What happens if bitcoin price falls below the cost of mining it? - page 5.

greengirl

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Quote from: MadisonWood1212 on July 27, 2018, 11:28:59 PM

If the value of Bitcoin goes down below the cost of digging, people may not be able to start mining anymore but will buy back Bitcoins, which results in loss of diggers, increased transaction fees.

I agree with your opinion. But it is hard to make that happen because the community uses Bitcoin very large.

leeheidrick

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I'm afraid of those who mined bitcoin and kept it for a long time and sold it all and made the bitcoin price go down.
this is quite dangerous and can happen anytime if they sell it on a large scale,
my advice remains vigilant while in the market Because the price can change instantly without notice

Rufsilf

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It is simple, the miners of bitcoin will pull out their funds and equipments and they will be transferring to another type of cryptocurrency that they may find profitable for long term mining and that will become the cause for the fall of bitcoin and the market of bitcoin will just die and that will be the very first legit death of bitcoin.

MadisonWood1212

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If the value of Bitcoin goes down below the cost of digging, people may not be able to start mining anymore but will buy back Bitcoins, which results in loss of diggers, increased transaction fees.

PEDROMAP

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I find That hard to believe, too much people involved

Btcjoglyn

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Quote from: Indra32 on February 02, 2018, 11:46:14 PM

Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

the possibility of investors and bitcoin enthusiasts will race to buy bitcoin for the mine and hope that someday bitcoin prices can skyrocket so they earn a significant profit when the price spike occurs

Definitely Yes I agree. Investors and bitcoin will race to buy bitcoin for mining. Money in mining is much higher.

Ailmand

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Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

Mining is such a tricky business now, I say that because the more the market cap is filled, the difficult it is to mine coins. And so, as more and more Bitcoins are mined and the market is filled by it. It would be more difficult to mine the remaining ones. Also, like any other currency it's not just the creation, or in Bitcoin's case, mining, that could make it prosper. The transactions and healthy circulation of the assets that are already in the market would play a bigger role in keeping the value of Bitcoin up. Why would you rely more on those assets that are not mined yet, when there is so much more to do business with that is already in the market.

Visteryy

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Quote from: onecall123 on July 21, 2018, 01:59:38 PM

Mining BTC cost about 5.3k if I'm not wrong. So literary below it will normally not go. If ever happened then producing would mean lost, without profit. Though I don't get any clue how someone thinks BTC may visit $5k before rallying to new highs!

Exactly. I think so.
It will not be exploited if they do not receive any profit, I am sure of that.
They always calculate carefully, or at least, they see the potential of it in the future.
I suspect that it will happen.
There is a lot of electronic money that is not profitable for me but people still do it? Why? They may want to keep it and sell when prices rise.

ShineftChaos

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Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

In my own opinion, bitcoins price will never drop the cost below the mining price because people will stop mining in that situation and the transactions will be slower.

Strongball

jr. member

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Mining would be affected if this happens and prices continues to stay low. Though bitcoin prices
are so volatile that dips and deflation happens to a lot more than spikes. It's a norm it seems in
this market, prices can affect a lot of sectors here.

BTC-BTC-BTC

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A lot of people will stop mining and the Market will correct itself. Some will remain mining for future profit and other will just purchase more at mining cost.

KuromaYoichi

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Quote from: onecall123 on July 21, 2018, 01:59:38 PM

Mining BTC cost about 5.3k if I'm not wrong. So literary below it will normally not go. If ever happened then producing would mean lost, without profit. Though I don't get any clue how someone thinks BTC may visit $5k before rallying to new highs!

If the price of bitcoin fell below 5,3k then there will be a lot of mining farm that will stop mining bitcoin and that will make the difficulty go down after some time. If the mining difficulty go down then it will be easier to mine bitcoin and the mining cost will be lower aswell so it's definitely possible for bitcoin to go below 5k, not that i want that to happen though.

onecall123

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Mining BTC cost about 5.3k if I'm not wrong. So literary below it will normally not go. If ever happened then producing would mean lost, without profit. Though I don't get any clue how someone thinks BTC may visit $5k before rallying to new highs!

juki35man

newbie

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Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

I think it's just an ordinary cycle in the crypto world where bitcoin will experience its lowest point every year and we as fans of crypto especially bitcoin must be ready for all the possibilities that occur

shaadsufi

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If it happens that the server cost of mining a bitcoin is greater than the price value of that bitcoin and this happens to all of the coins then, in this case, the coins generated will be the only coins existing in the market and no more bitcoins will be mined so bitcoin will only be affected by demand then

fernando48

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If the price bitkoyna falls below the cost of its production, miners with expensive electricity will leave and remain the strongest

Fog Fence

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In this case, large miners will continue their activities. Difficulties will arise only in small miners, because they are not ready to work at a loss for a long time. If you do not have a large mining enterprise, then bitcoin mining is now generally meaningless.

mackenzied

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Quote from: BelieveInBTC on June 03, 2018, 07:57:32 AM

Quote from: FADI1 on June 03, 2018, 07:49:21 AM

I don't think that is possible because if the price fropos that means the number of transactions is droping meaning with the same hardware you will be able to make more amounts of bitcoins.

If the price drops suddenly then usually, the panic starts and people send their bitcoins ot exchanges in order to sell it. Mining might actually become unprofitable if there won't be a new ASIC released. However, I doubt that it would happen. There are many cryptocurrencies which are not profitable to mine but people still do it? Why? They probably want hold it and sell when the price increases.

No one accepts a coin without profit. They will not mine it if they do not receive any profit, I'm sure of that. They always calculate carefully, or at least, they see its potential in the future.

BelieveInBTC

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Quote from: FADI1 on June 03, 2018, 07:49:21 AM

I don't think that is possible because if the price fropos that means the number of transactions is droping meaning with the same hardware you will be able to make more amounts of bitcoins.

If the price drops suddenly then usually, the panic starts and people send their bitcoins ot exchanges in order to sell it. Mining might actually become unprofitable if there won't be a new ASIC released. However, I doubt that it would happen. There are many cryptocurrencies which are not profitable to mine but people still do it? Why? They probably want hold it and sell when the price increases.

FADI1

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I don't think that is possible because if the price fropos that means the number of transactions is droping meaning with the same hardware you will be able to make more amounts of bitcoins.

Topic: What happens if bitcoin price falls below the cost of mining it? - page 5. (Read 1416 times)