Hi,
I think that in most Western countries, it is currently unprofitale to mine if you do it on your own. Electricity prices are already too high.
This is why currently mining is mostly the business of compagnies, using the own appliances and power. That's quite logical.
At some point, though, mining will come to an end. At that moment, for the compagnies which had invested in it, their furniture ought better to be written off. And at that moment, for sure, bitcoin and its community will face an unprecedented situation!
Topic: At what point does mining stop? (Read 305 times)
There ar solely twenty one million Bitcoins accessible for mining. Once all of these Bitcoins are strip-mined, no additional new Bitcoins can ever be created. This stands in stark distinction to national currencies, that ar perpetually increasing. Governments wish to encourage inflation, in order that they usually increase the money provide. This ends up in the devaluing of currencies, however, and in follow, it will cut back the wealth control by people and families.
If the block has passed validation, the transactions are considered approved. By this time the fresh block has already reached each customer and is added to the chain.
In this respect, your key is similar to a password that allows you to access your money. The main difference is that you can not reset it, like a password, if you lose or forget it.
With the price plummeting I am wondering at what price will Bitcoin not be profitable to mine anymore? What is the break-even point?
What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
silly, bitcoin will not die. the market becomes very low it is commonplace in the trade.
to avoid what you feel, you have to find ways to fend off every confusing situation. even you can invest in bitcoin to cover your losses on the first investment.
for now the miners will not stop, they certainly have a way to minimize losses.
and I'm sure, even though bitcoin prices are plummeting as they do today, they can still benefit from mining.
they will stop mining if bitcoin has run out. and nothing else can be mining
Although their profit may decreased as new minors have installed their setup and because of the decreasing number of bitcoin left to mine, but still they will continue mining because they have invested a big amount of money for mining setup, that is also a fact that they will use different method to minimize their electricity cost. and I'm sure, even though bitcoin prices are plummeting as they do today, they can still benefit from mining.
they will stop mining if bitcoin has run out. and nothing else can be mining
With the price plummeting I am wondering at what price will Bitcoin not be profitable to mine anymore? What is the break-even point?
What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
I think the time that bitcoin will never ever be profitable by mining is when the bill prices will exceed its natural point which you are just wasting your money and time due to that you are spending more on your electricity than earning. Breakpoint has many possibilities and you can think any possibility, pulling your plug will not do anything because bitcoin will still be running and many people are still going to try mine even tho the price is really really low. So don't expect BTC will dead, BTC is not based on how many people are mining its about how people invest with bitcoin.
It will never stop because people will find a way to have passive income one way or the other. It would sometimes give you small income because of the duffuculty but most of the miners including myself are playing it for a long game, just accumulating crypto and waiting for the next bull run to push my coins to new all time high.
With the price plummeting I am wondering at what price will Bitcoin not be profitable to mine anymore?
It's not profitable if you just have few ASICs in your home, mining is a big business which require lots of resource and capital to get started.
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What is the break-even point?
There is no specific amount for everyone, it's depends on how much you have invested, electricity costs and bitcoin price.
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What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
Miners will stay for months without profit, maybe 3-6 months or at least a year for a big player. If mining doesn't cover electricity costs, new miners will suffer under a huge losses. But for some miners, it's a natural selection to get rid of incompetent miners and the rest will get more bitcoin.
Bitcoin will never die, not until the nuclear war takes place.
With the price plummeting I am wondering at what price will Bitcoin not be profitable to mine anymore?
It's not profitable if you just have few ASICs in your home, mining is a big business which require lots of resource and capital to get started.
Quote
What is the break-even point?
There is no specific amount for everyone, it's depends on how much you have invested, electricity costs and bitcoin price.
Quote
What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
Miners will stay for months without profit, maybe 3-6 months or at least a year for a big player. If mining doesn't cover electricity costs, new miners will suffer under a huge losses. But for some miners, it's a natural selection to get rid of incompetent miners and the rest will get more bitcoin.
