Bitcoin Forum

If Mining BTC Even with free electricity cannot pay the mining equipment in a year, that will be the doomsday of BTC, 2000$-2500$ is the limit.

Use your head once in a while! When Bitcoin was in the bear market of 2016 with prices below 4000 miners were also below the point of profitability with no way to pay off equipment bought in 2014 for $600 and more. Did that destroy Bitcoin? Even if we repeat 2015 and 16 worst thing that can happen is another 6 months of bear market and maybe 4000 dollar low

What do you want to benefits from the FUD? It might be disappointing to know that you are not part of the whales, not even waiting to acquire if it slumps lower than the present price.

Whales are just waiting for people to panic !  I have long expected a hike on 4800-5100 +-10% in terms of volatility of the cue ball. Before a new wave of growth, it had to happen.  I do not believe that bitcoin will cost less than $ 4000 !

I think that the collapse will come already on 4k dollars because now China has stopped mining bitcoin

I think that Bitcoin will not fall so low. I think the market situation is not so bad for this to happen. I think that the panic will soon end and growth will begin.

But I don't think bitcoin will go down that far up to $ 2000, bitcoin goes down just because of the bad news that often happens this week and the state of the bear market also affects the decline in bitcoin, so we are patient like last 2014-2016

You have a better response here but from what I'm seeing presently with the bear from the beginning of this year till now, we are yet to see price drop below $5000, I don't think we might see $4000.

I strongly disagree China banning the bitcoin is not official but even if it was real and official this is old news like since January. Nevertheless, Almost all the mining companies are already relocated in other Bitcoin-friendly like Canada, Denmark, Iceland, and The United States where of course the prices for electricity, web hosting, tech support, and machines are higher... There must be another reason like massive withdrawals or some other thing that we do not know yet

next gen asics are already made.
they are currently being cough quality assurance tested cough (meaning they are running them and spending the rewards)
delivery to customers wont be until final week of december. so pools will be turning off their old gen asics and replacing them with next gen(they already have in some facilities)

such a shame they broke the 12 month tested $5.8 support value line. especially only a couple days after a calender year of prices being above $5800

anyway back to the mining:
electric is never free. especially for asic farms.
yea the odd teenager/ out of work person is still living with parents. but the amount of mining without concerning the main bill payer wont be huge enough/earn enough coin to cause any price drama on the markets

so sticking with the mining farms/asic manufacturers, which do have costs:

imagining a scenario of ALL asics swapped in one day (14thash->28thash asics). would see a mining cost of
~$4.9k(min average) per btc at 50exa
~$3.9k(min average) per btc at 40exa

if a scenario of all asics were still last gen (14thash) would see a mining cost of
~$6.3k(min average) per btc at 50exa
~$5.1k(min average) per btc at 40exa

so definetly no where near 2.5k(though i can understand the maths of that number if all rigs were electric free)

if hashrate goes back up to say over 61exa we will see costs go up above $6k for the next gen. and thus they would refuse to sell for less than $6k. so lets hope the new asics will push hashrate up after this temporary swap event

You should be automatically banned for posting such FUD.
Little to no chance that we see that price in the near future.

I also saw the market it dump only 700USD in today so it is just a panic selling of Bitcoin. But bullish market is nearly waiting for end of this month so I don't take it in mind. If you think major tragedy is depends on mining industry it is not acceptable because already more than 75 percentage of the Bitcoin will be mined so demands is the major role in price fluctuation of Bitcoin and other altcoins are follow Bitcoin because all peoples are having some Bitcoin and altcoins.

Yes why people now think that because bitcoin price was falling, they conclude that it will going to be destroyed. If we will go back where the time were bitcoin was created, it is lower than its value today, but still there are miners already who gets profit from it. 2017 was just a big change when it pumped so high and changed the perspective of every bitcoin user because they are expecting now for a higher more value of it.

