gunhell16
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December 27, 2022, 01:29:39 PM |
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Mining only becomes profitable if Bitcoin's price value is in a bullish season. This is what has been observed in the past few periods of the bull run.
Therefore, if we are in a bear market, the situation in the market is too complicated, which is also where the volatility that happens in the movement of the market is too aggressive. The more it goes down or becomes a flat resistance only happens in its movement, the cost goes up but the profit goes down. In short, it is not becoming profitable at the moment due to this scenario in reality.
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LDL
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December 27, 2022, 03:49:03 PM |
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Mining only becomes profitable if Bitcoin's price value is in a bullish season. This is what has been observed in the past few periods of the bull run.
Therefore, if we are in a bear market, the situation in the market is too complicated, which is also where the volatility that happens in the movement of the market is too aggressive. The more it goes down or becomes a flat resistance only happens in its movement, the cost goes up but the profit goes down. In short, it is not becoming profitable at the moment due to this scenario in reality.
In the bearish market, Mining has a somewhat negative impact on profits. But it is not the case that losses are incurred at all. It is assumed that if mining costs are high then mining companies and individual miners will stop mining. As a result, mining rates will increase and companies that don't stop mining will get more profits. Yes but it is true that no matter how high the cost and how low the market sells mining will never stop completely.
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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GigaBit
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December 28, 2022, 06:36:23 PM |
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Mining only becomes profitable if Bitcoin's price value is in a bullish season. This is what has been observed in the past few periods of the bull run.
Therefore, if we are in a bear market, the situation in the market is too complicated, which is also where the volatility that happens in the movement of the market is too aggressive. The more it goes down or becomes a flat resistance only happens in its movement, the cost goes up but the profit goes down. In short, it is not becoming profitable at the moment due to this scenario in reality.
If miners are encouraged to mine then it will undoubtedly be profitable. Generally we know that mining requires some quality parts with enough energy. Which seems normal but actually has great value. Mining will be profitable while Bitcoin remains bullish. If Bitcoin miners can't extract profits after mining, then mining will slow down. In order for mining to be profitable, a miner must have special knowledge of a few things. As such a miner needs to have a good understanding of hardware. A device that has more computing power with less energy. It also needs cheap electricity that will help reduce the cost of mining and have an efficient mining pool. If costs can be reduced in some of these areas, then some profit can be made in the quality. After all, since the price of Bitcoin is low, mining will not be profitable.
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serveria.com
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Privacy Servers. Since 2009.
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December 28, 2022, 11:13:09 PM |
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Biggest issues for miners in 2022 were: * electricity prices, energy crisis (in some countries up from ~$10c/kwh to whopping 30c/kwh so x3 in less than a year!) * crypto winter, prices going down * ETH moving from POW to POS * supply chain disruptions after Covid19 (new wave starting in China?) So, I guess miners shouldn't feel overly happy about 2022...
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Fara Chan
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January 02, 2023, 12:19:11 PM |
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Mining only becomes profitable if Bitcoin's price value is in a bullish season. This is what has been observed in the past few periods of the bull run.
Yes, I agree, in general Bitcoin profits will be obtained in bullish times, both investors (long time holders) and miners, but in this year's circumstances they only get a little of their profits, due to the bear market factor that is currently slumping the market. Therefore, if we are in a bear market, the situation in the market is too complicated, which is also where the volatility that happens in the movement of the market is too aggressive. The more it goes down or becomes a flat resistance only happens in its movement, the cost goes up but the profit goes down. In short, it is not becoming profitable at the moment due to this scenario in reality.
That is a bit of a problem when a bear market situation for miners complicates them in mining activities as usual, but this bear market is an opportunity for them to mine, but requires calculation of electricity costs, electric power is a major factor and is the most important in mining Bitcoin, this year which has a low electricity cost in their area, of course they get a profit, although it's not like the profit during a bull market.
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GigaBit
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January 02, 2023, 02:05:02 PM |
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That is a bit of a problem when a bear market situation for miners complicates them in mining activities as usual, but this bear market is an opportunity for them to mine, but requires calculation of electricity costs, electric power is a major factor and is the most important in mining Bitcoin, this year which has a low electricity cost in their area, of course they get a profit, although it's not like the profit during a bull market.
The recent fall in the price of Bitcoin has created a major problem. As much as this is a problem among cryptocurrency traders, it is now an even bigger problem for the miners. As we know miners are able to profit in Bitcoin mining in two ways. One is when the price of Bitcoin is high and the other is when the cost of mining is reduced to profit from it. Currently, due to the war in Ukraine and Russia, there is a major energy or fuel crisis in every country of the world, as a result of which the service is not available as per the demand. Electricity prices have increased relatively in every country. Even if miners uses enough electricity, miners will be at great risk due to the low price of Bitcoin at this time. Consequence of this fact i cannot consider mining will be profitable at this period.
