So when the price drops so low that everyone is mining at a loss, how many mines will shut down, how many will run cripplecode and how many will run XT?
depends on how you look at it... in the usa the cheaper you mine bitcoins at the cheaper is your income taxes u pay on them . i think the cheaper the coins causes difficulty to drop as well . i dont mine coins, i only trade.. i just happen to know a lil bit about it.. lol.
I have filed taxes last 2 years showing Bitcoin income $$ from mining and also deducted the cost of equipment, repairs and electricity as expenses. No problems yet lol
and Cheaper coins will cause some miners to turn off their machines because they can not reach a break even on cost anymore until price comes up, resulting in an lower adjusted difficulty, so yes.
Absolutely wrong ....... Miners like you are almost 2-3% of miners in network .... the network controls by big companies such as Bitmain that they never turn off their machines ......
They always do mining and in last news they said , we made new chips for doing better mining by lower power watts and higher hashes
Another point is lower difficulty never help to Bitcoin price ........... Maybe it would be worse
Anyway ,
bitcoin is famous enough and everyone knows BTC now , if it was a Platonist idea or has good innovations and was useful , it must be at higher price in the history of itself ..............
The price is not at higher price , even the price going down over time that means Bitcoin project is failed .........
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