It's very simple: look what month it is and what date it is.Now is the best way to buy bitcoin before it takes off again in the sky at the beginning of next month. You should understand that Analytics is rarely wrong and bitcoin will grow several times accurately. Maybe not as high as next year, but it will grow.

Adding flavor to the dip? come on, don't add something to cause panic for newbies with the situation. It took time before price went down to $5,400. But during February, you can see that the market plummeted by that time and was able to increase again which can be compared to of this day.

Is this related to the tax inspection and regulations there?

I don't believe Bitcoin will reach that point again, except ETF decision is disapproved.
Today Bitcoin price reach new all time low in 2018, itt's now at $5600, but i believe it won't going more lower than $5k .

Bad news if the price is BTC, 2000 $ - 2500 $. Surely all ALTcoin also fell sharply, surely many investors complained about this, because assets dropped sharply. Can only hope, hopefully, prices will rise again soon.
crypto in my life now is a place to invest and make money !!!

The Cycle keeps repeating im confident about the market reacts, looks like there's alot of Technical Analysis who are right on this chart, CBOE Expires what can we say more?? I hope everything will be fine, Im bullish on this.

I think that's not reason causes of bitcoin goest down at that price amount if you study the history of bitcoin in the coinmarketcap price dip at bpvery low value, so if bitcoin well down upto 2000$ well doesn't means need to panic and quit to invest in cryptocurrency.

You are making panic to the community sharing your thoughts and negative perception for bitcoin future, please next time kearn well your thoughts before sahring to the community do not offend i hpjust want to correct your negative attitude.

Do you think btc price keep same for 1 year at the bottom ? Some miners know when they mining profit is low, they just don't sell their coin yet.
And you know, when the price of btc keep falling, many miners will stop mining, but not all of the miners. The survived miners will keep mining because they know the difficult of bitcoin will drastically falling due many miners stop, and they can earn more btc from mining.

Base on fundamental analysis, bitcoin will dump in price before the end of this year but it will definitely not dump to the price range you mentioned and you unable of mine profitable wont be the reason either.
However, mining profitable required some outstanding mining equipment and for you to get one and how to do it go Mining Section (https://bitcointalk.org/index.php?board=14.0) for better help.

5k usd per btc has a lot of complain already how much more if it will fall for more? Anyway, whatever happens to bitcoin now I should hope that it will not resort to ending the system. I was just about to have some fun. And with the huge market price fluctuation I can't be more happy now. It seems like a doomsday today and onwards on the bullish market.

Mind to tell me what kind of fundamental analysis is it ? no doubt we are expecting another dump in a couple weeks later because we broke everything yesterday plus the FUD that came from Forbes, Craig wright and else. but i heard nothing about fundamental analysis so far, just curious and wish to know what kind of fundamental it is.

about will it reach that point or not, it is still mystery. just like before when people said it will not go below $6000 because the miners will stop mining it.
but here we are

If mining has stop btc value will increase to met the demands in the market thus mining again to profit in btc that is the logic we are always seeing for the last years.

You will see a lot of new mining equipment being showcase in the market that is the indication btc has survive.

If the price goes low, many miners will drop off and the difficulty level will decrease, raising rewards for those left. Even if the price dropped to $1000 the network would still be functioning fine, but with a fraction of the miners mining today. These miners would be making profit because of the lower competition and resulting difficulty levels giving them much bigger rewards than they currently see.

I don't want to see bitcoin become lower than 2500 dollars. But if that happen Im pretty much sure it will up again. Because more people will buy again bitcoin because they want more profit. But if we can increase the value of the bitcoin it is good.

If grandmother have a balls, it wouldn`t be grandmother at all. This is another spam, fud, you name it post, without any arguments, but with many "if`s". We are all guessing when we will see bottom, 6000 dollars looked like that, and many of us thought it will not go down more, but here we go again, its a positive thinking that price will rise again, and we need to stay positive. But what the hell, market dictate conditions and we need to adopt, wait a bit more and if it drops buy, we all know that the best buyings are on bottom.

