ASIC mining? | Bitcointalksearch.org

Gator-hex

hero member

Activity: 490

Merit: 500

Quote

what happens to Bitcoin if mining becomes unprofitable? will it collapse or what?

The same thing that happens when physical mining or farming becomes unprofitable.

ANSWER: The least efficient go out of business. There is a shortage of supply. Then the price of the commodity rises.

Viperbass

full member

Activity: 210

Merit: 100

The Hash strengths can actually decrease but everyone will still keep running there miners to try make back as much of the losses as possible so I see it increasing a lot esp the beginning of next year.

To answer your question aslong as the demand is there and more companies are willing to accept bitcoins it can only go up.

mota966

newbie

Activity: 25

Merit: 0

what happens to Bitcoin if mining becomes unprofitable? will it collapse or what?

mota966

newbie

Activity: 25

Merit: 0

Quote from: Viperbass on November 07, 2013, 03:59:22 PM

Hey Mota,

Have done some calculations on 30% on 2 of the best miners in the below thread.

https://bitcointalksearch.org/topic/mining-vs-holding-btc-for-profits-327335

At the moment it seems all miners will end up costing you money unless the bitcoin prices skyrocket even more from there current levels.

Cloud mining will cause greater losses.

Lets say you get 50GH/s at $20 - $1040 (with electical costs added)

At 30% difficulty increases and price staying the same you will lose half your money at current bitcoin prices.

I actually do feel sorry for people that have rushed into mining, I would say the best way to go if you feel bitcoin prices are going to increase is to hold BTC.

Thanks mate

deadlyninja

newbie

Activity: 6

Merit: 0

I would think it would be hard for an asic miner to become unprofitable since the price of bitcoin will rise with the difficulty. However it does seem like just holding bitcoins could be more profitable.

Viperbass

full member

Activity: 210

Merit: 100

Hey Mota,

Have done some calculations on 30% on 2 of the best miners in the below thread.

https://bitcointalksearch.org/topic/mining-vs-holding-btc-for-profits-327335

At the moment it seems all miners will end up costing you money unless the bitcoin prices skyrocket even more from there current levels.

Cloud mining will cause greater losses.

Lets say you get 50GH/s at $20 - $1040 (with electical costs added)

At 30% difficulty increases and price staying the same you will lose half your money at current bitcoin prices.

I actually do feel sorry for people that have rushed into mining, I would say the best way to go if you feel bitcoin prices are going to increase is to hold BTC.

mota966

newbie

Activity: 25

Merit: 0

The difficulty is rising rapidly! For example today each 1000 MH/s is going to yield $0.30
Let us know your thoughts on this

Topic: ASIC mining? (Read 533 times)