I have a question, and maybe I'm overlooking something, but I've heard about the potential troubles of miners going out of business when it's no longer profitable to mine because the bitcoin price is too low. And then people say this means trouble for bitcoin. However, with less people mining, wouldn't this help push the bitcoin price up? If less coins are being mined, then less supply would be being created.
Then again I know that supposedly exactly 3600 bitcoins are produced each day. I think I might be missing something. Someone please help me understand.
There actually would be a reduction in the number of bitcoin minted, but only in the short term, the difficulty would change accordingly and soon enough we'd be back on track.
The same has happened in reverse a lot of time, especially when a new ASIC is released.
I don't think that the price to too low for people to mine, I just think that it is a global market, and some people are willing to work on wafer thin margins with zero electricity costs, so your average miner can't compete, it will be the same when bitcoin costs thousands of $