I don't think that and i see some people spreading FUD to make people panic and selling their coins for a low price or trying to get more fall in price so someone or a group can buy more cheap bitcoin until the price will not have a bill run this year and they make a nice profit. Hold your coins guys and girls and wait for a better price.

It already dump that price but all this dump is temporary, it will soon be over and we still know that BTC still have room for making another ATH soon.

Stupid noob,who told you that with free electricity,no one can pay for the mining equipment?Try to read some articles about mining equipment prices before creating stupid thread like this
Electricity is the only hindrance for a miner to gain.and if this will be free then for sure profit will be in miners hand

Those who believes on fuds probably will lose so I do not think btc price will dump so low. This is right let us hold our btc than selling this time to a lower price. Anyway, although we cannot predict prices I am still on hopes for the recovery period.

That's true, they trusted the potential of bitcoin and waited it to boom but if we're looking at the current state there is so many coins that has been keeping up and new coins coming in, the fact that bitcoin is replaceable after all there is a chance that because of the electricity and mining rig being expensive more and more are considering other option and that is one thing that threatens bitcoin at the moment. It depends on the miner or users view to be loyal and consistent or to try other ways in difference.

Normally I would love to sit here and say there is no possible way the price will dump to $2.5k but apparently that type of stuff could happen at any given time. I mean that is really too low and would really destroy all of the interest we have worked to gain over the years but it would also be possibly the best thing that could happen to bitcoin as well.

Yes, all of our investments would worth a lot less than we initially got in but than we will have chance to get bitcoin for incredibly cheap, if it reaches $2.5k it means when it goes to $25k that is 10 times the profit. There is of course, no guarantee that it will go to $25k but I assume it will happen eventually one day, maybe not today or tomorrow but 5 years from now would you be shocked if the price was $25k ?

Maybe people are becoming tired of cryptocurrencies investments and market because of the market behavior this year.  Bitcoin getting dump below $5000 is what I did not expect but everything is very possible.  We should keep our fingers crossed and see what happens in future as I am ready for any market situation.

I think that now the price of Bitcoin is not connected with mining. This is just an ordinary manipulation for whales to buy bitcoin cheap

I don't think that $2k is ever gonna be reached and you should have posted some more information on how you reached to this conclusion. The Miners are already in a negative after this price dump from 6k to 5k and if further price dump takes place then only big companies will be mining bitcoins as they can afford short term gains to gain long term monopoly in the mining market and once they obtain that monopoly then they will be controlling the decentralized network and it will cause centralization of bitcoin thus its end.

If you don't keep a positive mind about crypto this will contribute to bringing the price down but I think we have a lot of lurkers waiting to jump on the boat as they coins are much more  affordable...so no need to panic we ain't going that low!

Your seem to be clueless with your analysis, how were miners able to cope when bitcoin wasn't worth $1,000 ? and Bitcoin at it's worse of the year so far is worth more than $5,000. You need to understand that electricity carries a relatively huge percentage of mining cost.

Because he is a newbie, he has no source for all this.

People need to see that this is just a FUD thread, and it is a nonsense. Better to skip this thread and only look for serious information with details.

Of course that bitcoin is not going to go that deep, at least, not during this year.

That is true people are being disappointed with the btc price this year. No signs of bull run that most awaited to happen. This past days price really drops so we should be calm and be hopeful that still it can recover. Let us see the market condition by next year that I think their is new thing to happen.

It's not even a year of this trend and people are getting tired? Nah. Probably those that keep losing money trying to short bitcoin are the ones getting tired losing money. At this point, btc is still at a young stage and growth still is inevitable in the years to come.

Hope you are aware that corporates have taken control of the mining industry and they have their reserves to fund for a few years as they have made a lot of profit and so is the reason they are still continuing to function, there was a time when the market was below $1k and they did not stop these process at that time and you really think that they will dump everything now, i really do not have a problem with some mining corporates closing down because of the competition and these competition arises simply because of the profit they see and that does not mean that the price will go down, the price of bitcoin depends upon more people investing in this market rather than what the mining industry does.

