Topic: Would bitcoin mining be still profitable if it's price falls? (Read 147 times)
If the cost of mining around 4500 per BTC, then how when the BTC price below 1000$ people mine it :/ if it's not profitable these people will surely do not engage with it. I'm still in confuse if this is non-profitable business
Well In the current situation of bitcoin today I think mining is not much profitable due of continuously price fall and the consumption of electricity and some other maintenance will reduced your profit especially in some countries that have a hot weather and expensive electricity bills.
Bitcoin mining requires expensive costs and increasing difficulties, if bitcoin prices fall further, I think small investors will choose to stop because the proceeds from mining are not enough to finance operations.
As per sources available and my information (memory) I could find ; the cost of mining one btc is $4700. And the price is hovering little above this level. So if the price further falls below this level ; the mining will become loss. There will be no profit under such circumstances.
Hi this is my doubt about costs related to bitcoin mining.As we all know that the difficulty as well as the cost for bitcoin mining is increasing continuously,suppose now the price is around 6,400 dollars and if this goes down a little to 5,000 dollars and if it continues for a period of six months,then would it be profitable for people or companies who mine bitcoins and if they were in a loss,would they be able to continue mining with a hope that bitcoin price would increase and they could recover their losses.And would it affect bitcoin mining in future?
Your views are most welcome.
What I personally think about bitcoin is that we all should know that bitcoin is a volatile crypto currency and moreover a kind of investment so the rate flactuation is very very common in the bitcoin investment and this doesn’t prove that bitcoin is a scam ora bubble only if its valuation is deflating , ups and downs, pumps are dumps are very common rule of every investment and so is applicable for bitcoin also but it doesn’t mean that bitcoin mining would not be profitable if its valuation is low. Your views are most welcome.
Hi this is my doubt about costs related to bitcoin mining.As we all know that the difficulty as well as the cost for bitcoin mining is increasing continuously,suppose now the price is around 6,400 dollars and if this goes down a little to 5,000 dollars and if it continues for a period of six months,then would it be profitable for people or companies who mine bitcoins and if they were in a loss,would they be able to continue mining with a hope that bitcoin price would increase and they could recover their losses.And would it affect bitcoin mining in future?
Your views are most welcome.
Your views are most welcome.
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