Are miners making money? I suspect you'd have to get the mix right.
I own some shares in this company https://digitalx.com/ who tried to make money mining (in Iceland IIRC) and they gave up as they could not make money.
Topic: BTC Halving Failure with Market Price below $900 US$ (Read 1438 times)
I think the bitcoin price will remain relatively stable for long. Perhaps the halving could cause some volatility for some days, but the bitcoin price will return rapidly to previous values, and perhaps at the end of the year it will reach the $700 level.
this is mostly BS, especially the part about the necessity of doubling the price to $900 that is only true if miners are losing money at $450 which is not true they are profiting a lot at the current price and there is no need to go to double so they can profit.
OP stated : The current price will require a doubling for their profit margin to stay exactly the same.
Za1n added:
So I would add option I., which should be A. They keep mining and learn to live with less profit.
So you picked option I.
simple solution switch to proof of stake, pow is going to fail sooner or later anyways
Switching to POS is giving power back to users. How is Blockstream supposed to push through with their agenda when they suddenly have to deal with hundreds of decentralized users staking blocks instead of a handful CEOs of the mining cartels?
One day you will read and understand the points that monsterer, smooth, r0ach, ArticMine, myself and others have explained as to why PoS(shit) is just shit and worse than PoW. I don't have time to re summarize. Go find the relevant threads and learn please.
You yourself have pointed out that PoW is Economically flawed and doomed to be Elite only controlled,
(You are planning to dump your remaining BTC in the r0ach inspired pump.)
Why the apprehension to admit PoS is (at the moment) the only Viable Successor?
Unsubstantiated Slander is beneath you, so stop or post your exact reasoning , so I may help you understand why you are mistaken.
FYI:
I have read your permission verses permission less theory (which r0ach pretends it is scripture) and found it nonsensical and devoid of real world mechanics.
"H. Spoetnik releases a New Super Virus , that turns all Humans into Canadians...
Already been set loose:
I think the result for the miners will be the same even the price is high even it will the same mining still profitable for some country.. like other they are making a profit with free power consumption..
And maybe after halving if they notice that their earnings are decrease may some miners will be stop mining so the difficulty will be decrease.. and other miner will be happy because the difficulty was increase ..
And maybe after halving if they notice that their earnings are decrease may some miners will be stop mining so the difficulty will be decrease.. and other miner will be happy because the difficulty was increase ..
OP's premises seem to be off. OP assumes prices have to double for a mining operation to breakeven. Said assumption doesn't necessarily hold true for mining operations that have different expenses/costs associated with their business. Miners that:
a. can buy equipment or power at a discounted rate,
b. can manufacture certain machine components or service their operation in a way that others can't (i.e., contributing real estate to the operation that was paid for long ago, gifted, inherited, etc. (avoids rent)),
c. have already re-cooped their investment on equipment,
may continue to realize a profit post-halving. However, there's no question that some miners won't be able to continue making money mining (or will see increased losses); and even so, that doesn't mean they'll stop mining.
a. can buy equipment or power at a discounted rate,
b. can manufacture certain machine components or service their operation in a way that others can't (i.e., contributing real estate to the operation that was paid for long ago, gifted, inherited, etc. (avoids rent)),
c. have already re-cooped their investment on equipment,
may continue to realize a profit post-halving. However, there's no question that some miners won't be able to continue making money mining (or will see increased losses); and even so, that doesn't mean they'll stop mining.
fish
this is mostly BS, especially the part about the necessity of doubling the price to $900 that is only true if miners are losing money at $450 which is not true they are profiting a lot at the current price and there is no need to go to double so they can profit.
and the fall will only happen if the demand stops being this high which will never happen and with the supply being reduced and the demand increasing there is only one way to go and that is up.
and the fall will only happen if the demand stops being this high which will never happen and with the supply being reduced and the demand increasing there is only one way to go and that is up.
Miners will keep on mining, regardless of what happens with the price. Or their equipment gets sold to people who can mine more cheaply. Either way, the market could give a shit about miners.
sure let's waste millions of asic machine for nothing
it has amazed me how the sha256 miners community ... in general has used a scored Earth policy with alt sha256 coins ... Zeta only survived +$100K because it was a ninja mine ... after that Terra? It is an absolute void ... you made the bed ... rust in pieces you will ... you guys didn't even manage to facilitate more than 2 reputable alt sha256 pools ops. $12 Billion in capital to work with!!! /dumb
Scrypty at least has a variety of coins, and don't doubt China had a hand in making that happen
[TPTB_need_war /quote]
BTC
hear no consolidation
see no consolidation
speak "Oh Bitcoin is going to $25K/coin on the halving!!!"
fucjkin Train wrecjk
that lends justification to $Eth PnD operation
simple solution switch to proof of stake, pow is going to fail sooner or later anyways
sure let's waste millions of asic machine for nothing,
Unfortunately, once the halving hits, unless the market makes another remarkable upsurge, those asics that are not 15nm or better are going to be relegated to leasing hash and mining new shitcoins. Or ending up in the hands of noobs after an ebay sell. They can make good doorstops and space heaters too.
simple solution switch to proof of stake, pow is going to fail sooner or later anyways
simple ... i'm not sure you know what that word means ...
... China owns LTC, likely will own BTC, if you have the cheapest cost of production, that is why ... $300 BTC by october ... only Washington St. and maybe Iceland can compete by the K/w ...
.. but i'm buying all the Fish I can lay hands on! Then I'm moving to the Great White cuz, hockey and ice fishing you know ...
simple solution switch to proof of stake, pow is going to fail sooner or later anyways
sure let's waste millions of asic machine for nothing, also pos mean that those that are holding 100K coins and exchange, would simply dump from stake, which is utterly stupid in the case of bitcoin that hash the highest value
simple solution switch to proof of stake, pow is going to fail sooner or later anyways
Switching to POS is giving power back to users. How is Blockstream supposed to push through with their agenda when they suddenly have to deal with hundreds of decentralized users staking blocks instead of a handful CEOs of the mining cartels?
One day you will read and understand the points that monsterer, smooth, r0ach, ArticMine, myself and others have explained as to why PoS(shit) is just shit and worse than PoW. I don't have time to resummarize. Go find the relevant threads and learn please.
simple solution switch to proof of stake, pow is going to fail sooner or later anyways
Switching to POS is giving power back to users. How is Blockstream supposed to push through with their agenda when they suddenly have to deal with hundreds of decentralized users staking blocks instead of a handful CEOs of the mining cartels?
simple solution switch to proof of stake, pow is going to fail sooner or later anyways
They can't even get consensus on increasing the block size. I doubt a switch from POW to POS will ever happen with BTC.
simple solution switch to proof of stake, pow is going to fail sooner or later anyways
I say option B is most likely. I'm sure the large Chinese pools and farms have figured out ways to already reduce their electricity costs and make more efficient ASICS. I also think Bitfury has probably already developed even better technology, and will be unleashing it into their own farm just in time for the halving. Small time miners. Forget about it.
Jump to: