I think the bitcoin network hash power will drop dramatically
and that will lead to bitcoin being less decentralized than before
but I'm not sure that can happen
because the development of hardware for mining bitcoin will always be updated
Topic: What happens when the price of Bitcoin falls below the cost of mining? - page 4. (Read 16845 times)
August 16, 2018, 05:57:50 PM
August 16, 2018, 05:40:30 PM
I feel like I've seen this kind of topic before but the cost of mining will readjust itself based on the bitcoin price right now, if the price keeps dropping then a lot of miner will stop mining, the difficulty goes down and the cost to mine will go lower aswell, the opposite will happen when the price goes up as there will be more people that want to mine that make the difficulty increase.
I agree with you. This is a dynamic process and if Bitcoin was to become too expensive to mine then the whole value would readjust itself.
August 16, 2018, 05:37:47 PM
I think it will be a very hard for bitcoin. I hope that bitcoin will not go to this much low. But anything can be happened in the crypto world. If it happens, it will be one of the worst times for bitcoin.
August 16, 2018, 05:19:15 AM
If BTC continue to decreasing it's market value it will felt very bad effect to BTC mining because many lose their interest to mining then.
August 15, 2018, 04:32:33 AM
Yes you are right. Bitcoin is future gold. Bitcoin future is bright. If bitcoin falls down over the mining cost, as a result, some of bitcoin mining country will stop there mining.
August 15, 2018, 04:25:38 AM
Well, I think some will stop mining and some other continue. If nobody wants bitcoin anymore or bitcoin have no value, all miners will stop. Nothing to worry about.
August 15, 2018, 04:16:34 AM
Firstly, Chinese miners and equipment manufacturers for mining will not let Bitcoin price drop to a level where mining becomes unprofitable. Secondly mining equipment can be used not only for mining Bitcoin, but also for encryption, calculations for AI, modeling and so on. Therefore, I see no problems for miners associated with the drop in the price of Bitcoin.
August 15, 2018, 03:16:21 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.
Will in this case if bitcoin fall because of mining ,there must be a big tendency thats theres a big factor effect in the worlds of cryptocurrency,i thinks its hard to recover when the markets value falls down and maybe all crypto coins would been affected,because mining is one of the big factor thats make the blockchain works and cause a big effect to the crypto worlds.
August 15, 2018, 02:57:36 AM
you shouldn't really concern yourself with the cost of mining and the bitcoin price, some comments already explained why not so i won't repeat. the only thing that we do need to consider these days specially is the fact that people believe $6000 is the cost of mining and they also believe that price wouldn't fall below it because it will become impossible to mine. although wrong but this little belief makes $6000 even more stronger than before.
August 15, 2018, 02:48:06 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.
I think the tipping point of mining activities would come, and it would most likely lessen at a big percentage the amount of people who are mining for coins. I say that because it would not make sense to continue on something that you would only get a loss in the end. For every business venture that people do in the cryptocurrency market, it's always aimed to get something back whether it's profit or asset. Also, I think that right now, it is slowly reaching that point because it has become harder to mine since the market cap of many coins are reaching its peak.
August 15, 2018, 02:23:17 AM
If it's lower than the cost of mining, then some small mines may go bankrupt, and there won't be people coming to the market right away to buy bitcoins because some big mines have very low electricity.
August 15, 2018, 02:14:19 AM
Even if price keeps dropping, I'll keep buying because I think price will eventually rise again and see new highs. I'm prepared to wait years for the big turnaround. But for miners, aren't most of them about immediate gains?
Speaking in economic terms, why would someone (not motivated by the ideals of crypto-currency) mine something if its value is less than the cost to mine it. In the real world, be it real gold or drilling for oil, or other, if cost is greater than reward, a business does not invest in such things.
Speaking in economic terms, why would someone (not motivated by the ideals of crypto-currency) mine something if its value is less than the cost to mine it. In the real world, be it real gold or drilling for oil, or other, if cost is greater than reward, a business does not invest in such things.
August 15, 2018, 02:02:25 AM
When the price of electricity is higher than buying bitcoin directly they will shut down their miners. When it rises above what they can buy for money they will start their miners.
The fewer miners there are, the more profit there is per miner for those who are left, so the amount of miners will reach some equilibrium.
They will most likely not turn off their miners, but they will shift them to something else than bitcoin. If there are no other coins they can mine than bitcoin there will just be less mining.
The fewer miners there are, the more profit there is per miner for those who are left, so the amount of miners will reach some equilibrium.
They will most likely not turn off their miners, but they will shift them to something else than bitcoin. If there are no other coins they can mine than bitcoin there will just be less mining.
August 15, 2018, 01:38:06 AM
Hopefully, it won't fall to that level. Miners are fams that understand the process of bitcoin investment. Most bitcoin investors do not look for short term returns but the long-term effects. They might panic but trust me. They will hold on till bitcoin gain grounds again
August 15, 2018, 12:49:39 AM
The price is not the thing to be worried about. It will be of grave concern if the hash rate falls. Because then the BTC will be in deep trouble. So the price rate does not matter at all,a s long as the hash rates are up.
August 15, 2018, 01:04:57 AM
Right now, it doesn't look like mining will stop as recently Bitcoin experienced an all time high hash rate which just indicates that the miners are mining coins with twice the intensity and effort. Even if the price of BTC falls below the cost of mining, the miners can get profit in the long run as they can easily continue to mine with same rig over and over again.
August 15, 2018, 12:38:53 AM
Even if the price of BTC falls below the cost of mining, it won't die anyhow. Because as long as there are miner, mining the coins, it means that the coin is still alive and and has a demand in the market still.
August 15, 2018, 12:56:04 AM
The price is not the thing to be worried about. It will be of grave concern if the hash rate falls. Because then the BTC will be in deep trouble. So the price rate does not matter at all,a s long as the hash rates are up.
What You write, is nonsense. If You believe, that BTC has something to do with crowdsourced hashing, then lessening reward is in direct correlation with hash rate.
August 14, 2018, 12:52:32 PM
most of the people start mining bitcoin went the price was very low and if i'm not wrong then it may be 1k and how could it be possible to fall the price below 1k.
August 14, 2018, 12:50:13 PM
First of all it is very much impossible that bitcoins price will gonna fall even below the mining and if it happens then the existence of bit coin will become disappear which is impossible.
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