The main problem is that people consider the price level to be the major determinant of sustainability, which is partially correct.
However, at this point even increased acceptance and use of BTC leads to price decline. Why? Retailers accept BTC and immediately sell it for FIAT thus creating downward pressure to BTC price.
However, at this point even increased acceptance and use of BTC leads to price decline. Why? Retailers accept BTC and immediately sell it for FIAT thus creating downward pressure to BTC price.
I would say it is a big issue. As if it's not enough to pay for mining most would shut down. Sure some would stay up that believe in bitcoin. But most can not afford to keep running if at a loss.
BTC system is designed to correct itself. If the price goes down big time, which I personally do not believe, some less efficient miners would get out of the game. As a consequence, mining difficulty would go down and mining would become profitable again.