There is a benefit of going down to 2,500 which is for a wider distribution of bitcoins. Many others will see it as a good entry price, especially those in poorer countries that now rely on bitcoin e.g. Venezuela.

It is impossible to reach in future so I didn't imagine these things so we will see good result in upcoming days. Many peoples are expecting a new opportunity of beginners bit previous holders are loose the hope and they are all afraid in future investment so we will not support these kind of bearish market.

Just can't understand how you people's Assume Even it is a prediction.  Think logically BTC is very popular in cryptocurrency, there are lot of prediction by the end of this year.

Mining equipment costs are always lowering with more hashpower machines come out and better innovations and improvements are made to mining but in the end what matters is that miners are the ones who decide on the price. If they decline on selling under the cost than they will keep their bitcoins and they won't allow it to go down.

Do you know why everybody believed bitcoin prices wouldn't go under 6 thousand dollars and why it actually did go under 6 thousand dollars? Because people believed the price for break even in mining was 6 thousand dollars and miners wouldn't sell under 6 thousand dollars and they really didn't. However when this bitcoin cash thing happened they all started selling to cover for the expense of the war. So the price all depends on the miners, as long as they don't sell no problem will happen but if they do than there is no bottom.

I don’t know about you but yes, I have seen some stories. Right now, the lowest price of this year, this is statement with which people are getting afraid and some are making fud of it.

It only proves that bitcoin price prediction is really unpredictable as there are many parameters to factor in. This past few days are the worst for this year and its totally unexpected. Jihan Wu/Roger Ver and CW starting their power grabs took its toll on us.

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Oh well another newbie starting a thread and looks like creating another FUD. Smart members knew that this was coming, they usually comes out with Bitcoin is going down and then hide again when the bull run started.  ;D

If there are less miners the difficulty will decrease. Then it would be more profitable to mine bitcoin with less hash.

What about those investors who have bought bitcoins when the price was at 18k$? Due to current market condition, people start losing their trust in bitcoin and some news is circulated that this time bitcoin will die which result in panic selling of bitcoin. And the reason for the dumping is that people think that this attack will influence bitcoin strongly and bitcoin will die soon.

I never agree with you on this opinion of yours.

Conditions that are so scary and have made many people suffer losses. Maybe if it really happened that was done by the manipulator then it is likely that the price of Bitcoin will increase again. As we know that a manipulator is dumping and pumping bitcoin. They do this so they can make a profit and they are the main actors that cause others to suffer losses. Hopefully this happens, because there must be a pase where the price of Bitcoin will increase. Be patient and continue to wait until the situation improves and then we can avoid losses.

Who cares about the price of $2,500?for sure i know the answer,its you and those noobs and stupid that enters crypto just to gain and nothing else more
Because this currency has a great technology behind and this is why bitcoin and all legit cryptocurrency has a future for humanity,sooner everything will be in computer form thats why we will be using this currency in time

And apparently there is no such tool with which we can say what would be the price of bitcoin in coming days. Right now, there is a chaos being made by people because they know bitcoin’s golden time has just arrived.

what golden time are you talking about ? you mean the current bear trend ?  the trend has been running for almost a year ever since we hit the month of january 2019 but look at btc and altcoins  ,  both cryptos are still down  .  that is only an evidence that no one is buying even if they see that the price is too damn low but thanks to those die hard hodlers , they are only the one that hodling the price so that it cannot go down lower than 2k usd  .  anyway lets just hope for the better .

Times like this is when we get to see FUD the more, and the people I pity the most are those who tend to listen to this and then dump all they have at loss, and then eventually get scammed by some so called people who are trying to manipulate their minds into getting a lot from them eventually. Bear trend has always been a good time for accumulation.

Whether it drops as low as even $2k, I really have nothing to be bothered about. There is time for everything and if you are smart enough as an investor, you will know time when people are scared like this is when you should be accumulating.