MINERS BTFO

[Anonymous No.7357499]

MINING BTC BREAK EVEN POINT IS 5K TO 6K (DEPENDING ON ELECTRICITY COSTS)
IF IT DIPS MUCH FURTHER MINERS WILL GO OFFLINE AS THEY WILL BEGIN TO LOSE MONEY (ONLY THOSE WITH THE CHEAPEST ELECTRICITY STAY PROFITABLE) BUT EVEN THEY WILL GET BTFO IF BTC LOSES ANOTHER $950

THIS IS IT, IF BELOW 5K DUMP AND GRAB AT 250

[Anonymous No.7357575]

>>7357499
Citation needed my nigga.

[Anonymous No.7357843]

>>7357499
this. some of those gooks in mongolia who literally burn dirt cheap coal for btc can probably survive until 4ish k tho

[Anonymous No.7357877]

>>7357499
protip: buy eth

[Anonymous No.7357936]

>>7357499

How did BTC exist prior to late $2017?

[Anonymous No.7357976]

>>7357499
Not like anyone is actually using Bitcoin anymore so what do we really need the miners for anyway?

[Anonymous No.7358013]

>>7357936
>Wut are difficulty adjustments

[Anonymous No.7358029]

>>7357499
Yeah and this would be a huge disaster for BTC since it doesn't get a difficulty update for a loooooooooooong time.

If BTC drops below 4K we are going to see GIANT transaction fees as they will be the dominant incentive for miners.

[Anonymous No.7358071]

>>7357499
>>7357499
We went over this yesterday. The break even point is 2.5k.


https://www.nicehash.com/profitability-calculator/bitmain-antminer-s9?e=0.1&currency=USD

[Anonymous No.7358080]

>>7357575
Nobody has time to make a picture book for niggers to understand. BTC difficulty readjustment takes around a month. If BTC drops below a certain point it stops being profitable which causes the network to collapse until difficulty readjusts. Should have sold a month ago, groid.

[Anonymous No.7358105]

>>7357976
your typical /biz/ investor, ladies and gentlemen

[Anonymous No.7358129]

>>7358071
>s9's are the only type of miner on the network

um sweatie...

[Anonymous No.7358176]

>>7358071
its actually 1.2k

[Anonymous No.7358190]

>>7358129
Pretty much.

[Anonymous No.7358211]

>>7358071
>>7358129
>everybody is charged the same rate for electricity

amazing

[Anonymous No.7358241]

Thank fuck. I've been waiting forever to buy a new graphics card.

[Anonymous No.7358276]

Big miners don't just have electricity costs to compete with. Big miners have much more overhead than you might think. Mining operations create a lot of fucking heat. Buildings aren't free, and neither is cold air. (depending on geography)

[Anonymous No.7358294]

>>7358211
Chinese miners who submitted fraudulent business licences to mine crypto are getting shut down. Hippies running their miner on solar account for .0001% of the total hashrate.

t. chink who dumped on you when 10k broke

[Anonymous No.7358297]

>>7358211
>pretending 98% if the hashrate isn't centralized in China

Realistically 1.3k for China and 2.5k for the usa.

[Anonymous No.7358307]

>>7358241
Not to mention the stupid fucking waste of energy resources. Good riddance.

[Anonymous No.7358382]

>>7357499
>MINING BTC BREAK EVEN POINT IS 5K TO 6K (DEPENDING ON ELECTRICITY COSTS)

NO. Less miners - easier mining

[Anonymous No.7358416]

>>7358211
>8 of 10 biggest pools are Chinese
>their fees are pretty much at same low cost
no one cares about amerifat or europoor pools anyway. They have a little impact on bitcoin.

[Anonymous No.7358419]

>>7358105

[Anonymous No.7358469]

>>7358241
>>7358307
Enjoy the raped card at 2x the price. Normies who bought cards during the bull run are going to run them at least until ROI. You're still fucked (if you can call paying a little more for a mario card fucked)

[Anonymous No.7358628]

>>7357936

Mining was massively easier and faster then. You didn't need a specialized mining farm then, you could just have your regular consumer PC idle it on the background.
Another reason why BTC is a scam: the earliest adopters have almost all of the coins that exist because they could mine so cheap.

[Anonymous No.7358704]

>>7358469
>Normies who bought cards during the bull run are going to run them at least until ROI.

They're never going the reach a point of ROI, they will literally lose money for every second they run because the electricity costs more than the coins they'd get.

[Anonymous No.7358707]

>>7358628
>not making at least 1000% off an obvious and inevitable bubble

Wow you're so smart.

[Anonymous No.7358712]

>>7358469
>Normies who bought cards during the bull run are going to run them at least until RO
So until 2030 then?

