017, 07:08:53 AM
According to Christopher Chapman, an analyst at Citigroup Inc, that might not be a bubble problem or fork which would eventually kill bitcoin, but the staggering energy costs associated with mining of the digital gold.
As Citigroup report states, the price of bitcoin required for mining to stay profitable in 2022 stands at $300 000 — according to the calculations, current growth trends, and electricity use. The amount of power consumed in the process of emission by that time would be enough for the whole Japan...https://en.bitnovosti.com/2017/11/10/analyst-in-4-years-btc-mining-wont-be-profitable-anymore/
As Citigroup report states, the price of bitcoin required for mining to stay profitable in 2022 stands at $300 000 — according to the calculations, current growth trends, and electricity use. The amount of power consumed in the process of emission by that time would be enough for the whole Japan...https://en.bitnovosti.com/2017/11/10/analyst-in-4-years-btc-mining-wont-be-profitable-anymore/
Jump to: