/biz/ - Business & Finance

[Anonymous No.16248377]

>muh halvening will make the price magically go up because it happened before and muh scarcity n sheet!
https://bitinfocharts.com/comparison/litecoin-hashrate.html
what is happening to litecoin is what is going to happen to bitcoin.
do you think the people that hold millions and billions of dollars in bitcoin are going to just watch the hash rate go down and wait for the network to suffer a 51% attack?
next year all the smug coiners are gonna get obliterated off the map. good job sinking your life savings on a dying scam

[Anonymous No.16248391]

>>16248377
Good thing I'm in BSV.

[Anonymous No.16248393]

>>16248377
What did they expect? They won't increase the blocksize so miners won't get paid. They'll just drop the network. No one thought this shit through

[Anonymous No.16248464]

>>16248377
Cool tranny discord post brah. You da man.

[Anonymous No.16248476]

>>16248464
Cool Low IQ post brah

[Anonymous No.16248706]

>>16248377
Not the same as litecoin. Scrypt isn't an algo which is heavily invested in for Asic manufacturing.
>>16248393
This doesn't make sense.. Each block found a usually has around 1 extra btc worth of transaction fees for miners to earn. It was profitable for people to mine when blocks were 12.5 at $3000 ... so in theory it just needs to be $6000 to be profitable after the halving.

[Anonymous No.16248770]

>>16248706
It will remain profitable for some, but not for everyone doing it now. For BTC to maintain it's hashpower it needs to be double it's price. Maybe even more because more hash came online during the run-up.

[Anonymous No.16248822]

>>16248377
*AHEM*

https://twitter.com/woonomic/status/1192316072533229568

[Anonymous No.16248838]

>>16248706
The majority of the money the miners get comes from the PRICE of bitcoin, which is effectively being halved. Is this not simple shit? Miners will drop out of the market now

[Anonymous No.16249416]

>>16248377
>>16248838

The block reward being cut in half also cuts the selling pressure from miners in half.

If it becomes unprofitable to mine and miners drop out of the market, all that will happen is that mining difficulty drops and makes it so you need less hashpower for mining to be profitable. Mining difficulty keeps dropping, lower capital investment miners come online again, and mining becomes profitable for them. An equilibrium is always reached

[Anonymous No.16249962]

>>16248377
But litecoin went up bigly b4 its halving

[Anonymous No.16250577]

>>16248377
11 years and I still have to see shit like yours

[Anonymous No.16250601]

>>16249416
Yes but the problem is hash going down. It'll find equilibrium at a lower level of security. Bitcoin should be making up the difference with fees to keep hashrate at a steady climb or at least level.

[Anonymous No.16250664]

>>16248706
>>>16248393
please this dude is full of shit BTC is the most profitable coin to mine. Don't let scammers convince you an altcoin is more profitable than BTC. They have to cherry pick a small sample to twist your perceptions. When you mine an Alt you have to hold or sell that alt for something more guaranteed like BTC or USD.

I shill alts here all day but I leave out the part where I do it to stack BTC. I need you guys to buy my alts first, sorry

>>16248838
They could just raise prices, or sell less BTC.
The miners were profitable at $3k you idiot, this year, they're taking profits at $12k was to allow a safety net, they were waiting for a big pump like that and they took advantage.

>>16249416
Miners are going after IPO's again, they're looking healthy if they were in BTC
>>16248377
poor guy, you're full retard
You don't think the amount of new BTC coming into the world matters?
The FED would love for you to run the money printers. Turn them on and never stop, right?
>>16250577
Based old timer has heard BTC died too many times

[Anonymous No.16250803]

>>16250664
Well said. Hear, hear!