I am continuing because I hope history will repeat itself. Last year the price of a bitcoin in August was 3000 bitcoin and the mining rewards were really low but from end of September up to December the price of a bitcoin spiked up to the 20000 bitcoin point and everybody was happy.
I am only still mining hoping that history will repeat itself but this time from 6500 dollars which actually is a bitcoin , I hope it goes up to 45000 dollars for a bitcoin.
Everyone knows btc will go up with time.
Question is why miners are so stupid to mine in negative and wear down hardware ? Difficulty slows down in bear marker but still increases.
Cash can bring in more coin and also raise up your average cost basis for trading to pay less taxes, even help to recover faster from bear market if more people buy in directly
Because difficulty will only to increase. You might be able to mine 2 coins with your hashing power today, but six months from now, it could be reduced to 1 coin with the same hashing power. If you look at the late 2017 mining craze, you can see that those high daily profits didn't last long. Your hardware is also going to decrease in value over time. I think that if you're going to shut down mining rigs, because you're operating at a loss, the hardware needs to be sold off.
The answer is different for everyone depending on electricity cost, if the hardware has already paid for itself, if you actually believe that the price of the coin you're mining today will increase in value in the future.
When you don't have any "cash in" transactions to centralized exchanges which usually want documents from you then you can easy cash out money without your name too.
