/biz/ - Business & Finance

[Anonymous No.9997152]

Ok, serious question: Are we not below the average mining cost at this point?

[Anonymous No.9997173]

>>9997152
It will never go below mining cost. Once it gets close, some people will stop mining, allowing those who remain to continue to make a profit.

[Anonymous No.9997196]

Maybe, but it's also possible that the people who do onchain transactions could be OK with miners running at a loss. Who would mine then? Well, probably less people but as long as those who do onchain transactions believe their transactions would be eventually verified they may not care about a slower transaction speed. Also consider the possibility of hidden ASICs.

[Anonymous No.9997261]

I saw a chart that said the cost in electricity to produce 1 bitcoin in China is about $3200 that’s just electricity.

[Anonymous No.9997267]

>>9997152
Leafs are dumping

[Anonymous No.9997295]

They're not gonna stop mining theyre gonna hodl their coins till it goes up again. Duh.

[Anonymous No.9997627]

>buttcorns has to continually increase in price or the network just fucking dies because no one mines

BRAVO NAKAMOTO

[Anonymous No.9997639]

>>9997627
That doesn't actually mean that more money has to infinitely flow into the system, though, only that the price has to increase. It's a deflationary currency, so this is somewhat expected.

[Anonymous No.9997721]

The lower it gets the less selling pressure from miners occurs as more countries drop past the profitability threshold, some miners will mine at a loss knowing BTC will be higher at a future date and some will redirect their hash to something else. The latter is what has a greater direct effect as this in turn reduces the network hash rate which will effect the next difficulty adjustment reducing it more and more. So effectively passing the mining profitability threshold leads to lower hashing which leads to lower difficulty which allows for profitable mining at lower prices and that's the cycle. So selling can carry on but the mining profitability side of things has a similar effect to normal market forces meaning the lower it goes the harder it is for sellers to maintain those depressed prices.

[Anonymous No.9997762]

>>9997721
Its worth noting that difficulty is still always going up because the network is growing healthfully, hash rate is basically 3x what it was in December.

[Anonymous No.9998031]

>>9997639
>It's a deflationary currency, so this is somewhat expected.

If you are interested in stuff, that will not get more and more with time, I have some papers I used to draw on when I was below the age of ten.

I will never be below this age, so there is a fixed amount of said papers. My mother is selling them for $2,000 per piece.

[Anonymous No.9998431]

>>9997152
Most miners are in China. Considering average cost there is $3k, you're very far off and most likely convincing yourself that it won't drop down further in the delusional hopes of salvaging your investments. Accept reality and stop being so delusional you nigger.