>Mining at a cost higher than the cost at which you can sell in the futures market destroys value. So, any rational investor — even one who strongly believes the price of bitcoin will rebound — has no incentive to mine if the cost of mining is higher than the future price and is better off buying in the futures market. And unlike gold, which can retain its value even if mining activity stops, bitcoin can have no value absent the mining activity that maintains the ledger of who owns it. Absent the mining activity, bitcoin is a just a set of encrypted numbers with no value.
>1 Bitcoin equals $3,879.95 United States Dollar Dec 5, 1:40 >While there are many estimates of bitcoin’s cost of mining, most suggest it is close to $5,000 per coin. Estimated Loss per bitcoin mined: $1,120.05
Mining Bitcoin is now LESS than worthless. ergo: Bitcoin is DEAD.
Bitcoin is free to mine for asic using chinamen using hydro or solar power.
Eli Sanders
>Mining bitcoin is the same thing as owning bitcoin Look at this retard who doesn’t know what he’s talking about lol go shill on Jow Forums you goofy motherfucker
John Johnson
>trusting the crypto jew
Jeremiah Hall
Level of hardness will drop to a point where it's profitable to mine again and that's when all those farms will turn the switch back on. Jews are trying to squeeze the last of btc from normies before shooting it off to the moon
Ryan Nguyen
>bitcoin is a just a set of encrypted numbers with no value. So is the dollar.
Jaxon Robinson
>Bitcoin is DEAD. I've been hearing that since it it came out go shill elsewhere
alhamdulillah now i can build a pc without selling my house
Connor Miller
This
Jace Long
This. Fucking retards have no fucking idea.
Christopher Howard
Dollar is backed by the taxing power of the US government
Owen Sullivan
So is this the final coffin nail for the planned future of digital NWO currency mark-of-the-beast shit?
Matthew Long
>Bitcoin is DEAD Attention non-brainlets in this thread. What you are seeing here is called a "buy signal". Despite being down massively from all time high, I can promise you that Bitcoin is not "dead" nor is it dying.
I recommend reading into the possible global ramifications that cryptocurrency, cryptography, and decentralization can have. Look into smart contracts, and think to yourself how many trillion dollar megacorps are simple middlemen with a "platform". When you compare the current market cap of crypto with all other industry, assets, and markets, the ENTIRE cryptocurrency market cap is a drop in the bucket with plenty of room to grow.
I recommend owning some quantity of Bitcoin at a minimum, you really can't go wrong. Either: A - Bitcoin is a global currency and hits $1MM/BTC, or B - you lose out on $100 you probably would have lost anyways.
>Cost of mining at a loss >Big miners go broke as they can´t pay electricity >They sell asics to cover loss >Network becomes more descentralized >Moore law limits being reached in the next 3 years means the network has reached peak centralization >Mining descentralization means bitcoin is death acording to brainlet user.
The difficulty will adjust to become profitable. In the meantime enough people are motivated to mine just to defend their existing positions.
Nicholas Clark
im pretty sure that just means there are too many miners. once people stop mining it will become profitable again.that's just basic supply and demand.
Gavin Harris
So it's better to have it than create it? Supply and demand, retard. Wisj I had got some.
Jace Murphy
I've been waiting.
Christian Mitchell
Buy the fear. You are right. When retards are selling is when you buy.
Daniel Morales
don't forget with all the idle hardware around we are going to see a successful 51% attack soon
Sebastian Robinson
That will make less people mine it. Which will make the difficulty drop. Which will make it profitable again. Which will make people mine it again.
Juan Price
>That will make less people mine it. >Which will make the difficulty drop. >Which will make it profitable again. >Which will make people mine it again.
This. OP should spend more time reading and less time posting.
Oliver Clark
oh wow, you're so retarded
Austin Collins
>not realizing that the jews cant control crypto and thats why all of their central banks and other kike banks are speaking out against it
its you who is truly the kike.
Jace Mitchell
this is literally how it works. also just owning 10k Chainlink will make you a millionaire in a few short years.
No, there will just be fewer mining pools up until the chance of getting the rewards balances the current value of BTC.
James Brooks
this.
Parker Barnes
It's literally what everyone fucking does.
Kevin Moore
GPU mining BTC is long past dead dude. A 8 card 1080ti rig wouldn't even ROI within 4 years mining BTC. Everyone uses ASICs or FPGA
Christopher Lopez
Jow Forums pls go
Isaiah Gray
OP is unironically a brainlet tbqh
Caleb Scott
That's not how it works, once nobody is mining, the entire project stalls forever. But even if your theory were correct (it isn't), anticipated profits would evaporate instantly over-and-over again, so value would remain zero.
REMINDER: After Israel outlawed binary options trading industry, the thousands of scam artists in Tel Aviv all switched to hawking crypto currency, Anyone promoting crypto should be viewed as a scam artist.
Dylan Fisher
Too bad all the third world money launderers are done washing their dosh with crypto. This is what happens when you put value to something that's unregulated, intangible and digital.
i got a brand new zotac gtx 1050 oc today for 100€ from an official store, not used and not b-ware. felt pretty good. they only sold 5 units of it.
