Reminder that I predicted it couldn't go bellow 6k because that's the price of mining, and if it went that low, all the miners would start buying in mass
Reminder that it's exactly what happened, 6k is the price of generating 1 BTC and it will never ever be cheaper than that
Congratulations to everyone that bought at 6.2k, you basically got it as cheap as mining it
but it did go below 6k, some people bought at 5900
Never went below 6k on chinese and korean exchanges, which make up a huge chunk of miners
>6k is the price of generating 1 BTC
>electicity sells for the same price everywhere on earth
Ok
couldn't some people stop mining altogether thereby driving the cost of mining down?
/thread
And how did you arrive at that calculation?
Where's your credibility?
>in mass
en masse, you troglodyte
>still not understanding how mining works
>if only there was some way to change the difficulty of mining if miners started to pull out due to low-profitability
kek
>some people bought at 5900
it's not exactly 6k, it's somewhere between high 5k
5793 on gdax for me.
Literally brainlet the thread.
On average, mining btc isnt that costly. Should be around 1k or less
Shut up, tea nigger. I bet you're not even a tea nigger. I bet you're an americunt pretending to be a tea nigger.
lel
He's not wrong, you stupid nigger.
btc stupidly has stepwise adjustments for everything including dificulty. So when people make these stupid poasts you can assume they are talking about the next week or so. It adjusts every 2 weeks.
so it cant go lower that 6k huh? because everybody that owns btc is btc miner riiiiiiight?? so the price of a product is determined buy its cost of production and not by the price that people are willing to pay for it?
by*
im pretty tired here
$1k per Mongolian electricity cost, not $6k dude
and 1.5k in washington state
I'm going to listen to financial advice from the NEET fuck whose portfolio is down $33,000 in a day.
it's not his portfolio, dumbfuck
this. south korean moners are already in the hole right now- their cost of mining one btc is 8000+
and 400 in Venezuela
Its pronounced nigga you fuckwit
The price of producing one penny is more than a penny is worth.