[Anonymous No.7358757]

>>7357499
If people stop mining, wont transactions take longer and longer to clear?
Then the price will even further.
Death spiral.

[Anonymous No.7358769]

>>7358704
Nobody said normies are smart

[Anonymous No.7358817]

>>7358757
E T H
T
H

[Anonymous No.7359007]

>>7358757
that's the point. it is a vicious cycle

[Anonymous No.7359011]

>>7358757
Bitcoin does have a difficulty adjustment though. As people drop out of mining it should get easier for those who remain.

[Anonymous No.7359111]

But how fast break even point will go up considering increasing mining difficulty?

[Anonymous No.7359839]

>>7359011
C
C
C
CCCCCCChecked 'em -- you're right, there is a changeable difficulty setting. this post is satire/ironic. go the fuck back to plebbit, retard.

[Anonymous No.7359914]

>>7358071
>0.1 USD/kWh
Right, good luck keeping the euros on board.

[Anonymous No.7359968]

>>7357499
ARE MINERS PUMPING THE PRICE BY USING THEIR BOT FARMS TO TRADE WITH EACH OTHER AT OVER THE MARKET VALUE?

[Anonymous No.7360147]

>>7359839
rude

[Anonymous No.7360438]

>>7358757
>>>7359011

The term is "zero day" boys, and the average electricity cost is around 2500-4300 depending on location and other variables. The BTC difficulty was just increased today, next difficulty adjustment is in 2000 blocks.

E T H
T
H

[Anonymous No.7360507]

please keep falling

[Anonymous No.7360550]

>>7359914
Good. Europe doesn't contribute shit anyways.

[Anonymous No.7360554]

>>7360438
>The BTC difficulty was just increased today
No not yet, but around half a day from now, it will be increased.
https://fork.lol/pow/retarget

[Anonymous No.7360712]

reason is the difficulty is up higher now then it was when it was this price earlier, plus difficulty adjustment for btc tomorrow too.

[Anonymous No.7360752]

HAHHAHAHA THE FLIPPENING IS SOON. BCASH CAN DIFFICULTY ADJUST QUICKER THAN BITCOIN CAN. YOUR COIN IS DEAD

[Anonymous No.7360790]

>>7357499
>>7357843
if people stop mining itll become more profitable from difficulty adjustment

[Anonymous No.7361053]

>>7358276
Why aren’t the Russian’s running servers in Siberia and using Mother Nature to chill their rigs?

[Anonymous No.7361191]

god i fucking hope so

I've wanted a new GPU forever and can't afford it because of these fuckings faggots making the price triple

[Anonymous No.7361211]

>>7358080
I wanted citation on the price. Not the explanation about why that could happen.
Please don't be rude to me during a crash desu

[Anonymous No.7361761]

>>7361053
they do
but still no direct snow contact, so cooling hardware and warehouses are still needed

[Anonymous No.7361927]

>>7361211
>Please don't be rude to me during a crash desu
just precious

[Anonymous No.7362008]

>>7357499
The funny thing is that if miners begin to lose money and thus stop mining, then we will never be able to lower the difficulty which will cause a chain death spiral (https://cointelegraph.com/news/how-close-did-bitcoin-get-to-disastrous-chain-death-spiral)) which will destroy Bitcoin as no new Bitcoin can ever be mined.

[Anonymous No.7362215]

>>7359914
aus fag here and i pay 16cent aud not fucking 29c usd

[Anonymous No.7362289]

>>7362215
Ausfag here. We pay 0.29 AUD retard

[Anonymous No.7362295]

>>7357499
you dont get the difficulty adjust when some miners leave

[Anonymous No.7362326]

>>7362289
i pay 16.5cent
enjoy taking it in the ass

[Anonymous No.7362334]

>>7358628
>Mining was massively easier and faster then

6 months ago?

[Anonymous No.7362420]

>>7362289
suck my dick faggot

[Anonymous No.7362695]

>>7362008
>f miners begin to lose money and thus stop mining

durrr, but wouldn't just 1 miner want all the money since the difficulty would adjust to make it profitable. I can't believe BTC Satoshi never saw this coming

[Anonymous No.7362848]

>>7362008
You don't get it.
I will mine out of fucking spite.
I will figure out how to run the miner on my shitty CPU and mine the fucking thing.
I'm pretty sure that I'm not alone.

[Anonymous No.7363383]

>>7357499
Wouldn't whatever the breakeven point is be the true barrier? It limits the number of coins, if there is no one mining, forcing the price back up, miners jump back in, rinse and repeat.

[Anonymous No.7363650]

>>7362848
this

do you think we wouldnt be able to finish the block and start mining at fucking low difficulty after?

