/biz/ - Business & Finance

>>15654559
>we will 51% atta-
imagine not owning one full btc in 2019

Unironically, what are the implications of this exponential growth in hashrate?

>>15654621

btc wins, it's the only crypto that matters, and if you don't own at least one (1) btc at this point what the fuck have you been doing

>>15654570
>imagine not owning one full btc in 2019
B-But I only just started

>>15654621
BTC becomes more secure
51% attack becomes more costlier
once the last asics hit due to the moore law limit a 70% reduction in supply happens as all miners no longer need to sell to upgrade asics.

>>15654570
>imagine not owning one full btc in 2019

This

>>15654559
how much electricity is BTC using these days? and how much will it use if BTC reaches 100k?


Normies are never going to buy this environmental catastrophe.. Look at all the climate change protests these days lol

>>15654698
Forgot halving where itll no longer be profitable to mine btc lol

>>15654621
dumps increase as mining margins decrease

>>15654720
the same normies who protest against climate change go to mcdonalds and buy foods which is speratedly packed in paper.

>>15654570
I am a poorfag from eastern europe and I own only .25 BTC.
Feelsbadman

>>15654790
you can buy 20 of the real bitcoin for that m8

>>15654809
m8 I might be poor but I am not retarded so don't shill me pajeet scams

Graph is not clear at all. Is spike being caused by new miners or just faster ASICs? It is greed line anyway and price is not following!

>>15654720
>Look at all the climate change protests these days lol
Whole lot of nothing compared to early 2000's

Tfw i sold all my 10 bitcoins at little over 1k just before the insane bull run

Well, at least i bought them at 400 usd

>>15654741
>Forgot halving where itll no longer be profitable to mine btc lol

Imagien being such a brainlet

1_All the miners have a reduction of 50% of their income in bitcoin.
2_Their electric costs remain the same.
3_They now earn 50% less
4_They refuse to sell at this price because they know everyone else doing mining is under the same situation.
5_Price starts to go up due to lack of supply in the market.
6_Eventually price does 50% increase and miners could be in the green again.
7_Speculation starts at what will the top price be.
8_Miners still refuse to sell because it could go up even higher.
9_Miners having different electric costs all have different breakeven price.
10_Price keeps going up as news spawn all over the world.
11_A bubble starts to form
12_Some miners start to sell to pay electricity
13_Bubble becomes insanely big
14_All miners start to sell.
15_Fees become massive
16_Bubble explodes
17_Price collapses 83%.
18_The new bottom where everyone tells bitcoin is dead is literally so big that years before it would have been considered insanely high and that it would never happen.
19_Bitcoin starts to grow again in the next halving.

GAME THEORY

>>15655072
oh and btw this time the bubble will not explode because we will reach the last asics at the peak of the bubble due to the moore law.

So miners will be dumping less coins than they ever did since they won't need to upgrade hardware anymore.

Will 0.1 BTC be enough to make it?

>>15655072
>>15655082
> ID: SeaPyLgs
What did he mean by this??

>>15654790
i'm a poorfag from eeu too but i lost more than that on bitmex

>>15655072
these kind of stupid posts will stop when btc is around 6k for the halving and drops lower afterward
miners aren't going to pay 50k usd a day in electricity costs to hoard them you fucking brainlet
>fees become massive
>nobody moves their btc from exchange
>no fees for miners
>miners flip the off button
>no more network
it's like corecucks have zero logic

>>15655128
Crypto holders Sailing fleet in 2025.

>>15654720
How much electricity is using the banking system?
Normies are peasant, we are the new elite

>>15655153
>miners aren't going to pay 50k usd a day in electricity costs to hoard them you fucking brainlet

Miners are making an income if mining decreases so difficulty it's called free market.

But you must be a bsv shill from the way you comment.
The good thing about the halving is that bsv will bleed as it's hashing rate becomes 0.05% of btc hashrate.

>>15655207
Also bitcoin asics will reach the moore law pretty soon , which means anyone will be able to mine from their houses if they close mining farms.

Since there will never be hardware upgrades anymore after that.

>Normies are peasant, we are the new elite

Unironically this.

>>15655198
LINK $1K EOY

>>15654630
Sold all my BTC for ethereum 2 weeks ago, look at the eth/BTC chart. This is the time to 2-3x your BTC stack

>>15654621
More security and with it more "faith" in the system. OP is a faggot though and doesn't understand the implications of the halvening on hashrate.

>>15654698
>all miners no longer need to sell to upgrade asics
Imagine believing this.

