MINING BTC BREAK EVEN POINT IS 5K TO 6K (DEPENDING ON ELECTRICITY COSTS)
IF IT DIPS MUCH FURTHER MINERS WILL GO OFFLINE AS THEY WILL BEGIN TO LOSE MONEY (ONLY THOSE WITH THE CHEAPEST ELECTRICITY STAY PROFITABLE) BUT EVEN THEY WILL GET BTFO IF BTC LOSES ANOTHER $950
THIS IS IT, IF BELOW 5K DUMP AND GRAB AT 250
Citation needed my nigga.
this. some of those gooks in mongolia who literally burn dirt cheap coal for btc can probably survive until 4ish k tho
protip: buy eth
How did BTC exist prior to late $2017?
Not like anyone is actually using Bitcoin anymore so what do we really need the miners for anyway?
>Wut are difficulty adjustments
Yeah and this would be a huge disaster for BTC since it doesn't get a difficulty update for a loooooooooooong time.
If BTC drops below 4K we are going to see GIANT transaction fees as they will be the dominant incentive for miners.
We went over this yesterday. The break even point is 2.5k.
nicehash.com
Nobody has time to make a picture book for niggers to understand. BTC difficulty readjustment takes around a month. If BTC drops below a certain point it stops being profitable which causes the network to collapse until difficulty readjusts. Should have sold a month ago, groid.
your typical Veeky Forums investor, ladies and gentlemen
>s9's are the only type of miner on the network
um sweatie...
its actually 1.2k
Pretty much.
>everybody is charged the same rate for electricity
amazing
Thank fuck. I've been waiting forever to buy a new graphics card.
Big miners don't just have electricity costs to compete with. Big miners have much more overhead than you might think. Mining operations create a lot of fucking heat. Buildings aren't free, and neither is cold air. (depending on geography)
Chinese miners who submitted fraudulent business licences to mine crypto are getting shut down. Hippies running their miner on solar account for .0001% of the total hashrate.
t. chink who dumped on you when 10k broke
>pretending 98% if the hashrate isn't centralized in China
Realistically 1.3k for China and 2.5k for the usa.
Not to mention the stupid fucking waste of energy resources. Good riddance.
>MINING BTC BREAK EVEN POINT IS 5K TO 6K (DEPENDING ON ELECTRICITY COSTS)
NO. Less miners - easier mining
>8 of 10 biggest pools are Chinese
>their fees are pretty much at same low cost
no one cares about amerifat or europoor pools anyway. They have a little impact on bitcoin.
...
Enjoy the raped card at 2x the price. Normies who bought cards during the bull run are going to run them at least until ROI. You're still fucked (if you can call paying a little more for a mario card fucked)
Mining was massively easier and faster then. You didn't need a specialized mining farm then, you could just have your regular consumer PC idle it on the background.
Another reason why BTC is a scam: the earliest adopters have almost all of the coins that exist because they could mine so cheap.
>Normies who bought cards during the bull run are going to run them at least until ROI.
They're never going the reach a point of ROI, they will literally lose money for every second they run because the electricity costs more than the coins they'd get.
>not making at least 1000% off an obvious and inevitable bubble
Wow you're so smart.
>Normies who bought cards during the bull run are going to run them at least until RO
So until 2030 then?
If people stop mining, wont transactions take longer and longer to clear?
Then the price will even further.
Death spiral.
Nobody said normies are smart
E T H
T
H
that's the point. it is a vicious cycle
Bitcoin does have a difficulty adjustment though. As people drop out of mining it should get easier for those who remain.
But how fast break even point will go up considering increasing mining difficulty?
C
C
C
CCCCCCChecked 'em -- you're right, there is a changeable difficulty setting. this post is satire/ironic. go the fuck back to plebbit, retard.
>0.1 USD/kWh
Right, good luck keeping the euros on board.
ARE MINERS PUMPING THE PRICE BY USING THEIR BOT FARMS TO TRADE WITH EACH OTHER AT OVER THE MARKET VALUE?
rude
>
The term is "zero day" boys, and the average electricity cost is around 2500-4300 depending on location and other variables. The BTC difficulty was just increased today, next difficulty adjustment is in 2000 blocks.
E T H
T
H
please keep falling
Good. Europe doesn't contribute shit anyways.
>The BTC difficulty was just increased today
No not yet, but around half a day from now, it will be increased.
fork.lol
reason is the difficulty is up higher now then it was when it was this price earlier, plus difficulty adjustment for btc tomorrow too.
HAHHAHAHA THE FLIPPENING IS SOON. BCASH CAN DIFFICULTY ADJUST QUICKER THAN BITCOIN CAN. YOUR COIN IS DEAD
if people stop mining itll become more profitable from difficulty adjustment
Why aren’t the Russian’s running servers in Siberia and using Mother Nature to chill their rigs?
god i fucking hope so
I've wanted a new GPU forever and can't afford it because of these fuckings faggots making the price triple
I wanted citation on the price. Not the explanation about why that could happen.
