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12104995 No.12104995 [Reply] [Original]

https://coinnounce.com/when-will-bitcoin-return-to-overcome-2017-highs-bitcoin-miners-going-bankrupt/
>More than 100,000 individual miners have shut down their operations and have been closed, and around 1.5 million servers have been shut down since September 2018.
>According to analysts, a majority of the miners can profit only if BTC trades above $4500 level. As of today, only very few miners can afford to stay in the game, specifically those who have access to very low-cost electricity.

>> No.12105000

>>12104995
the turds needs to be flushed. it's that simple.

>> No.12105002

YEAsssssdd

>> No.12105012

What about the 51% attack. Brainlet here

>> No.12105022

So buy now?

>> No.12105029

>>12104995
Imagine having to close shop when your business means of liquidation isn't accessible for a week.

>> No.12105067

>>12104995
The difficulty will adjust and it will become profitable again. You could mine this shit 10 years ago. Electric rates haven't gone up that much.

>> No.12105076

>>12105067
>it will become profitable again.

Mining has never been “profitable” throughout it’s entire history.

>> No.12105127
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12105127

>>12105067
>The difficulty will adjust and it will become profitable again
And then a couple of Chinese miners will flip the switch on their mothballed equipment and 51% attack away everyones coins

>> No.12105156
File: 36 KB, 655x527, 1508487891475.jpg [View same] [iqdb] [saucenao] [google]
12105156

>>12105076

>> No.12105180

>>12105076
.

>> No.12105188

>>12105076
How much of a retarded cuck do you have to be to think this.

t. still profitable miner

>> No.12105207

>>12105188
Prove it

How much did you spend on equipment?

How much equipment?

What electricity rate?

What you are mining?

How long have you been mining?

>> No.12105273

>>12105207
The greatest proof is people have been mining this shit for 10 years and clearly they had an incentive to keep going, no one is going to throw away money for years.

>> No.12105624

>>12104995
Thank fucking god, finally, holy shit. I hope all the moonkids and deluded idiots get fucked, call crypto a scam, and kill themselves. 2017 was retarded, and if crypto is worth anything, bitcoin will return to a reasonable level, while projects that were able to keep developing during the bear market survive and see slow growth after this speculative shitshow is over.

>> No.12105630

>>12104995
you realise that the more peoples stop mining the more profitable it is for the one who stay

>> No.12105649

>>12105630
Yes i am aware of how supply and demand curves work

The equilibrium has shifted

>> No.12105665

>>12104995
>gooks going bankrupt

dude nice

>> No.12105683

>>12105273
This this this

>> No.12105689

>>12105624
What is a reasonable level? You want Bitcoin to be a global currency yet get scared at the idea of trillions of dollars being moved around with it. If Bitcoin is going to have any use as a global currency it HAS to be worth a shit ton to be usable as the supply is too small to move significant amounts of money around without a high value per coin.

>> No.12105751

>>12105689
>muh bitcoin
lmao

>> No.12105857

>>12105751
Well either you believe in it or you don't. But in a world where trillions of dollars are moved everyday, a global currency divided by 21m requires alot of value per unit to do daily commerce.

>> No.12105922

Oh my fuck, it's called
Mining for a fuckin rasin simply because it is very close to real mining of minerals. Companies mine precious metals and if the market is too low, they store them until the price is right.
Exact same instance as bitcoin mining.
The drop is hash rate is so that mining becomes more profitable. Less miners means higher reward. They are just shutting down a percentage of operations because it cost them less money to operate and as hash rate declines, rewards increase and thatll give them a huge boost once they flick the on switch.

Your like a bunch of fucking junkies.

>> No.12105944
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12105944

>>12105076

>> No.12105945

>>12105012

Very unlikely to happen to bitcorn, but random shitcoins like vertcoin already got 51% attacked to death.

All that trash hardware sitting around, not doing anything. Few shitcoins have any mining. A single chink with a barn full of 2017 miners can easily kill whatever coin he wants to kill.

>> No.12106011
File: 1.16 MB, 1600x1200, vintage bitcoin mining rig.jpg [View same] [iqdb] [saucenao] [google]
12106011

>>12105922

Actually, the chinese and nipponese throw their junk on the streets, turn it in to the government for the scrap metal value in salvage, or sell it to dumb white 'miners.'

2 seconds on google will show you what it looks like when a chink mining company dumps. Western miners don't do it like this. Their CEOs pretend they don't get the bills, hop on a plane to whatever island nation's on clearance, then you never hear from them again. Literal real life exit scams, and the 'mining towns' are the ones holding the bags.

Also imaging hundreds of thousands of monstrosities like pic related sitting hidden away in various warehouses, offices, barracks, computer labs, and even laundromats. They just sit there, generating nothing. Wasting electricity for years and years.

>> No.12106040
File: 149 KB, 848x500, flodisrupt.png [View same] [iqdb] [saucenao] [google]
12106040

Fresh off the press: December 13th

https://medium.com/@valueprop/flo-tzero-and-how-the-dlr-aims-to-disrupt-5bd34634f928

Will you take 5 minutes to enhance your life?

Pajeets sit as wage cucks all day but won't take 5 minutes to enhance their brain capacity. Even if 1/100 articles was worth their time, it would give them the slightest chance to gain financial freedom.

Wake up.