[Anonymous No.7363831]

>>7362848
I'm with you man

[Anonymous No.7363974]

>>7362695
Would the block confirmation difficulty adjust to a 2+2 is 4 - 1 thats 3 quick maths model

[Anonymous No.7364003]

>>7357843
Exactly. And how long do you think the Chinese miners on hydroelectric can keep going?

Chingchongs are gonna make out like bandits in this thing.

[Anonymous No.7364698]

>>7363650
It's not just one block, it's like 20000 blocks between difficulty adjustments. Note also that ASIC miners are way more energy efficient and thousands of times faster hashing than PCs.

Face it, the only way to bring the miners back (until readjust) would be massive tx fees.

[Anonymous No.7364868]

>>7364698
is the following scenario possible?

>big miners leave
>small miners struggle to mine 20k blocks
>finally 20k mined -> difficulty lowered
>big miners come back to rape them and leave after 20k
>so on and so on

[Anonymous No.7365127]

>>7364003
they steal the fucking power to run the rigs i think you can forvet electricity costs.

[Anonymous No.7365187]

>MINING BTC BREAK EVEN POINT IS 5K TO 6K (DEPENDING ON ELECTRICITY COSTS)
its fucking $3000 TOPS in the usa you daft cunt

[Anonymous No.7365200]

>>7364868
possible but the devs can do a hard fork with the remaining miners. death spiral is unlkely worst casr bcash becames the real btc.

[Anonymous No.7365209]

>>7357499
FINALLY I can build a new PC.
Rest in shit you fucking GPU whoring cunts.

[Anonymous No.7365259]

>>7365187
then its truly around 1k tops in chinkland if you are correct.

[Anonymous No.7365300]

>>7358628
GPU mining viability for bitcoin was thrown out the window in 2012. In fact its the /only/ reason shitty altcoins gained traction in the first place, because hobbyists couldnt afford ASICs but still had their builds to pay off. Its an ASICs game.

[Anonymous No.7365304]

>>7365209
You don't mine bitcoin with GPU's you dumb grot.

[Anonymous No.7365308]

>>7365209
btc and gpu mining was not a thing since lkke 2011 or someghing.

[Anonymous No.7365355]

>>7358628
Dude, its not a scam if you KNOW those facts. A scam must entail dome sort of deception, right?

[Anonymous No.7365424]

>>7365308
>>7365304
Then FUCKING REEEEEEEEEEEEEEE
WHY ARE THE FUCKING CUNT MANUFACTURERS SCREWING US

[Anonymous No.7365501]

>>7364698
This was a hobbyist thing before it became a libertarian thing. Then it was a black market thing. Then it became a mining industry.

BTC is just going back to its roots. Also, >>7320955

[Anonymous No.7365560]

>>7357499
bch:
eda
no segwit
no block cap

jihan wu about to dump all his btc for bch

[Anonymous No.7365585]

>>7357499
>less miners
>difficulty decreases
>miners get better reward
>miner join again
>cycle repeats

[Anonymous No.7365588]

>>7365424
money, son.

[Anonymous No.7365602]

>>7365424
because gaymer faggots mine other shit with gpus

[Anonymous No.7365846]

>>7365602
they mine sick graphicss

[Anonymous No.7365905]

MINE THE DIP!

[Anonymous No.7365985]

[Anonymous No.7366384]

>>7365985
>december 2017

he really got screwed

also he is renting a place etc with some asic miners instead of getting GPUs
what an idiot

[Anonymous No.7366483]

>>7366384
he will make his money back in a year even if btc goes to $2000
if he holds and continues to mine, he will be retired by 2020.

>instead of getting GPUs
what? asic>gpu, gpus are for poorfags mining shitcoin of the week

[Anonymous No.7366512]

>>7357499
That's good for ethereum and bch

[Anonymous No.7366532]

>>7366483
I think you fucking dreaming

also GPU have a better ROI than mining with ASICS

[Anonymous No.7366641]

>miners are the ones doing the shorting to hedge against bitcoins dump
>all the while accumulating their mined coins for the next bullrun

[Anonymous No.7366732]

>>7366532
Seriously depends on when you buy them.
If you bought an Avalon 741 unit in November and had it running it would have already paid it self off by now if you spent $1,500. but now its about a year and that's basically most GPU ROI.

[Anonymous No.7366759]

>>7366732
yeah the article is from december 2017 with looks like some low end asics

[Anonymous No.7366916]

>>7366759
ok, now I know why he is screwed. He fucking bought dashcoin miners.
Only super profitable upon release then they just got resold. but if bought in December really screwed.
the S9 would have been a better pick since it actually mines bitcoin

[Anonymous No.7366998]

>>7366916
whats the best asics miner for about $3k right now? i might be crazy be willing to get one or multiple. budget $3k

[Anonymous No.7367137]

>>7359839
Difficulty adjustment takes a huge amount of time to react to the market.