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/biz/ - Business & Finance

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18000350 No.18000350 [Reply] [Original]

Hashrate keeps dropping.

Miners going dump their coins to recover electricity cost.

See you at 3K.

>> No.18001307

>>18000350
yea nobody understands miner costs because the board is filled with newfags.

>> No.18001340

>>18000350
>Miners going dump their coins to recover electricity cost.

either they already do this, or are not doing this

post blockchain addresses not speculation from a 90iq bizlet

>> No.18001892

>>18001340
If previously they had to dump 40% of coins minted per block, then now they have to dump 100%.

>> No.18001958

>>18001892
>dude trust me
Nothing to do with the current pandemic right? Not like china is under lock down Where lots of miners are.

>> No.18001985

>>18001958
>coin price halves overnight
>I need proof to know that this affects things!
really.

>> No.18002009

you realize there's a difficulty adjustment in 3 days?

>> No.18002152

>>18000350
>If the hash rate decreases that means miners will dump all their Bitcoin

Explain your logic, go ahead

>> No.18002451

>>18001307
Profitable here for American miners. Profitable at 3k for Chinese miners.

>> No.18002474

>>18000350
4K - chinese profit level
5K - russian profit level
6K - american profit level

>> No.18002511

>>18001892
they dump 100% of the coins minted every month
are you new?

>> No.18003127
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18003127

>>18000350
Chinese miners took out massive loans to expand their mining facilities.
What did they use as collateral?
Bitcoin
What has happened to their collateral?
Down 50%
What happens next is obvious

>> No.18003384

>>18002474
Blocks you with 4.3k Canadian mining cost : https://hut8mining.com/hut-8-mining-corp-reports-financial-results-for-the-third-quarter-of-2019
Inside info saying chinks are mining @ 1.5k/BTC . They make both the hardware and have extremely cheap electricity costs. 6k/BTC studies are paid by miners lmfao

>> No.18003476

>>18000350
But anon the price of oil is down, you can power BTC miners with OIL!

>> No.18003569

>>18002152
hash rate dropping mean that miners are turning off their rigs because it's no longer profitable
they most likely still have coins, what they will do with them is unknown, but if they still have to pay the electricity bills from last month ...

>> No.18003571

>>18003476
This

START THE DIESEL BACKUPS!

>> No.18003604

>>18002511
Yes, that would make sense, in which case there's nothing to dump.

>> No.18003649

>>18003476
oil is cheap....natural gas is literally free at the moment

>> No.18003777

can't you just get the electricity from wind or water energy? These fuckhuge facilities sure could buy out or straight up build their own free energy facilities??

>> No.18003795

>>18003777
add solar energy to that as well

>> No.18003808

>>18003777
you realize windmill and solar panels cost money and don't work 100% of the time right ?

>> No.18003858

>>18003808
It's just a bubble caused by the sudden interest in crypto which has focused heavily on BTC

>> No.18003894
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18003894

>>18000350
explain this to a /biz/let pls

>> No.18003950

>>18003808
a solar panel pays itself off in 5 years if you place it in a good spot. Put in the fucking sahara.
So your solar panels will pay themselves in 5 years, plus you get all the bitcoin you've mined. The cost to set up a big warehouse wouldn't be an issue for the big ass miners
Or you could set a hydroplant and you'd only have to worry about maintenance and the initial upfront.
so i ask again, why would the cost of electricity matter for anyone with an actual brain for mining?

>> No.18004043

>>18003950
why don't you you do it if you think it's that easy ( spoilers: it's not ) ?

>> No.18004067

>>18003950
Lmao go run a mining op in the Sahara please post results

>> No.18004117

>>18004043
Dude I could probably set up a warehouse in the gobi desert or some shit it's not hard lmao

>> No.18004133

>>18004043
>>18004067
im just a poor individual. I'm talking about the big mining facilities that are already up and running, but runs purely on paying for their electricity. They have capital and power to do this

>> No.18004177

>>18004133
and yest they don't I wonder why ...

>> No.18004179
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18004179

>miner capitulation

>> No.18004182

>>18000350
What about an exit scam by the top miners after the halving. When BTC liquidity was growing this wasn't an issue but now with the global collapse liquidity is done for at least one year.

>> No.18004225

how do I sell bitcoin insurance?

>> No.18004231

>>18003795
solar is only 12 a day retard

>> No.18004405

>>18003950

>start mining in the sahara
>solar panels melt after a week
>vehicle that you use to drive out there breaks down when you try to get more supplies
>your last thoughts are mirages of you 'making it', complete with lamborghinis and instagram prostitutes