Please don't be rude to me during a crash desu
they do
but still no direct snow contact, so cooling hardware and warehouses are still needed
>Please don't be rude to me during a crash desu
just precious
The funny thing is that if miners begin to lose money and thus stop mining, then we will never be able to lower the difficulty which will cause a chain death spiral (cointelegraph.com
aus fag here and i pay 16cent aud not fucking 29c usd
Ausfag here. We pay 0.29 AUD retard
you dont get the difficulty adjust when some miners leave
i pay 16.5cent
enjoy taking it in the ass
>Mining was massively easier and faster then
6 months ago?
suck my dick faggot
>f miners begin to lose money and thus stop mining
durrr, but wouldn't just 1 miner want all the money since the difficulty would adjust to make it profitable. I can't believe BTC Satoshi never saw this coming
You don't get it.
I will mine out of fucking spite.
I will figure out how to run the miner on my shitty CPU and mine the fucking thing.
I'm pretty sure that I'm not alone.
Wouldn't whatever the breakeven point is be the true barrier? It limits the number of coins, if there is no one mining, forcing the price back up, miners jump back in, rinse and repeat.
this
do you think we wouldnt be able to finish the block and start mining at fucking low difficulty after?
I'm with you man
Would the block confirmation difficulty adjust to a 2+2 is 4 - 1 thats 3 quick maths model
Exactly. And how long do you think the Chinese miners on hydroelectric can keep going?
Chingchongs are gonna make out like bandits in this thing.
It's not just one block, it's like 20000 blocks between difficulty adjustments. Note also that ASIC miners are way more energy efficient and thousands of times faster hashing than PCs.
Face it, the only way to bring the miners back (until readjust) would be massive tx fees.
is the following scenario possible?
>big miners leave
>small miners struggle to mine 20k blocks
>finally 20k mined -> difficulty lowered
>big miners come back to rape them and leave after 20k
>so on and so on
they steal the fucking power to run the rigs i think you can forvet electricity costs.
>MINING BTC BREAK EVEN POINT IS 5K TO 6K (DEPENDING ON ELECTRICITY COSTS)
its fucking $3000 TOPS in the usa you daft cunt
possible but the devs can do a hard fork with the remaining miners. death spiral is unlkely worst casr bcash becames the real btc.
FINALLY I can build a new PC.
Rest in shit you fucking GPU whoring cunts.
then its truly around 1k tops in chinkland if you are correct.
GPU mining viability for bitcoin was thrown out the window in 2012. In fact its the /only/ reason shitty altcoins gained traction in the first place, because hobbyists couldnt afford ASICs but still had their builds to pay off. Its an ASICs game.
You don't mine bitcoin with GPU's you dumb grot.
btc and gpu mining was not a thing since lkke 2011 or someghing.
Dude, its not a scam if you KNOW those facts. A scam must entail dome sort of deception, right?
Then FUCKING REEEEEEEEEEEEEEE
WHY ARE THE FUCKING CUNT MANUFACTURERS SCREWING US
This was a hobbyist thing before it became a libertarian thing. Then it was a black market thing. Then it became a mining industry.
BTC is just going back to its roots. Also,
bch:
eda
no segwit
no block cap
jihan wu about to dump all his btc for bch
>less miners
>difficulty decreases
>miners get better reward
>miner join again
>cycle repeats
money, son.
because gaymer faggots mine other shit with gpus
they mine sick graphicss
MINE THE DIP!
...
>december 2017
he really got screwed
also he is renting a place etc with some asic miners instead of getting GPUs
what an idiot
he will make his money back in a year even if btc goes to $2000
if he holds and continues to mine, he will be retired by 2020.
>instead of getting GPUs
what? asic>gpu, gpus are for poorfags mining shitcoin of the week
That's good for ethereum and bch
I think you fucking dreaming
also GPU have a better ROI than mining with ASICS
>miners are the ones doing the shorting to hedge against bitcoins dump
>all the while accumulating their mined coins for the next bullrun
Seriously depends on when you buy them.
If you bought an Avalon 741 unit in November and had it running it would have already paid it self off by now if you spent $1,500. but now its about a year and that's basically most GPU ROI.
yeah the article is from december 2017 with looks like some low end asics
ok, now I know why he is screwed. He fucking bought dashcoin miners.
Only super profitable upon release then they just got resold. but if bought in December really screwed.
the S9 would have been a better pick since it actually mines bitcoin
whats the best asics miner for about $3k right now? i might be crazy be willing to get one or multiple. budget $3k
Difficulty adjustment takes a huge amount of time to react to the market.