Miners are alive If BTC reach to $3000 ? And Is it possible ? - page 2.

Phiantumed

newbie

Activity: 4

Merit: 0

Quote from: yigga on October 03, 2018, 06:02:15 AM

In the bear market BTC price not stable and Most of Trading Analysis are predict BTC will reach $3k according to the theory of market cycle. I have more doubt If BTC reaches $3000 Miners are alive Huh

- BTC Reach $3k I guess most of the mining farms will be stopped. Is it possible to maintain mining forms at the market situation (BTC at $3K) ?
- When Miners are reducing in BTC blockchain what will happen for the transaction?
- Can we expect BTC going down to $3k Is it possible according to TA and Do we need to trust TA?

All Discussion are warmly welcome

That is the main reason I don't see Bitcoin falling this much, we have seen a repetitive pattern at 6k level, there is a huge support at that price point and no miner will sell his BTC below that.

Kprawn

legendary

Activity: 1904

Merit: 1074

Remember the electricity price is different all over the world. Some miners might still be making a large profit on a Bitcoin

price of $3000 per coin. Once it becomes unprofitable for some of the miners, they start shutting down their miners and the

hashing power drops. Satoshi made sure to balance things out, so he built in counter measures to decrease the difficulty,

when the hashing power drops. (At some stage it will drop enough for miners to fire up their mining equipment again) Wink

proTECH77

member

Activity: 1120

Merit: 30

Bisq Market Day - March 20th 2023

Quote from: yigga on October 03, 2018, 06:02:15 AM

- BTC Reach $3k I guess most of the mining farms will be stopped. Is it possible to maintain mining forms at the market situation (BTC at $3K) ?

All Discussion are warmly welcome

Finding alternative means of electricity will selvage the situation for the mining forms, though most of the mining farms will end up close down if eventually the price of BTC is at $3k.

bitcoinVPSD

full member

Activity: 442

Merit: 101

Yes, miners can make a profit because the bitcoin price can not fall below $ 3,000. Currently, bitcoin mining plants are increasing and are generating passive income from bitcoin for investors. When bitcoin becomes a rarity, I believe the price may increase and it will not drop to $ 3,000

ralle14

legendary

Activity: 3374

Merit: 1922

Shuffle.com

Quote from: yigga on October 03, 2018, 06:02:15 AM

In the bear market BTC price not stable and Most of Trading Analysis are predict BTC will reach $3k according to the theory of market cycle. I have more doubt If BTC reaches $3000 Miners are alive Huh

You worry too much about the price and heavily rely on the prediction of other people. Bitcoin haven't reached below $3k this year the lowest was $5800~ then went back to $6000 for months now. I strongly agree with what dothebeats said at the last part of his post. If Bitcoin reaches $3k out of nowhere there will be miners still mining the only ones that will be forced to stop are the ones with lesser hash power.

There's a chance that Bitcoin reaches $3k but I don't expect it to happen in the next couple of months or even next year because the price of Bitcoin keeps on improving as time goes by. Last year might be the last time we see Bitcoin at $3k.

Quote from: yigga on October 03, 2018, 06:02:15 AM

Is it possible to maintain mining forms at the market situation (BTC at $3K) ?

It is possible if they can find other ways to reduce their electricity cost.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

Quote from: yigga on October 03, 2018, 06:02:15 AM

In the bear market BTC price not stable

wrong. in a bear market price is going down. it has nothing to do with not being stable.

Quote

and Most of Trading Analysis are predict BTC will reach $3k according to the theory of market cycle.

wrong again. no analyst has ever made such speculation. there are idiots making guesses and FUDsters who are spreading FUD. other than that there is no reason for price to go down to $3k similar to no reason for it to reach $10k

Quote

I have more doubt If BTC reaches $3000 Miners are alive Huh

a little more than a year ago bitcoin was worth about $1000 and miners were "alive"!

Quote

- BTC Reach $3k I guess most of the mining farms will be stopped. Is it possible to maintain mining forms at the market situation (BTC at $3K) ?
- When Miners are reducing in BTC blockchain what will happen for the transaction?

there you go: https://en.bitcoin.it/wiki/Difficulty

Quote

- Can we expect BTC going down to $3k Is it possible according to TA and Do we need to trust TA?

no TA is not as good as you think but even TA is not saying anything about $3k. i don't know where you even got that price from Cheesy

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Well by then, I'm pretty sure most miners have already paid their equipment off and they are in profit right now. Also, most ASIC manufacturers align their machine prices based on the current bitcoin prices, so it is still possible that the miners would still stick to their mining schemes and profit all the way while the rest of us are being wary of the thought that it might slip down to sub-$1k level (which, IMO isn't likely to happen). Profitability is always at their side, though some miners with smaller farms might have to give it a rest for a while until the mayhem subsides.

Steamtyme

legendary

Activity: 1554

Merit: 2037

Quote from: 33bitcoin on October 03, 2018, 06:13:08 AM

The difficulty will adjust so there will always be miners turning a profit.

This explains it all if this highly unlikely situation were to happen. Someone will still be mining, because no matter what someone needs to be mining to keep the network alive.

It would essentially be who could hold out the longest and wait for the Diff adjustments to weed out the Miners with higher operating costs. The problem here is that you would have to hope the network still has a nice scattering of hash so that no one entity can manage to get a majority of the network hashrate, which at that unlikely price would be a real risk and potential cause for a further push down.

Now all that being said, do not trust these analysis, as they need to make predictions in either direction just to have a job.

1NV3ST0NM3

full member

Activity: 420

Merit: 110

Yes. Miners are basically aimed at increasing satoshi count and are not that much related to the dollar count which is the reason why miners have been able to make their way out of the recent years. Moreover decrease in price also means loss of anticipation in the new emerging miners which could mean increase in the share in the mining pool.

Moreover as per the current scenario on TA it doesn't quite look like we are going towards 3k. Infact, TA is showing signs of some bullish reversal on the TA.

33bitcoin

full member

Activity: 223

Merit: 111

The difficulty will adjust so there will always be miners turning a profit. The residential miners that pay high electricity rates will be the first to shut down. But even though the price has gone down from January the difficulty has actually risen so this doesn't always hold true.

erickkyut

hero member

Activity: 1176

Merit: 509

I don't think so. Even if Bitcoin price drops to $3000, mining will not be that profitable unlike before because of the mining difficulty. Most of the Bitcoin had been mined already and it is now very hard to mine it. I suggest if you would go into mining, it is much better if you will mine quality altcoins.

1993jochico

member

Activity: 364

Merit: 46

Quote from: yigga on October 03, 2018, 06:02:15 AM

In the bear market BTC price not stable and Most of Trading Analysis are predict BTC will reach $3k according to the theory of market cycle. I have more doubt If BTC reaches $3000 Miners are alive Huh

They always predict but dont bother to listen to them if you trust this technology, they always predict every preice but i cant remember a sigle time they get the exact price, there's no sense on listening to those idiots.

yigga

full member

Activity: 211

Merit: 100

In the bear market BTC price not stable and Most of Trading Analysis are predict BTC will reach $3k according to the theory of market cycle. I have more doubt If BTC reaches $3000 Miners are alive Huh

- BTC Reach $3k I guess most of the mining farms will be stopped. Is it possible to maintain mining forms at the market situation (BTC at $3K) ?
- When Miners are reducing in BTC blockchain what will happen for the transaction?
- Can we expect BTC going down to $3k Is it possible according to TA and Do we need to trust TA?

All Discussion are warmly welcome

Topic: Miners are alive If BTC reach to $3000 ? And Is it possible ? - page 2. (Read 395 times)