/biz/ - Business & Finance

[Anonymous No.9832575]

HEY WAIT A MINUTE
MINERS ARE NO LONGER MAKING PROFIT
THEY WILL START SHUTTING DOWN THEIR FACTORIES
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

[Anonymous No.9832599]

>>9832575

BTC would need to go sub $3k before it stops becoming profitable to mine, and even then mining would resume when the difficulty decreases

[Anonymous No.9832601]

>>9832575
lol that's the last thing that will happen
mining is the best business on the earth if you calculate ROI

[Anonymous No.9832762]

>>9832601

[Anonymous No.9832779]

>>9832599
>when the difficulty decreases
Excuse me what

[Anonymous No.9832800]

>>9832599
its 6k faggot...

[Anonymous No.9832818]

>>9832779
The problem is you need like two weeks of mining for decreased mining count to adjust the difficulty.

But then the floor just drops to a lower price.

[Anonymous No.9832835]

>>9832575
Sounds like the bottom is a good time to get mining equipment at bargain prices.

[Anonymous No.9832839]

>>9832779

>he doesn't know
difficulty retarget can adjust down too. if there's not enough mining it'll make it weaker. the only real fear is if everyone stops mining before the retarget so there isn't enough hash power to mine blocks to ever get there, and that's where they get the fear of a literal chain death spiral.

[Anonymous No.9832907]

>>9832575
Unfortunately yes.
Luckily there is already a replacement that has been made.... and i'm not telling you /biz/
The only thing that will survive ETH.

[Anonymous No.9833124]

>>9832907
eos my nig

[Anonymous No.9833134]

Some countries it is 600.00 usd to mine

[Anonymous No.9833153]

>>9832907
LINK literally doesn't matter what happens to other coins LINK will just help what ever new coin becomes the next big thing.

$400 EOY

[Anonymous No.9833172]

>>9832575
>Tons of post-crypto GPUs and ASICs flooding the consumer market
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

[Anonymous No.9833193]

>>9832601
>mining is the best business on the earth if you calculate ROI
Shoo shoo nvidia shill

[Anonymous No.9833194]

>>9833124
>>9833153
hint both of these are wrong.
Yall niggas need to be thinking of actual solutions that BTC is gonna face.
Like how the fuck are we going to use a medium of trade if it doesn't exist.

[Anonymous No.9833213]

>>9832601
oh a fellow energy thief. sup.

[Anonymous No.9833217]

>>9833194
So invest in virtual vaginas?

[Anonymous No.9833235]

>>9833217
Like I would tell you.

[Anonymous No.9833269]

>>9833194
>Return
You're talking about an asset-backed crypto. Most likely by gold. You're not some genius, everyone knows about that.

[Anonymous No.9833271]

price needs to drop below 5k and stay there for few months in order to kick out retail miners from market

[Anonymous No.9833275]

>>9833269
Also wrong nigga.

[Anonymous No.9833312]

>>9833193
do your own research
the payback period varies from 3 months ~ 12 months

>>9833213
There are ways to get cheap electricity.

[Anonymous No.9833328]

>>9832800
You realise that electricity cost is variable, right?

[Anonymous No.9833332]

>>9833172
>asics flooding the consumer market
what would the buyer do with them other than mine bitcoin
nobody mines bitcoin with gpus anyway, so people dumping them wouldn't have any impact on bitcoin
just hold and don't sell the dip, you fucking spastics

[Anonymous No.9833331]

>>9833235
Like you know.

[Anonymous No.9833335]

>>9833312
Mining is literally a bigger risk than just investing.

[Anonymous No.9833350]

>>9833331
>You're talking about an asset-backed crypto. Most likely by gold. You're
OH I do though and I've told /biz/ several times but no more you fuckers gotta figure it out now.
I'll give you hint. ETH.
That's it good luck.

[Anonymous No.9833365]

>>9832575
Chinese have said they'd keep mining even at a loss.

[Anonymous No.9833367]

>>9833335
What risk?
You can still sell the graphic cards even if BTC goes down to 0.
In fact it's profitable solely buying graphic cards 1 year ago.