>>15654720
Mining gets more eco friendly every generation. Unless you listen to retards who say mining will eventually just stop upgrading.

>>15655907
yeah that's not plausible at all

where is the source that 'asics will reach moores law'?

>>15654698
>moore law

please explain what this guy means in how you would to a 6 year old

>>15655072
>what are operating costs

Miners aren't Saudi kings.

>>15654790
take out a loan blyat

>>15655153
dude... btc survived 2 halvings without a fuss, the price is roughly twice the profitability margin, any miner that enters now will not exit at the most predictable event in bitcoins lifecycle because they planned for it in fact they invested keeping the halvings in mind.

>>15655215
>Miners are making an income if mining decreases so difficulty it's called free market.
Which means less people are mining, which means the network has less hash, which is the topic of the thread.

>>15655215
you aren't looking at the issue at all, the issue is, as minted coins decrease, tx need to make up for the loss at a basic level to cover electricity, but tx can't increase. SO either price increases to 30k for no reason to save the miners or it dies and who is going to pump it and why?
and you're pic is gay showing $12k btc, post it again with $6k value btc and 6.25 block reward
>>15655227
you might get a block every 5000 years with your pi like the 500000 other pi basedboys, meanwhile you pay electricity bill from your wagecucking
>>15655977
>50 to 25
>25 to 12.5
>12.5 to 6.25
>it will be the same this time!
pic related
hash rate crash because negative profitability is coming

>>15656087
>hash rate crash because negative profitability is coming
bullshit. you fags still don't get it.

>>15656087
btw it's idiotic to measure mining profitability in th/s why not measure it in kw/s?

>>15656103
Hashrate might not be "priced in" so to speak, but profitability is entirely what drives mining.

>>15656113
This guy gets it

>>15655991
Which means the difficulty decreases and more people can mine for less electricity.

>>15656087
If anything mining profitability will increase once the moore law is reached and miners stop upgrading asics every few months.

>post it again with $6k value btc and 6.25 block reward

Won't happen because miners won't sell bellow electric costs which will cause a price rise.

Free market pajeet.

>50 to 25
>25 to 12.5
>12.5 to 6.25
>it will be the same this time!

Yes lower inflation = more price and yes it will be the same.

>>15656197
>Which means the difficulty decreases and more people can mine for less electricity.

Difficulty decreasing is a function of less people mining, nimrod.

>>15656225
>Difficulty decreasing is a function of less people mining, nimrod.

And the difficulty decreases until only the most competititve miners remain destroying old hardware asics in the process letting only the best in the system.

>>15654559
Chips get more efficient every year so even if there are less miners the hashrate will go up. Shit's stupid to talk about. 15IQ youtubers and outright shills are the only people that mention it.

>technology improves
>hashrate increases
But btc is now harder to attack? Sorry clowns it doesn't work that way. Bitmain is 100% the cause of this with their new product lineup.

>>15656261
Yeah none of that means an equal hashrate to what existed before or more people being able to mine. You're also beginning to contradict yourself because according to you hardware is about to top and everyone can mine.

>>15654698

>A qubit quantum teleports behind you
>"Heh, nothing personel kid."

>>15656288
There is absolutely no evidence that the "quantum computing" boogeyman somehow trivializes current hash calculations. And even if there was, BTC can switch to a new algorithm. There are already algorithms with idiosyncrasies built-in that foil qubits and the way they work.

>>15656320
i'm fairly certain that quantum computing is less efficient than an abacus and paper for hashing btc as far as costs go.

>>15656320
>BTC can switch to a new algorithm

So much for immutability.

Is there even anything wrong with quantum computing trivializing hash computation? All it means is that academics will be mining the BTC instead of pajeets

>>15657097
worr back da brockchain, roundeyes

>>15657097
The ledger isn't changed dude. Only the hash algorithm going forward. Technically the algorithm changes all the time to keep the difficulty level within the protocol-defined range so blocks are always mined at a consistent 10-minute rate. The number of zeroes required in front of the hash for other miners to accept the block.

Read
The
Whitepaper
Dumdum

>>15657097
>>15657227
Someone got dissed hard
Yes BTC will go to 100k
Yes LINK will go to 1k
Only people that have watched bitcoin from the start are convinced
Only people who can take a few steps back to zoom out on this universe's charts can understand
Honk honk motherfuckers

>>15654570
Imagine being ok with a tiny +300%. I'm in crypto for the +10,000% minimum #link

>>15657352
High reward with high risk, it's your money and your decision