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File: 35 KB, 780x438, pepefroggie.jpg [View same] [iqdb] [saucenao] [google]

Anonymous Sat Jun 18 20:45:59 2022 No.49793871 [Reply] [Original]

Retard here. if the price of bitcoin falls below the cost of electricity necessary to mine bitcoin do miners stop minining and the network becomes unusable of what?

>>	Anonymous Sat Jun 18 20:46:48 2022 No.49793919 >>49793871 Yes, also known as the mining death spiral.

>>	Anonymous Sat Jun 18 20:47:35 2022 No.49793948 >>49793871 There are some people who will mine anyway because they're building stacks long term.

>>	Anonymous Sat Jun 18 20:48:15 2022 No.49793995 >>49793871 It already did. Enjoy the show

>>	Anonymous Sat Jun 18 20:48:47 2022 No.49794018 >>49793871 Technically no because you will be forced to pay a fee per transaction then, which will cover the difference. Also known as "gas" for Eth.

>>	Anonymous Sat Jun 18 20:48:53 2022 No.49794026 >>49793871 No, if miners stop mining, the remaining miners get more BTC for mining

>>	Anonymous Sat Jun 18 20:49:12 2022 No.49794046 its basically the same thing as during each halving but price driven instead of network driven which means the price will go up

>>	Anonymous Sat Jun 18 20:50:12 2022 No.49794096 File: 77 KB, 500x751, 1581983137780.jpg [View same] [iqdb] [saucenao] [google] No, you annoying fucking faggots. ligma sneed Is that real? Locked my Trezor at $69,000 You can't cash out

>>	Anonymous Sat Jun 18 20:51:28 2022 No.49794158 >>49793919 mining death spiral is mathematically impossible

Anonymous Sat Jun 18 20:51:52 2022 No.49794184

>>49793871
No, retard. The electricity/computational required is contingent on the amount of miners competing for a block. There would be an inflection point as difficulty/cost of mining decreased whereby it would become profitable at that equilibrium/level.

>>	Anonymous Sat Jun 18 20:52:14 2022 No.49794204 File: 80 KB, 1028x658, 444-4442058_pepe-hands-up-gif-pepo-emotes.png [View same] [iqdb] [saucenao] [google] Don't worry, I just started mining on my old 2012 HP laptop, I will support the network on the way down.

>>	Anonymous Sat Jun 18 20:59:15 2022 No.49794566 >>49794096 Wtf is this guy in pic related doing, absolutely disgusting

>>	Anonymous Sat Jun 18 21:03:00 2022 No.49794770 >>49793871 Who cares? Noone transacts on the bitcoin chain.

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