death spiral incoming

[Anonymous No.49791560]

>mining a single bitcoin costs approximately 22k usd

[Anonymous No.49791615]

>>49791560
You fuck with gamers this is the result.

[Anonymous No.49791667]

>>49791560
It is all over.

[Anonymous No.49791706]

>>49791615
You went after gamers.
GAMERS!
YOU GET WHAT YOU DESERVE!

[Anonymous No.49791764]

>>49791615
You don't mine bitcoin with gaymer cards

[Anonymous No.49791782]

the planet is healing

[Anonymous No.49791869]

>>49791615

[Anonymous No.49791877]

>>49791560
shorting at 18k I guess lmao

[Anonymous No.49791920]

There's not a single state in the United States where mining is currently profitable.

[Anonymous No.49791947]

>>49791560
Remember this only applies to miner paying for energy

[Anonymous No.49791977]

>>49791615
Gamers rise up.

[Anonymous No.49792009]

>>49791560
He just can't stop winning. I tried to earn you fucks over the past two years but you refuse to see the light due to your massive egos and greediness

[Anonymous No.49792022]

>>49791560
when miners go out of business the cost to mine bitcoin goes down

[Anonymous No.49792027]

>>49791560
>what is mining difficulty

[Anonymous No.49792204]

>>49792009
They don’t deserve it.

[Anonymous No.49792241]

>>49791560
bottom signal this leads to lower blocktime and less inflation.

[Anonymous No.49792272]

>>49792204
;)

[Anonymous No.49792284]

>>49792204
They deserve everything.

[Anonymous No.49792287]

MONERO

[Anonymous No.49792325]

>>49791947
Even if you don't pay for energy you'd need a hundreds of high-end cards to make minimum wage.

[Anonymous No.49792397]

Gaia is smiling because this useless magic internet coin will slow down on destroying her.

[Anonymous No.49792411]

>>49791560
>btc death spiral
haven't heard that fud for a long time. bottom is near

[Anonymous No.49792504]

>>49791764
Yes, but you're talking to someone from /v/ so you should be able to guess their knowledge on any subject (including vidya)

[Anonymous No.49792601]

Less miners = easier mining. So as we lose miners, the price to mine will go down.

[Anonymous No.49792607]

>>49791560
what happens if miners shut down in large numbers?

[Anonymous No.49792774]

>>49792325
Ok so you don't know anything about BTC mining
BTC miners use ASICs that are very easy to get ASICs are the only profitable way for BTC .

You can get these very cheap if you find a good dealer add that to no electricity bill , mine literally paid himself on 3 months so I bought more I'm making 15 to 20 k month mining

[Anonymous No.49792828]

>>49792607
The chain would just freeze, the difficulty is too high the next block would just never get mined

[Anonymous No.49792856]

Good thing I didn’t buy that ant miner

[Anonymous No.49792891]

>>49791615
Based gaymers

[Anonymous No.49792962]

>>49792828
The difficulty automatically lower as miner go down

Is not static is dynamic

[Anonymous No.49792978]

>>49792607
The network becomes unstable.
For people eho talks about dificukty adjustmeent, you have to remember that it's only adjusted between 2k blocks and the time to adjust it if there's a big drop off will increase a lot.
Meanwhile it will likely cause pressure for the price to go low as everyone panics due to transactions taking longer and more drop off from miners.
It also decreases the network security as it's easier for hostile actors to gain significant part of the hash power.

[Anonymous No.49793022]

>>49792828
No one cares about the actual chain, they only care about the blocks on it. So if all mining was shut down, the remaining blocks would become incredibly valuable.

[Anonymous No.49793080]

>>49792962
Difficulty adjustment is after a certain numver of blocks, retard.
If you are taking too long to mine, the period till adjustment will also take longer.

[Anonymous No.49793088]

>>49792891
Better to be a gaymer then a dumb broke bagholder

[Anonymous No.49793144]

>>49792962
It's a death spiral anon, the difficulty does not go down fast enough, the price drops faster until it's worth so little that it's not possible to mine the next block

[Anonymous No.49793145]

>>49793022
If all mining got shut down then anyone would be able to change the blocks and the entire chain, you fucking retard.

[Anonymous No.49793159]

>>49791615
>this post brought to you by weedganggaymers

[Anonymous No.49793325]

>>49792022
This. Retards itt discussing btc without having read the whitepaper

[Anonymous No.49793405]

>>49793325
Cost isn't the only factor, you fucking retard.