Bitcoin will never die, not until the nuclear war takes place.
for now the miners will not stop, they certainly have a way to minimize losses.
and I'm sure, even though bitcoin prices are plummeting as they do today, they can still benefit from mining.
they will stop mining if bitcoin has run out. and nothing else can be mining
and I'm sure, even though bitcoin prices are plummeting as they do today, they can still benefit from mining.
they will stop mining if bitcoin has run out. and nothing else can be mining
The beginning of bitcoin is very cheap and it is not an obstacle for the miners, but at this time the price is still high and becomes a profit for the miners, and when the price goes down I think the miners already have a reserve fund for tool maintenance and they will sell again bitcoin at the time the price goes up again.
It could be possibly stop when crypto have no longer in service or mining isn't profitable. Since crypto are still alive, it will still be their and always make returns. But due to the largely growth of competition in mining fields, it seems to be not giving them a good profit and some of them are just quitting from mining.
With the price plummeting I am wondering at what price will Bitcoin not be profitable to mine anymore? What is the break-even point?
What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
Well no, the bitcoin mining is always going to be profitable no matter what the price is , the block mining time and the difficulty are always chaning in order to adapt to the number of miners that are mining bitcoin, so if the bitcoin price goes down so is the mining time so means it will cost less to mine bitcoin, so as long as there is electricity and pople trying to mine even with their GPU's there will always be profit from bitcoin mining.What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
There will always be coins that are collected from fees, so mining will never stop.
Maybe some comet will end mining...and the rest of the world.
Maybe some comet will end mining...and the rest of the world.
With the price plummeting I am wondering at what price will Bitcoin not be profitable to mine anymore? What is the break-even point?
What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
Well no, the bitcoin mining is always going to be profitable no matter what the price is , the block mining time and the difficulty are always chaning in order to adapt to the number of miners that are mining bitcoin, so if the bitcoin price goes down so is the mining time so means it will cost less to mine bitcoin, so as long as there is electricity and pople trying to mine even with their GPU's there will always be profit from bitcoin mining. What happens when the price is so low that it costs the miners more to mine BTC than it rewards them? What happens if they pull the plug? BTC is dead then?
There are only 21 million Bitcoins available for mining. Once all of those Bitcoins have been mined, no more new Bitcoins will ever be created. This stands in stark contrast to national currencies, which are constantly expanding. Governments like to encourage inflation, so they generally increase the money supply. This leads to the devaluing of currencies, however, and in practice, it can reduce the wealth held by individuals and families.
Once all bitcoin will mine i think that its price will become skyrocket because the demand is already increasing from time to time while the supply is decreasing, i think when supply will stop then people will hold their bitcoin and not sell it and that is the reason the demand will increasing from time to time may be in near future bitcoin will be trading above 50000$.
There is not a single price point, where the mining cost will exceed the price of bitcoins for everyone. The reason for this is the price of electricity and the fact that the price differ from one country to the next.
The solar energy solutions are improving every year, becoming cheaper and also more efficient and as this becomes cheaper, people will be paying less for their small mining operations. Some friends of mine are mining Alt coins with surplus solar energy, provided for free by their work. 
The solar energy solutions are improving every year, becoming cheaper and also more efficient and as this becomes cheaper, people will be paying less for their small mining operations. Some friends of mine are mining Alt coins with surplus solar energy, provided for free by their work.
There are only 21 million Bitcoins available for mining. Once all of those Bitcoins have been mined, no more new Bitcoins will ever be created. This stands in stark contrast to national currencies, which are constantly expanding. Governments like to encourage inflation, so they generally increase the money supply. This leads to the devaluing of currencies, however, and in practice, it can reduce the wealth held by individuals and families.
It won't stop ever and why would you even want mining to stop the only way transactions are sent to each is when a miner verifies it is broadcasted on the network if ming stop bitcoin is dead as it would take days to get 1 confirmation mining keeps the network running
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