Luke Hughes
This so very much. Now I can finally upgrade. Or maybe wait for the next Geforce series to be released.
Matthew Jenkins
>being this new that you don't know that literal crypto millionaires lurk and post on Jow Forums
its you who are the turbo retard. Jow Forums was shilling ETH before it was ever worth anything, same with BTC and many many other cryptos that went somewhere. get in, or stay poor, bc we really dont care.
Justin Torres
Underrated
Landon Clark
I memba when buttcoin was worth a few bucks. I bought a pizza for user on /b/ and it was like 4-5 BTC lol. Wish I'd've saved em.
Mason Martin
So some miners will quit mining. So the difficulty decreases. So mining becomes profitable again. It's called equilibrium. Dumbass.
also excited to see this but i know the scammer faggot will never delivar
Landon Cruz
>So some miners will quit mining. probably even more miners will start because they want to make money in hope that it will go up again or just to make money at all.
Levi Peterson
When there are fewer miners, price of mining goes down. That's not huge concern for BTC. The big concerns are:
1. Normies don't use it because it's trash. 2. Dark net markets don't use it because they opt for a more anonymous coin.
The BTC has no value at all and becomes a cute little pet project some people maintain. Then, when it gets small enough, the government or someone with access to lots of computing power can just break it for fun, which might happen.
James Lopez
Wake up call for no-coiner brainlet faggots who cant into $money$ - pic related. 0xBitcoin is Bitcoin on Ethereum - its the only store of value that exists on the ETH network. It is easy to mine right now with GPU's and easy to get going to make a little extra money while youre using your computer. 0xbitcoin.org - for more information and to start mining.
No shit faggot, there's also a large majority (>99%) of people who lost a ton of money to pump and dumpers
go do a demographic poll of biz and tell me how many millionaires there are
Sebastian Phillips
You
Wyatt Kelly
This is a massive bull flag which means it's soon to buy. BTC will soon pull a reversal
Jace Sanders
If they want to invest, it is cheaper to buy than mine. It also takes less work and you also get the coins instantly instead of waiting and potentially losing those gains you want to make. So, no, this won't encourage new miners. Mining goes down until some equilibrium is met.
Isaac Hernandez
bitcoin is the greatest thing to ever exist prove me wrong: discord. /wTWt7E
Luke Campbell
Bitcoin died the moment they refused to scale on-chain.
>tfw mined 50btc in 2011 and used them to buy weed.
just fucking kill me.
Lincoln Robinson
i dont need to you fucking newfag piece of shit. im in all the Jow Forums discords and know more whales than there are posts in this thread. literally stay poor you dumb fucking redneck. not everyone is as fucking poor and as mega retarded as you are. btfo
Good, This is the reason vidya cards are so fucking expensive
Aaron Parker
so they will just start mining something else. i really really doubt that miners will stop. i'd predict that even more miners will start mining. have you ever talked to crypto-fans? they always keep believing in crypto, even if bitcoin would go to 100$, they'd still make up excuses and say that it's rigged and will go up again.
Cooper Roberts
read the greentext faggot.
Evan Ross
I never said it will stop. I said it would decrease until it reaches an equilibrium price.
Landon Adams
on avg it takes Bitcoin 1.5 years to reach a new all time high after it crashes.
Lincoln Nguyen
Buy the dip idiots
BTC will be 100k by next year
Angel Cooper
What is an bitcoin for
Blake Nguyen
And, by the way, I don't need to conjecture. I have proof:
its a store of value that kike bankers cannot control, game, or manipulate. its decentralized currency which has no debt attached to it like fiat does. its the only currency in the world right now that has actual value. go all in, the 4th industrial revolution is about to happen.
That doesn’t mean anything you fucking retard because “mining” is literally just having a computer set up to run the calculations for the transfer of bitcoin not the bitcoin themselves you absolute retard
and these shills, these jewish shills, still do not understand what bitcoin actually is about.... because.. they are stupid money grabbing juden after all
Nolan Campbell
i saw a guy one time send $137,000,000 in less than 30 seconds for the price of $0.17
cant do that with fiat, now can you?
>literally doesn't understand what a decentralized currency is
doesnt mean ppl cant pump and dump the price in organized groups - but that will soon be very illegal insider trading and the SEC niggers will be arresting the pnd fags
Friendly reminder that by using BTC you are supporting COMMUNISM!
China uses it's cheap coal to convert it into Dollars via Bitcoin. Idiot! They are communists. The Government don't pay for electricity. The people do!
kys. get that scam shit out of here. shilling your shitcoins to selol bags might work at Jow Forums, but not here retards.
Gabriel Stewart
What about if the price of electricity or electronics goes down?
David Scott
if anyone has this movie post it, hitler predicted alot of shit including the coldwar and then later were we are today the us vs china after what he must be so relivied over, when the russian have rid them selves of jewish communismn and embraced what will be pan-slavism….. not joking..... not once..