[Anonymous No.49793447]

>>49791560
Imagine being a faggot miner

[Anonymous No.49793527]

>>49793144
Miners with unsellable bags will keep the lights on until the next adjustment

[Anonymous No.49793665]

>>49791615
the incel crypto grifter fears the virgin 80 iq gaming chad

[Anonymous No.49793707]

>>49793527
At the same time, the price is going down while electricity costs are going up. The fact that it will be easier to mine might just end up making the situation the same.
That is if, enough miners actually drop off rn instead of trying to wait and then a larger amount will drop off.
That's the apocalypse scenario.
If miners drop off slowly then the network will work as planned.

[Anonymous No.49793986]

>>49793707
the absolute retard actually thinks miners are turned on 24/7 as if they dont already try to toggle and predict when their chances will be higher to get the block vs competition, based on electricity price hashrate etc
each miner can adjust their hashpower and does so, its not an on off switch only

[Anonymous No.49794088]

>>49793325
The cost goes down because you do not compete anymore. But this isn't a substantial amount. If 100 people compete for 1 resource (i.e. a minted block), then only one can succeed. However, with the current difficulty, collisions should be rare, meaning that everyone has the same chance to mint a block. Over time the rewards amortize for everyone and the cost of minting a block will be the same for everyone, no matter how many people try to mint one. The more people participate, the longer you have to wait for costs to amortize, but ultimate, the long-term average cost of minting a block remains the same no matter how many miners there are.

[Anonymous No.49794213]

>>49791560
This is good for energy prices : P

[Anonymous No.49794339]

>>49791560
I don't care
btc is holding crypto back
cue whining btc maxis
fuck you

[Isley !2ySisYPHus No.49794482]

>>49792774
ASICs compete for the same cutting edge TSMC node wafers as Nvidia and AMD. This means that ASIC mining also contributes(d) to the GPU shortage.

[Anonymous No.49794790]

>>49793325
>whitepaper
guys why does american sound so fucking stupid

[Anonymous No.49794997]

>>49791615
this
dont you EVER fuck with gamers again

[Anonymous No.49796210]

>>49791560
It's a bloodbath, and once BTC hits below 5k, not even the newest miners will save it.

[Anonymous No.49796899]

>>49794482
I wonder how Bitmain and co are dealing with this as those orders need to be done well in advance, meanwhile nobody is on the market to buy new ASICs and crypto equipment anymore.

[Anonymous No.49797320]

>>49796210
Bitmain is going to be stuck with a lot of!stock lmao

[Anonymous No.49797504]

>>49791615

[Anonymous No.49797625]

>>49791560
Doesn't make sense to mine in the US except small self sufficient operations in places where you can't sell energy to the grid.

[Anonymous No.49797874]

>>49791560
Miners don't live paycheck to paycheck or better said block to block they have massive reserves that can keep them above water for months of not years. You just don't get into this business and quit next month coz you couldn't pay the electricity lmao

[Anonymous No.49797879]

>>49791615
kek

[Anonymous No.49797982]

>>49793022
Is she? Is she about to squirt on her own face?

[Anonymous No.49798063]

>>49791615
Lol suck a dick and buy your badly optimized 60$ slop goy + 200$ of DLCs with equally garbage hardware that just pushes more watts, overclocking, heat to pretend it's advancing.

[Anonymous No.49798108]

>>49791764
>>49792504
Some people have used cards with display ports to mine:
https://www.ebay.ca/itm/125367873584?hash=item1d3081f030:g:1L8AAOSwg39ip3p2

>Ragequitting mining so have some 3070's for sale.

[Anonymous No.49798115]

>>49791615
fpbp

picrelated: brand new 3080 for $599. Thanks a lot!

[Anonymous No.49798155]

So 9 out 10 people in this thread haven't read the whitepaper?

This is why biz is poor.

[Anonymous No.49798231]

>>49791560
block difficulty changes dynamically, so less efficient miners will drop off until difficulty reaches equilibrium with mining power. Not to mention miners are speculators themselves and will mine at loss if they think the price will increase in the future.
>https://www.blockchain.com/charts/difficulty

[Anonymous No.49798238]

>>49793022
that’s a man

[Anonymous No.49798314]

fewer miners = less supply = price goes up

[Anonymous No.49798345]

>>49791615
Just one more thing we gamers need to take care of....

[Anonymous No.49798380]

>>49798314
>beanie babies and pet rocks will become more expensive if it becomes more costly to make them
You're forgetting about demand.

[Anonymous No.49798424]

>>49791560
So if Bitcoin isn't mined anymore, it's a scarce resource
Therefore it's price will go up
Bottom confirmed

[Anonymous No.49798490]

>>49798314
Nope. How much is mined is fixed. It just gets split among fewer miners.

[Anonymous No.49799006]

>>49796210
how accurate is this?