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Topic: most of miners are shutting down their gigs? - page 4. (Read 856 times)

hero member
Activity: 1040
Merit: 538
Defend Bitcoin and its PoW: bitcoincleanup.com
November 26, 2018, 04:21:36 PM
#9
It's not most of the miners, you have maybe heard of miners in China. I don't know why did they react like that, but they are selling their miners for 10% of the original price. At least it is a good opportunity for others, you can buy several of miners for the price of one and make a good profit when the market stabilizes a bit.
legendary
Activity: 2814
Merit: 1192
November 26, 2018, 03:26:54 PM
#9
Some miners will, others will not. It's the same with holders. Some will sell, others will not. It doesn't change anything in the long run. When Bitcoin was worth 2$ and pumped to 26$ some people sold and became millionaires in 1 day. Did that change Bitcoin? Did that had any impact on the world economy? It's as significant as you selling or buying right now. Bitcoin or the economy won't even notice you.
legendary
Activity: 2296
Merit: 1014
November 26, 2018, 03:01:52 PM
#8
I heard most of the miners are shutting down their gigs, Is it true? So, Is this the end of Bitcoin?  Huh
FUD spreading for pump and dump purposes. Thats it.
Bitcoin is GLOBAL and miners are global. If enough of them quit mining will be profitable again.
Remember also, that many miners keep their coins waiting for better price.  So they can mine with loss for couple years, to sell with huge gain later on.
full member
Activity: 294
Merit: 107
WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
November 26, 2018, 02:43:35 PM
#7
No - it's not true. Many can still profit at current prices and hash rate is continuing to increase over time. If some inefficient miners do shut down their rigs then that's probably a good thing in the long-run.
jr. member
Activity: 266
Merit: 2
The Premier Digital Asset Management Ecosystem
November 26, 2018, 02:42:20 PM
#6
A drop of in number of miners would also create an opportunity for the existing miners as the reward per block would be shared among fewer numbers.
I don't think we at a calamitous drop yet, and it's definitely not the end of Bitcoin.
It would be interesting to see if there would be a significant increase in transaction cost.
sr. member
Activity: 2282
Merit: 470
Telegram: @jperryC
November 26, 2018, 01:29:59 PM
#5
Well if I'm a miner too I will also shut down my rigs, why?

First of all as you can see the market and the Bitcoins price it's dropping nonstop. You have invested to buy equipments, paying electricity and maintenance of the equipment just to mine a coin that the price is dropping isn't? Let's say you pay for electricity as well as the equipment for $1000 and you're going to sell the Bitcoin you've mined just for 300$.
member
Activity: 648
Merit: 10
November 26, 2018, 01:20:53 PM
#4
Many miner have sold their miner tools because lower budget and earning getting every day, we have stop for take profit with miner and try other way for getting profit with bitcoin and altcoin,
member
Activity: 546
Merit: 12
November 26, 2018, 01:16:15 PM
#3
Most means at least 51%
We had a 7% difficulty drop last time and maybe another 10-13% this period which is hardly even 1/4.

So it's not true and it's not the end of Bitcoin.

LE
To get a better picture, the chain still has five times more hashrate than during the 2017 pump.

Yes, This is a good point. Thanks mate.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
November 26, 2018, 01:11:38 PM
#2
Most means at least 51%
We had a 7% difficulty drop last time and maybe another 10-13% this period which is hardly even 1/4.

So it's not true and it's not the end of Bitcoin.

LE
To get a better picture, the chain still has five times more hashrate than during the 2017 pump.
member
Activity: 546
Merit: 12
November 26, 2018, 01:09:28 PM
#1
I heard most of the miners are shutting down their gigs, Is it true? So, Is this the end of Bitcoin?  Huh
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