[Anonymous No.9833372]

>yfw price drops so much that you can mine bitcoin on your Dell laptop from 2001 with an integrated graphics card, a cracked screen and shitloads of limewire / kazaa malware hogging the CPU

[Anonymous No.9833389]

>>9833372
>more youtube videos on mining bitcoin emerge
>windows xp
>notepad
>Unregistered HyperCam 2

[Anonymous No.9833410]

>>9833331
Since I'm feeling generous I'll give you another hint. It's ASIC resistant and will most likely never be mined with ASIC because of its properties.

[Anonymous No.9833425]

>>9833350
OMG?

[Anonymous No.9833427]

>>9832839
>and that's where they get the fear of a literal chain death spiral.

Which is really dumb. It's not like thousands of bitcoin-network participants, developers, miners, exchanges, users, holder, would sit there and be like "welp, guess that's it, pack up up."

If the hash-rate would drop so significantly below difficulty so that the remaining miners would have to mine, idk, 1 year at a loss, we'd hard-fork, consolidating a few things at once, like a new mining algo, cleanly introducing some features etc.

[Anonymous No.9833441]

>>9833350
"smart" contracts lmfao
you may as well market a smart toaster at this pen

[Anonymous No.9833445]

>>9833425
It's non ICO based.

[Anonymous No.9833457]

>>9832800

global average is bout 7k

i have data from 120 countries

[Anonymous No.9833460]

It's ultimately true that less people will mine as the value goes down.

Demand is the basis of price, if no one is buying no one is mining and since bitcoin is shown to be weak i think most mining is finished.

[Anonymous No.9833468]

>>9833460
>applying old economics to new economics
boomer fuck off

[Anonymous No.9833485]

>>9833445
>>9833410
>>9833350
This is your 3 hints /biz/ happy hunting and may it bring you wealth.

[Anonymous No.9833498]

>mfw I have free electricity
>mfw any price above zero means mining is profitable
>mfw all the chinks turn off their miners and I'm the only guy left mining all the coins

[Anonymous No.9833520]

>>9833498
NEET go to school

[Anonymous No.9833521]

>>9833468

If you keep mining as the price drops it will be worth even less, accelerating it's implosion.

[Anonymous No.9833553]

>>9833441

Shit would be sick

>toaster pre-loaded with bread
>set up smart contract between toaster and your smart alarm clock
>alarm goes off - toaster is primed
>once you turn the alarm off, smart alarm sends data via oracle through the private toaster blockchain executing contractual conditions which pull two slices into the toasting bays
>you get up, go for a piss
>smart toilet detects piss hitting the toilet bowl, sends data to smart toaster
>smart toaster knows that you didn't just press snooze and that you are awake - tamperproof via sequencing DNA from your piss and comparing it with your DNA genome profile held on the toaster blockchain
>toast starts toasting to coincide with the amount of piss in your bladder, which it is kept notice off via API calls to your bladder piss API chip implant
>flush smart toilet - oracle carries out API call and feeds data to the toaster contract - your toast pops out

[Anonymous No.9833711]

>>9833553
What the actual fuck hahahah

[Anonymous No.9833860]

>>9833410
>ASIC resistant


is it XMR?

[Anonymous No.9833904]

>>9833427
If a new algo is forked in, assuming everyone abandons the old SHA BTC chain, BCH overtakes BTC in market value overnight.

[Anonymous No.9833964]

>>9833372
>>9833389
I would rejoice in this nostalgic pseudo-future.

[Anonymous No.9833972]

>>9833860
No XMR doesn't solve the problem that BTC is going to face.

[Anonymous No.9833982]

>>9833521
mining increases the difficulty which makes mining in general less effective, which validates an increase in price
you are so far off the mark that i have no choice but to call you a boomer, too

[Anonymous No.9834075]

>>9833485
Obviously 0xbitcoin but I’m surprised so few of these niggers even cared to guess it given your entirely too overtly generous hints.

Damn. Biz is in for a ride