Let's Be Honest. We Are Waiting for $100/BTC to buy

[deisik]

The price has never dropped to a point where mining become totally unprofittable. The last drop to below $200 still on the mark where mining is barely profittable in some places but if it drop to $100 or below it, mining will not be profittable at all anymore (unless you manage to get a free electricity or else) . So at this point, high chance that the number people jumping off the ship will be bigger and also that it could mark as the start of heavy sell pressure constantly

I disagree with that. I'm not so much familiar with the bitcoin mining as to declare some sweeping assertions and final judgments, but AFAIK, the mining difficulty decreases when miners fall off. So, in a sense, the system is automatically load-balanced (to keep it going), and therefore mining will always remain profitable in the long run, at least to some miners...

Until the number of coins to mine is exhausted, of course

I guess mining bitcoin take so long time but you can't get some profit due to the expenses of your equipments? How can it will remain profitable in a long run? With longer mining your cost will become bigger and bigger and I dont think you can cover it with your profit from mining

I don't mean that mining will remain profitable for everyone. I mean there will always be some miners for whom mining will bring in profits. When miners which suffer losses stop mining, the mining difficulty decreases, which allows the remaining miners (that are on margin) earn more with their existing equipment...

It is a dynamic system which balances itself through the mining difficulty, thereby offsetting the price changes 

[BTCevo]

The price has never dropped to a point where mining become totally unprofittable. The last drop to below $200 still on the mark where mining is barely profittable in some places but if it drop to $100 or below it, mining will not be profittable at all anymore (unless you manage to get a free electricity or else) . So at this point, high chance that the number people jumping off the ship will be bigger and also that it could mark as the start of heavy sell pressure constantly

I disagree with that. I'm not so much familiar with the bitcoin mining as to declare some sweeping assertions and final judgments, but AFAIK, the mining difficulty decreases when miners fall off. So, in a sense, the system is automatically load-balanced (to keep it going), and therefore mining will always remain profitable in the long run, at least to some miners...

Until the number of coins to mine is exhausted, of course

I guess mining bitcoin take so long time but you can't get some profit due to the expenses of your equipments? How can it will remain profitable in a long run? With longer mining your cost will become bigger and bigger and I dont think you can cover it with your profit from mining

I don't mean that mining will remain profitable for everyone. I mean there will always be some miners for whom mining will bring in profits. When miners which suffer losses stop mining, the mining difficulty decreases, which allows the remaining miners (that are on margin) earn more with their existing equipment...

It is a dynamic system which balances itself through the mining difficulty, thereby offsetting the price changes 

If some miners are suffer losses, all miners will do the same right? Because they mine bitcoin together if one loss others will loss to except they are gambling to hold and continue mining? Is that what you mean? Although some miners on losses they will mine again until they are on profit?

[deisik]

I disagree with that. I'm not so much familiar with the bitcoin mining as to declare some sweeping assertions and final judgments, but AFAIK, the mining difficulty decreases when miners fall off. So, in a sense, the system is automatically load-balanced (to keep it going), and therefore mining will always remain profitable in the long run, at least to some miners...

Until the number of coins to mine is exhausted, of course

I guess mining bitcoin take so long time but you can't get some profit due to the expenses of your equipments? How can it will remain profitable in a long run? With longer mining your cost will become bigger and bigger and I dont think you can cover it with your profit from mining

I don't mean that mining will remain profitable for everyone. I mean there will always be some miners for whom mining will bring in profits. When miners which suffer losses stop mining, the mining difficulty decreases, which allows the remaining miners (that are on margin) earn more with their existing equipment...

It is a dynamic system which balances itself through the mining difficulty, thereby offsetting the price changes 

If some miners are suffer losses, all miners will do the same right? Because they mine bitcoin together if one loss others will loss to except they are gambling to hold and continue mining? Is that what you mean? Although some miners on losses they will mine again until they are on profit?

Not necessarily. In fact, there are scarcely two miners with the same costs per Bitcoin mined per same difficulty. Electricity prices differ significantly across the globe (and some are using it free of charge). Mining equipment is also very divergent in its productive capacity. Add to this that some miners pay taxes while others do not...

[lorylore]

Seriously at the moment i never mind of the price lol.
It has been a time that the price is low, and we really expect a higher price than now.
Everyone wants to be cheaper but there are some that want higher

[BTCevo]

I disagree with that. I'm not so much familiar with the bitcoin mining as to declare some sweeping assertions and final judgments, but AFAIK, the mining difficulty decreases when miners fall off. So, in a sense, the system is automatically load-balanced (to keep it going), and therefore mining will always remain profitable in the long run, at least to some miners...

Until the number of coins to mine is exhausted, of course

I guess mining bitcoin take so long time but you can't get some profit due to the expenses of your equipments? How can it will remain profitable in a long run? With longer mining your cost will become bigger and bigger and I dont think you can cover it with your profit from mining

I don't mean that mining will remain profitable for everyone. I mean there will always be some miners for whom mining will bring in profits. When miners which suffer losses stop mining, the mining difficulty decreases, which allows the remaining miners (that are on margin) earn more with their existing equipment...