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LDL
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January 03, 2023, 12:53:27 AM |
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Biggest issues for miners in 2022 were: * electricity prices, energy crisis (in some countries up from ~$10c/kwh to whopping 30c/kwh so x3 in less than a year!) * crypto winter, prices going down So, I guess miners shouldn't feel overly happy about 2022... Yes, it is true that the war between Ukraine and Russia has had an impact on the world, especially on oil. Due to the conflict with Russia as a result of the war in European countries, there is a severe shortage of fuel oil. But except for a few countries in the world, all countries have abundant reserves of electricity, in which case the scarcity of electricity should not have any effect on mining. However, the massive decline in prices to the downside in 2022 has a negative impact on mining. The price inversion with the Bitcoin mining reward is causing major mining companies in the world to go bankrupt. For example, the bankruptcy of Core Scientific Mining Company was announced a few days ago.
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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safar1980
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January 03, 2023, 11:10:34 AM |
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Messari analyst Tom Dunleavy tweeted: "BTC miners sell roughly 100% of the coins they mine The 10 public bitcoin miners detailed here mined ~40.7k BTC and sold ~40.3k in 2022 This is a persistent headwind for BTC and for no other reason a good thesis to be bullish the ETHBTC ratio trade" https://twitter.com/dunleavy89/status/1607495480677699585?
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kano
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Linux since 1997 RedHat 4
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January 03, 2023, 03:00:26 PM |
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Yet in 2022 around 330k BTC was mined. Amazing how people assume a small sample magically applies to everyone ...
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RahbabaKahn
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January 05, 2023, 02:04:26 PM |
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This number is hard to pin down in 1/3/2023, but according to the World Economic Forum, there are approximately 3372 functioning satellites orbiting the earth, and about 1/3 of them used for communications purposes. Would it be possible to convince one of the companies operating their satellites to let some bitcoin miners piggyback some mining software on their internal systems to see how well it works? What would need to be the minimum price of bitcoin to make the mining rewards cover the costs of operating a satellite? Think about bitcoin mining nodes in outer space....Solar powered electricity = unlimited. GPU cooling = unlimited.
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nullama
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January 06, 2023, 02:37:32 AM |
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Bitcoin mining will probably be always profitable, specially if you consider the expected future value of the coins.
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FP91G
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January 06, 2023, 11:55:06 AM |
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10 Bitcoin Mining Predictions for 2023Here’s a list of Bitcoin Mining Predictions for 2023: The bitcoin bear market will come to an end Bitcoin’s hashrate growth will slow down The number of public miners will decline Hosting prices will fall Cost minimization will be essential in 2023 ASICs will become dirt cheap Miners will struggle with achieving sufficient up-time Regulators will keep targeting bitcoin mining Miners will work on strengthening their balance sheets Miners will increasingly utilize Bitcoin mining derivatives https://hashrateindex.com/blog/10-bitcoin-mining-predictions-for-2023/
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RahbabaKahn
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January 06, 2023, 05:22:23 PM |
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Just curious..... BTC.com data shows that a mere two mining entities—Foundry USA and AntPool—currently control over 51% of the BTC network’s overall hash rate. Earlier in 2022, it took the top three BTC mining entities to account for a similarly dominant chunk of the overall hash pie.
Now in 2023, add in the third-ranked F2Pool, and the top three miners control over two-thirds of the hash pie. Add in ViaBTC (#4) and Binance Pool (#5), and the top five miners control over 85%, leaving the rest of the pack scrambling over the scraps. How is that DECENTRALIZED cryptocurrency when 85% of the bitcoin mining is controlled by just 5 major mining pools? How can any small-scale miners possibly make any profit over time?
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Patrol69
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January 07, 2023, 05:34:03 AM |
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Bitcoin mining is very expensive for a miner. Many people have tried Bitcoin mining before but every time they have to pay huge electricity bills so they stop themselves from doing Bitcoin mining in the future. Mining a Bitcoin requires many machines and the amount of electricity consumed by all those machines makes mining a Bitcoin more expensive. Not everyone is successful in Bitcoin mining but there are many who have failed many times in Bitcoin mining and they have suffered a lot of losses in total. And those who have achieved success in Bitcoin mining have seen their mining cost fall much higher than the market price of a Bitcoin. Maybe that's why bitcoin mining is currently closed.
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