BTC's mining costs will also change with the price of the market!
When the market price is low, many mining unions have withdrawn due to cost problems, and the mining difficulty of BTC is reduced, and the mining cost is also reduced!
Topic: What happens when the price of Bitcoin falls below the cost of mining? - page 2. (Read 16845 times)
September 18, 2018, 07:17:39 AM
September 18, 2018, 07:04:04 AM
Most of the miners believe that Bitcoin's mining is still paying off, even if there is a further decline in value. For some groups of miners, the breakeven point is about $ 4,400.
September 18, 2018, 06:14:38 AM
So, I was thinking, for the long term, even if Bitcoin goes below USD 6000, no worries, 5000, 4000, much the same. Hodl for the long run.
But, the vitality of Bitcoin is maintained by the continuous mining of Bitcoin. On an average these mining costs are USD 3000 to 3500 approximately. So, what happens when Bitcoin falls to that level?
Maybe the mining rigs won't mind bearing losses for a few months if they sense an upside later on. But, what if they don't, and start bailing out?
In that case, USD 3000 or whatever the lowest cost of mining Bitcoin will effectively become the null point. If Bitcoin falls to that point, downwards beyond that is a steep vertical cliff wall, and an inevitable fall to Zero.
i think it won't matter as we know that the price of bitcoin of January last year was at $1k or much lower and we don't heard any problems with those miners. Those miner will also go with the flow along with the price of bitcoin. Yeah they will be affected but it's part of the volatility of the bitcoin price and they know that before they put up there mining rig. But, the vitality of Bitcoin is maintained by the continuous mining of Bitcoin. On an average these mining costs are USD 3000 to 3500 approximately. So, what happens when Bitcoin falls to that level?
Maybe the mining rigs won't mind bearing losses for a few months if they sense an upside later on. But, what if they don't, and start bailing out?
In that case, USD 3000 or whatever the lowest cost of mining Bitcoin will effectively become the null point. If Bitcoin falls to that point, downwards beyond that is a steep vertical cliff wall, and an inevitable fall to Zero.
September 18, 2018, 06:00:35 AM
I believe that people who extract bitcoin in large quantities, they will still get it even if the coin falls down.
September 06, 2018, 01:00:44 PM
I think people will stop mining Bitcoin if this ever happens. The issue with mining is that there are a lot of complexities that need to be overcome before starting the mining process. If there is no incentive. then people will be discouraged from the cryptocurrency mining.
August 20, 2018, 06:30:48 AM
I think that the miners will not allow lowering the cost of production! if it happens they will receive losses! they will have to quickly return their lost positions and again raise the price! so that in any case everything will be fine and the price of bitcoin will grow!
August 20, 2018, 06:02:36 AM
If the price of bitcoin is below the mining price, the first time it will get a bad impact is bitcoin miners, then the traders and temporary bitcoin holders. they will feel panic and might stop their activities.
At the same time they might seek for something for them to have a replacement to mining that will cost less and they can earn more. If people tends to love what they are dong, they will probably seek for ways. Therefore if it happens some may leave crypto but those who believes in bitcoin will probably find there way.
It will give big impact for miners if bitcoin price below mining cost. Miners will move to mine others profitable coin because peoples who involve in crypto must be looking for profits. Maybe bitcoin transaction will more slower than before price drop
August 20, 2018, 03:25:14 AM
When Bitcoin drops too low, Bitcoin operators will die because of the cost of digging Bitcoin. Of course, there are two sides to it, so many people are rushing to exploit Bitcoin, which causes the market to have too many Bitcoins and keep Bitcoin prices down at the moment. This has affected the market and also the owners of Bitcoin.
August 20, 2018, 02:53:38 AM
bitcoin is maintained by the continuous mining of bitcoin an average these mining happens when bitcoin fall if anything the cost of mining is about $6000 which has been calculated by silly speculators. but in reality cost of mining will always remain near bitcoin's current price because that is how mining and difficulty works.if price goes up there will be more miners, more hashrate, higher difficulty, less profit and if price go down it will be higher in some other time...
August 20, 2018, 02:48:36 AM
Miners also think business if the cost they incur is the same as the current market price, so I believe they will stop mining and move to other businesses or investments.
