/biz/ - Business & Finance

>>16403970
Zoom out in each halvening era boomer.

This is perfectly normal also new asics enter the market next week.

>>16404615
>This is perfectly normal also new asics enter the market next week.

The hashrate bubble popped in July 2019. All cryptos are getting less and less hash cycles everyday. Good luck with your halvening

>>16404662
1_I can smell your boomerism from here

2_The hashrate has grow all year with the exception of the last 40 days

https://bitinfocharts.com/comparison/bitcoin-hashrate.html

3_It has not grow the last 40 days because old asics are being removed to mine shitcoins like bsv with lower difficulty and new asics are being added slowly since bitmain is selling even better asics starting next week so a lot of miners have delayed purchases.

4_
>Good luck with your halvening

No need for luck , game theory is all that's needed.

https://bitcoinvisuals.com/chain-block-reward

>>16404704
>he's never been through a global recession

>>16404771
My country (Argentina) is about to enter a mega recession that will make usa 1929 seem like a comfy time.

I am considering getting a btc asic or building a randomX rig.
I am sure a first worlder does not know it but in recessions electric costs collapse due to lack of demand(notice how the ath price of oil happened before the 2008 recession).

If anything a recession will increase hashrate as mining cost go lower and lower for two years and once they bottom it's going to be because governments started to pump the economy(which will pump crypto).

So expect a massive acceleration in a hashrate during recessions.

>>16404704
>It has not grow the last 40 days because old asics are being removed to mine shitcoins like bsv with lower difficulty and new asics are being added slowly since bitmain is selling even better asics starting next week so a lot of miners have delayed purchases.

None of what you just wrote is true or make sense even. Bitmain getting rid of asics BEFORE having a replacement for them? Do you even understand how stupid that sounds?

>https://bitcoinvisuals.com/chain-block-reward
So your only hope is that the halvening will do something to the price? That doesn't have anything to do with game theory, crypto is all about luck and timing, nothing else.

>>16404704
>>16404662
Minor here,
I got the machines when the prices were like 60 bucks and i dont pay for electricity. It has already roi'd and im making a healthy stack every month. Free money bro

>>16404814
Bitmain uses new asics what i am speaking is that asics using smaller nm chips do more for same electricity so old asics go into the negative returns territory.

So yea the hashrate grows , stabilizes and grows , during that stabilization period old asics move to mine shitcoins.

>So your only hope is that the halvening will do something to the price? That doesn't have anything to do with game theory, crypto is all about luck and timing, nothing else.

Notice how you ignored the fact that even tough miners earned LESS BITCOINS they earned more in usd after each halvening.
Why?Game theory.

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 100% 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.

Also this halvening has a plus that bitcoin inflation rate will go BELLOW fiat and gold inflation rate.
Let me repeat again the fiat in which crypto is valued is going to lose value faster than bitcoin.

That last thing is something everyone is ignoring but that if you understand it will be mind blown.

>>16404798
Pretty interesting point about the electronic costs. Will be fucking hilarious to see btc moon during a recession. Mass boomer suicides hopefully.

>>16404848
So? You just got lucky, and that won't last forever.

>>16404855
I ain't gonna read that shitwall of text

>>16404861
In inflationary recessions electric cost go really cheap due to inflation destroying costs and planning(example venezuela).

In deflationary recessions like 1929 energy costs collapse due to lack of demand and you had shit like companies using food in steam trains instead of more coal because it was no demand for the food.

Both recession styles generate lower energy costs and will make the hashrate increase.

>>16404874
>I ain't gonna read that shitwall of text

Of course you don't boomer which is why your generation fucked up the west for a century when confronted by reality all your kind can do is do attacks of totally unrelated stuff to the things being discussed or simply ignore it and larp as superior.

Not much different to the kind of people that tough the internet was a joke in the 90s but this time you won't be able to hire someone to install microsoft office boomer.

This time we are changing the system and fixing 50 years of retardation.

>>16404798
No dude get an fpga blackminer

>>16404874
>Implying i didnt set myself up for success in the future
Keh

>>16404908
>fpga blackminer

Why?

>>16404855
>4_They refuse to sell at this price
Stopped reading there. Run a business, faggot.