It is a dynamic system which balances itself through the mining difficulty, thereby offsetting the price changes  

If some miners are suffer losses, all miners will do the same right? Because they mine bitcoin together if one loss others will loss to except they are gambling to hold and continue mining? Is that what you mean? Although some miners on losses they will mine again until they are on profit?

Not necessarily. In fact, there are scarcely two miners with the same costs per Bitcoin mined per same difficulty. Electricity prices differ significantly across the globe (and some are using it free of charge). Mining equipment is also very divergent in its productive capacity. Add to this that some miners pay taxes while others do not...

So you mean that some of them will have the chance to get profit although other are suffer the loss? Because of the elctricity and taxes? But what I know cost of their electricity isnt the same and some countries will have really high cost? Is there any miners there? I guess their payout from mining can't even cover their electricity cost like in German or Denmark they have very high cost. Didnt count their equipment taxes yet

[arallmuus]

So you mean that some of them will have the chance to get profit although other are suffer the loss? Because of the elctricity and taxes?

Yes, Deisik actually meant that and this is a flaw from my previous post of not taking it into account that the system is bound to be that some people will always be profittable. Merely because the electricity cost is different for each miners, some large farm actually have their own "electricity" and they will probably be those who are still profittable if BTC falls below $100 marks

In case you are still confusing, you should know that

Code:

more hashrate = higher difficulty 

the difficulty is increasing with more hashrate that is trying to mine BTC. So if mining isnt profitable anymore then there will be some miners that decided to shut down their miner and the hashrate will decrease. If atleast 50 % of the miners decided to shut down then the hashrate will be decreasing as well.

This means that a large farm that has a low cost for electricity will get more share for the pools sharing and thus earned more BTC to cover their electricity cost and get some profit .

[Eastwind]

Seriously at the moment i never mind of the price lol.
It has been a time that the price is low, and we really expect a higher price than now.
Everyone wants to be cheaper but there are some that want higher

Slow rise is fine with me.

[fkvidar]

It is too bad that we will not see sub $100s again as I was somewhat hoping to so I would be able to buy up some cheap bitcoin.

[pereira4]

One of the nice beauties of BTC is how it self regulates itself when difficulty drops because of miners leaving. The world is too big and statistically there will always be people that find a profit in mining, thats why there is nothing to worry about that.

[foxbitcoin]

It would be nice to buy in $100 ...But I'll bet it won't get that low. There are probably a lot of buy orders set in the $200-250 range.

[Amph]

It would be nice to buy in $100 ...But I'll bet it won't get that low. There are probably a lot of buy orders set in the $200-250 range.

i'm sure the OP expectations are changed now, he will reconsider the minimum as 200 at least

100 was because of the bad sentiment when bitcoin crashed under 200 for a short time

actually i never hoped for such a low price, 200 was the bottom and everyone knew it

[smith coins]

I find it difficult to see a price below 200 . is not going to happen, unless there is a shocking event, a risk event, of large proportions.

[deisik]

It would be nice to buy in $100 ...But I'll bet it won't get that low. There are probably a lot of buy orders set in the $200-250 range.

i'm sure the OP expectations are changed now, he will reconsider the minimum as 200 at least

100 was because of the bad sentiment when bitcoin crashed under 200 for a short time

actually i never hoped for such a low price, 200 was the bottom and everyone knew it

Everyone knows that the bottom is at 0. Could it go below that? I don't know, but I know for certain that it could go below 200, or even 100. And I'm not claiming that just for the sake of argument, I'm actually going to profit from this crash, should it happen (again)...

[sexycoin]

no

[bytezero]

You wanna make money with bitcoin?
Let's all crash bitcoin to below $100 and then we can all buy bitcoin, then we wait for it to go to $500
ha ha

[Amph]

You wanna make money with bitcoin?
Let's all crash bitcoin to below $100 and then we can all buy bitcoin, then we wait for it to go to $500
ha ha

i doubt any strong whales, have enough coins to do that at this point, maybe only satoshi can manipulate the price to a such heavy level

well maybe a group of whale can, but what's the point? they will lose plenty of money, because the price will recover quickly

[JarvisTechnology]

There are serious doubts about the hope we are all keeping in our hearts. Do you really think it will go down to 100$? There is a possibility that it might go down to 200 ,but it is like once in a thousand lifetimes chance. People who bought it at the range of 500-600 will surely be pissed off by such dismantling of the price. Well you never know ,these days everything is pretty much unpredictable.

[kenbytes]

Good luck to those who are waiting until $100/BTC but honestly don't see that happening, at least short term. Think we're slowly going to continue heading towards $500 range

[Stedsm]

Guys, now do you really think you will get BTC that cheap?
$100, really? Are you kidding me?

[Eastwind]

Guys, now do you really think you will get BTC that cheap?
$100, really? Are you kidding me?

You are kidded.