>> No.12106084

>>12105127
>And then a couple of Chinese miners will flip the switch on their mothballed equipment and 51% attack away everyones coins

Imagine being this retarded.

>> No.12106100
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12106100

>>12105076
>he thinks like this throughout his miserable life

>> No.12106119

>>12104995
I'm feeling good today
Not lost not blown away
I hear the sound of my heartbeat
Why everything's so tame
My life is so insane
The world has turned into plastic

Tomorrow may be another day, carry on
It's my turn the fire's burning deep inside

ITS TIME FOR A MIRACLE
Streaming blood into my veins
You're some kind of miracle
Rockin power from the dark
ITS TIME FOR A MIRACLE
Save from the deepest void
You're some kind of miracle
Floating shadows in the air

I feel you over me
More than a fantasy
I hear the sound of your breathing
So why I'd feel the shame
God no one is to blame
The world has turned into magic

>> No.12106232

>>12104995
Fucking subhuman gooks, slavs and poojets will still be able to keep mining Bitcoin. Electricity in their shutter shitholes are cheap as fuck.

>> No.12106256

>>12105022
In january

>>12105012
The network reached peak centralization and has been becoming more and more descentralized , that with moore law limits means that never again an asics company will have a monopoly of the top mining hardware.

So a 51% attack is less likely now than ever.

>> No.12106272

>>12106232

No, they won't. Most of the shit that's insta-dying is chinese.

>> No.12106284

>>12105076
Maybe you should show your working. I'm a Bong and I'm making $0.10 daily of pure profit

>> No.12106298
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12106298

This is good, we need to go back to 2017 levels to save the planet.

>> No.12106323

>>12106298
No-one's falling for your Plebbit-tier b8

>> No.12106395
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12106395

>>12104995
STIFFED!

>> No.12106500

>>12104995
WEK HANDS BTFO

>> No.12107438

So, if you were to buy BTC now as the number of miners decreases, does that mean the value goes up due to supply decreasing?

Complete novice, here.

>> No.12107511

>>12107438

Buying now is incredibly stupid.

>> No.12107566

>>12107438
Mining (hash power) always follows price not the other way around!
Bitcoin has an automatic difficulty adjustment every 2000 blocks, so it will always be profitable to mine.
We can't get any price information out of this though, BTC could go to tripple digits or it could moon to new all time highs, nobody knows, but whatever the price does, there will always be miners.

>> No.12107587

>>12107511
>buying the bottom is stupid xDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD

>> No.12107623
File: 45 KB, 740x468, shitcoin the actual weight of crypto bags.jpg [View same] [iqdb] [saucenao] [google]
12107623

>>12107587

>muh buttom.

Throw money at something that could swing harshly in either direction. It'll work out great for you.

You should also pick up some of those discount vintage mining machines from the chinks. They're doing clearance sales to celebrate how great business has been lately.

Or you can pick discarded trash machines off the streets. It's literally free money. You're unstoppable. You can never lose.

>> No.12107632

>>12107511
>>12107623
hey moishe

>> No.12107648

>>12107623
>muh time the perfect bottom price
shut the fuck up retard. Why do big guy wallets just increase and increase? And why do mongoloids like you sell low? Buying around 3k is not incredibly stupid you ignorant nigger

>> No.12107675
File: 1020 KB, 368x640, chink_miners.webm [View same] [iqdb] [saucenao] [google]
12107675

DUMP EET

>> No.12107698

>>12104995
You gooks. Only smart miners will survive. I will literally give you the fucking golden key to be successful at mining.
1. Have a lot of fucking money to dump into mining.
2. Get renewable energy to lower the amount of power you are pulling from the grid. I'd recommend a solar.
3. purchase a old Steel mill or former plastic injection molding place. These places are dirt fucking cheap and already have the power infrastructure in place. Fucking IBM is for sale for 900k in Kingston and Fishkill NY. They were worth 250 million in the '90s
4. you can either buy s9's for $120 from China or clean out other miners for dirt cheap.


I am a broke wage slave who can't afford this. if anyone has money and wants to partner up hmu discord Black#0055

>> No.12107852

Get fucked.

This is the gamer's revenge.

>> No.12107953

>>12105029
and the hardware you used is fried to oblivion

>> No.12108002

>>12105689
>If Bitcoin is going to have any use as a global currency it HAS to be worth a shit ton to be usable as the supply is too small to move significant amounts of money around without a high value per coin.

If Bitcoin value needs to be pumped to astronomical levels in order for it to be used as currency then it has already failed for that use case.

You can already move currency around with existing stable coins like Tether. Bitcoin isn't doing a better job than these coins are doing.

>> No.12108299

>>12108002
tether are you out of your mind would trust that with anything over a 100$

>> No.12108348

>>12108299
People have been spreading this FUD since Tether first came out, but it was Bitcoin that imploded. The only crazy people are those who are still holding Bitcoin.

>> No.12108513

>>12105273

Bitcoin has never been this expensive, your argument is invalid.

>> No.12109335

>>12104995
good
more money for my 1080ti

>> No.12109358

hash rate is still 2x over jan 2018
what does it mean?

means all the guys ordered and got their miners late. or they were speculatively mining expecting corn to go back up. any other reason?

>> No.12109441

>>12106011
lol what are those retarded USB rigs for?