How is BTC even profitable to mine currently? If the price stays like this for a long time or drops even further, wont it cause the miners to completely abandon and BTC to crash even more?It might create a snowball effect where alts will crash even further, ICOs will dump more and more ETH. most will vanish as they cannot sustain.
So for BTC to survive long term, price has to keep increasing to sustain the network, am i right?
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cost = price
every day there are 12800 new bitcoins mined, since there are no new buyers to buy up the newly mined coins and old holders with weak hands are dumping the downward spiral continues...
cost < market price, otherwise you are losing money
this is a "mist" market,
bitcoin is only worth what the next idiot is prepared to pay for it...
>12800
If it drops below $3800 it's kudos to bitcoin. It won't be profitable to mine anywhere
1
Barbados 100
2
Nigeria 82
3
Ghana 67
4
Brunei 63
5
Zimbabwe 43
6
Mozambique 29
7
Cameroon 25
8
Cyprus 25
9
St. Helena 25
10
Uganda 17
Bitcoin = Scam
>genuine brainlet detected
>if
Just a matter of time.
Haha guy's fucking retarded
Same question every day.
Look brainlet, most miners pay less than 5cents/kwh. Some pay less than 1 cent. The difficulty also goes down when some miners drop out.
So there's no fixed cost. So your question is retarded and you're a brainlet.
this brainlet cashed out 200k since last year
? why? they need crypto since they have shitty fiat.
What is difficulty adjustment
many have been pushing FIAT in to buy at these prices, and yet we have been just moving sideways this whole week.
Tomorrow is black friday, followed by a weekend...
what is adjusting only after 2016 blocks.
what is taking 1 month for the last difficulty adjustment when it usually takes 14 days.
what is that hash rate nose dive decline when are arent even halfway through the required amount of blocks to adjust.
what is taking not 1 month, but 3 months to get there because of the drastic decline of hash rate.
what is btc crashing even more in those 3 months.
what is profitability going down even more and miners abandoning in mass.
what is now taking 1000 year to reach a new adjustment because no one is mining anymore.
what is not being retarded.
Its due in 10 days you mong. The mining hash went down due to fags with shit tier mining equipment being priced out. Big minders are mining at less profit. once difficulty adjusts their margsin will go up and BTC will probably see a rally
it took 1 full month last time. the adjustment coincided exactly with the dump. coincidence? they want to kill bitcoin and they will achieve it. price drops, miners abandon, hash drops, adjustment takes longer, price dumps more and its over.
This really is do or die for bitcoin. Another dump could kill it. hashrate has dropped to 35 petahashes
could be so. estimates are 10 days. if they really do dump it hard based on that that is a very smart way to bring BTC down to an early capitulation
