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17804414 No.17804414 [Reply] [Original]

So block rewards will halve while the price also halves quite literally. It seems that a catastrophic collapse in the hashrate is inevitable.

What will happen to crypto in the next few weeks? I’ve never felt such existential dread for crypto, ever, and I’ve been around since 2015.

>> No.17804478

This on top of more corona bad news to come, and it has proven to fail as a safe haven in spectacular fashion. All the billions invested into bitcoin infrastructure was completely predicated on exponential price growth that WILL NOT materialize.

>> No.17804528

Nothing. Uncompetitive miners will turn off and eventually new equilibrium will form. Idiotic fud

>> No.17804552

>>17804414
2015? Then fuck off, newfag

t. 2012fag

>> No.17804570

The opposite of whatever you decide on

>> No.17804596

>>17804528
These fags will never accept the evidence, they'll be bringing back the same death spiral fud in 2040 and ignore every time they were proved wrong

>> No.17804599

>>17804414
>nervous fag writes blog
COOF COOF COOFFFFF!
just gave your mom lung aids. sorry fag, didn't need to be like dis....

>> No.17804610

AUTIST WHALES PLS HELP US

>> No.17804640
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17804640

Have you been living under a boat the last 2 years?

>> No.17804668

>>17804414
yeah it's true there's not really much left to believe in
only hope is that it's going to rebound once corona situation is fixed but that will probably take months

honestly if you didn't sell yet then just keep holding if you can accept that you're not going to see any gains for months, because once situation goes back to normal the fundamentals will still be the same for crypto

>> No.17804746

BSV will happen. Why are you stupid fucks still in BTC? This is just like corona. Heads in the sand then all of a sudden there's no shit roll and you're selling your ass to the local warlord who in this case is creg.

>> No.17804940

>>17804414
Except because energy is cheaper now.

>> No.17804991
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17804991

>>17804414
BSV and BCH will have a slight pump prior to halving then crash sub $100 after.
BTC will have a big pump 3-4 weeks before halving so the miners can dump the old hardware on normies making it look profitable to buy. Then it will crash down post halving, and slowly resume the bull again.

>> No.17805031

>>17804746
Imagine buying a con artists fork of a con artists fork.fk off pajeet

>> No.17805350

>>17804414
Gamers everywhere rejoice in a sea of cheap graphics cards

>> No.17805420

>>17805031
Imagine being stupid enough to defend an asset which has almost no utility because of the artificial block limit (BLOCKstream hahahaha!). The second layer solution is shite. Miners are going to switch. They don't care about corecoin, only profit. Enjoy your worthless bags.

>> No.17805592

>>17805420
All of Bitcoin sucks. BCH, BSV, and BTC. Not one of them is flawless.

>> No.17805622

>>17805420
this desu

>> No.17805656

Proof of stake will happen. POW is not sustainable.

>> No.17805686

>>17805350
Bitcoin hasnt been mined on graphics cards in YEARS. The fuck are you smoking?

>> No.17805693
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17805693

>>17804596
They already pulled the plug

>> No.17805701

>>17805420
they care about profit, yes. thats why btc hashrate amounts of 98% of the total hashrate. bsv is out since 1 1/2 year and did nothing

>> No.17805734

>>17804414
Honestly, get out of every market (as of now). This whole coronavirus situation, feds pumping the US economy has caused mass panic, hysteria to many people and institutions. BTC will drop even further before recovery which will happen perhaps 1 month prior to the halving but keep in mind that is only if the coronavirus pandemic doesn't worsen. The US stock market has been trading like a shitcoin lately, nobody would like to be a part of this current volatile market, the risk outweighs the reward, epsicially for the ordinary investor without much experience or knowledge.The chinese people are the majority of the miners. Sell for now and read the news and keep a close eye on the markets, buy later.

>> No.17805736

>>17804610
All you have to do is follow the damn white paper

>> No.17805791

>>17805656
imagine not understanding how proof of work functions
https://nakamotoinstitute.org/mempool/the-proof-of-work-concept/
>When a person upgrades their mining computer, they mine at a faster rate and therefore earn more bitcoins. However, when everyone upgrades, the mining does not become more efficient as a whole. There is only supposed to be one new block every ten minutes regardless of how hard the network is working. Instead, the network updates the difficulty to require more stringent conditions for future blocks. All miners may work harder, but none is better off. It is rather like a forest, in which every tree tries to grow as tall as possible so as to capture more light than its fellows, with the end result that most of the solar energy is used to grow long, dead trunks.
>Why tie each bitcoin block to a difficult Procrustean bed? The correct way of thinking about the proof-of-work concept is as a means for a group of self-interested people, none of whom is subordinate to any other, to establish a consensus against a considerable incentive to resist it. Bitcoin could operate perfectly well without proof-of-work, as long as everyone was perfectly honest and altruistic. If they are not, then reaching a consensus is difficult.

>> No.17805920

>>17805701
Fucking hell the writing is on the wall. BTC is not profitable any longer and the situation is going to get worse. Don't come crying to biz in a few months' time when you're left with worthless tokens.

>> No.17805998

Only an issue if you are a dimwit core cucks.

Feeling pretty comfy over here on BSV

>> No.17806136

>>17805693
what's the source for that image?
it depends on the assumed electricity price

>> No.17806256

>>17806136
>To calculate the breakeven point, they took the average cost of energy for industrial companies from China at $ 0.075. They calculated for China because 70%+ of the mining power of locates in this country

Sauce
https://neironix.io/news/researches/how_the_breakeven_level_of_mining_allows_one_to_determine_the_pivot_point_of_bitcoin

>> No.17806269

>>17806256
Except the price in Sichuan during the wet season is ~$0.015/kWh

>> No.17806308

>>17806269
imagine thinking that makes a difference when BTC is back to $1

>> No.17806315

>>17804552
2012? Then fuck off, newfag.

t. 1998fag

>> No.17806355

>>17804668
This and the fundamentals will still be the same for utility of smart contracts

>> No.17806404

>>17806256
correcting for $0.015/kWh and a 10% rise in hash rate, the breakeven price for S17 in Sichuan after the halving is ~$1600.
However, other miners are going to drop out rising this. Bitcoin would have to fall close to $1000 just after the halving for mining to collapse.

>> No.17806431

>>17806269
Yeah well that's an average

>> No.17806518

>>17805693
>the difficulty will never adjust
Dude this has been the core component since the first version of the software. How do you not understand it yet?

>> No.17806729

>>17806518
Tell me how will they make money if btc is at 1000$ based retard

>> No.17807261

>>17806404
>$0.015/kWh
why??

>> No.17807398

>>17807261
he said during the wet season, so likely due to increased availability of hydroelectric power

>> No.17807462

>>17806256
>70%+ of the mining power of locates in this country
> BTC is decentralized bro

>> No.17807691

>>17807398
what about the upcoming S19?
https://www.asicminervalue.com/

S17 Pro:
50Th/s
1975W

S19 Pro:
110Th/s
3250W

will go lower at $1200?

>> No.17807856

Coronavirus is going to kill millions. Excess electricity.

>> No.17808148

>>17807691
I was just explaining what he most likely meant
BTC will be $0 by June anyway

>> No.17809424

>>17805350
I wish this is the case but $1000 graphics cards are the new standard and people will pay. Crypto or not..

>> No.17809454

>>17807691
Not released yet but they'll keep the latest version for a couple of years then they will have to squeeze the miners once again like they just did now

>> No.17809675

doesn't this just mean less supply, more demand?