August 20, 2018, 02:44:41 AM
If the price of bitcoin is below the mining price, the first time it will get a bad impact is bitcoin miners, then the traders and temporary bitcoin holders. they will feel panic and might stop their activities.
At the same time they might seek for something for them to have a replacement to mining that will cost less and they can earn more. If people tends to love what they are dong, they will probably seek for ways. Therefore if it happens some may leave crypto but those who believes in bitcoin will probably find there way.
It will give big impact for miners if bitcoin price below mining cost. Miners will move to mine others profitable coin because peoples who involve in crypto must be looking for profits. Maybe bitcoin transaction will more slower than before price drop
August 20, 2018, 02:07:22 AM
So, I was thinking, for the long term, even if Bitcoin goes below USD 6000, no worries, 5000, 4000, much the same. Hodl for the long run.
But, the vitality of Bitcoin is maintained by the continuous mining of Bitcoin. On an average these mining costs are USD 3000 to 3500 approximately. So, what happens when Bitcoin falls to that level?
Maybe the mining rigs won't mind bearing losses for a few months if they sense an upside later on. But, what if they don't, and start bailing out?
In that case, USD 3000 or whatever the lowest cost of mining Bitcoin will effectively become the null point. If Bitcoin falls to that point, downwards beyond that is a steep vertical cliff wall, and an inevitable fall to Zero.
But, the vitality of Bitcoin is maintained by the continuous mining of Bitcoin. On an average these mining costs are USD 3000 to 3500 approximately. So, what happens when Bitcoin falls to that level?
Maybe the mining rigs won't mind bearing losses for a few months if they sense an upside later on. But, what if they don't, and start bailing out?
In that case, USD 3000 or whatever the lowest cost of mining Bitcoin will effectively become the null point. If Bitcoin falls to that point, downwards beyond that is a steep vertical cliff wall, and an inevitable fall to Zero.
It would make sense to shut off the miners, and may smaller guns will do that. But I think the big guns will continue mining because Bitcoin is not going anywhere.
August 20, 2018, 01:49:38 AM
Miners dont mind the price because most of them dont look at the current price but they are looking on the future price of Bitcoin, even though lets say bitcoin lose its value below the cost of their mining expenses most of the miners will stay mining and only few of them will quit.
Lets say there quite a big number on few of them, then those who continue mining will get more profitable because of those who stop mining.
Lets say there quite a big number on few of them, then those who continue mining will get more profitable because of those who stop mining.
August 20, 2018, 01:39:15 AM
even you, you know the best answer, of course miners will stop mining, there is no profits on that if the price of bitcoin falls below the cost mining. miners switch to the other one coins that suitable in mining to make profits. when bitcoin continues falls down below miner fee, the production in mining will less and the circulation of bitcoin will slow to reached the max supply.
August 20, 2018, 01:31:20 AM
What I have in mind is bitcoin. I will make it a wealth asset and a source of investment because bitcoin has many advantages over other currencies or even compared to gold and silver
August 18, 2018, 08:32:31 PM
There has been a decline of mining video cards of nvidia maybe some miners are cutting losses because the cost of mining and what they earn is inbalance. But mining will never go out of business as long as there are users who uses bitcoin as payment. There are big firms who is promoting and doing business through mining btc im some countries like china.
August 18, 2018, 08:21:02 PM
The truth is that mining has high risks as well as direct purchase. If the price falls below the cost of production, it is a dangerous situation, because no one has a guarantee that it will rise again, then when it occurs and the price is good, it is best to sell a part to recover the investment from mining, too much accumulation can have the risk of very large losses.
August 18, 2018, 08:09:53 PM
People will continue to mine because the chance for $20,000 Bitcoin always has a chance of returning so you were always mining for a profit even though at the time you were not. Gotta believe.
August 18, 2018, 05:52:24 PM
Seriously, it will not be "reasonable" to mine in many countries, mining power is in ridiculously huge excess anyway. That much mining is not needed, most of it is just a waste of energy. Many people dont understand information technology enough..
August 18, 2018, 05:31:59 AM
Bitcoin has a bigger future than any other investment, it will be very profitable for long-term. We know that this market is unstable and should get a great profit after a big fall.
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