Tomorrow, the difficulty will rise another 10%, making mining 10% less profitable for at least two weeks. It is 8.2 times higher than it was last year at the time.
If you mine at about $0.08 electricity costs, your break-even is at $3k. It will rise to $3.3k
$0.11 per kw/h? $4100 rises to $4510 $0.14 per kw/h? $5250 rises to $5775 $0.17 per kw/h? $6320 rises to $6952 $0.20 per kw/h? $7450 rises to $8195
Nobody mines to secure the network, the miners want the rewards, which they want to sell for cash.
Will it get ugly tomorrow? No, most likely not. Will we witness a rektening this year? Hell yeah!
That means miners will set a higher floor, which leads to nothing else than a rise in btc value what we have seen in the last few days
Julian Mitchell
>increased costs of production means price will go down and miners will panic dump
Brandon Edwards
>Will it get ugly tomorrow? >no We will see >Will we witness a rektening this year? Yes, we have to deal with a new species in crypto. Old money, they like to buy cheap
James Reyes
>That means miners will set a higher floor Cost of production do not equal value. If you think otherwise, I would like to offer you a piece of shit I produced after eating a $80-steak yesterday.
Isaiah Rogers
This is seriously the most retarded shit I've ever read
If you think any miner producing any serious amount of coin hasn't already projected difficulty increases and factored it into their cost model, you are beyond deluded. This will cause the price to go up if anything. Simple economics.
Gabriel Taylor
Basically what you define as "floor" is not a floor, but a ramshackle roof that collapses, as soon as you set your feet on it.
Hudson Parker
yeah sure, miners are impulsive dumb-asses that cannot think long term
Jace Smith
Who said anything about value? We are discussing equilibrium price. Pls take econ 101 if you think increased costs of production will cause miners to drop the price.
Parker Allen
>If you think any miner producing any serious amount of coin hasn't already projected difficulty increases and factored it into their cost model, you are beyond deluded. So you think they predict the future? Funny.
>This will cause the price to go up if anything. Simple economics. See - cost of producing does not equal value.
