Bitcoin coins close to reach new heights

[pjmis]

I notice 16,000,000+ bitcoins are in circulation. 5,000,000 remain. I may be right or wrong about these numbers.

With the current numbers showing I believe the difficulty is about to bump up to a point of decrease in current hardware profitbility of at least 1%+ a month.

New rounds of hardware soon being invented? Or is bitcoin slowly going to be all mined with current tech?

If current tech sticks while difficulty increases by percentages. I think we might face the death of bitcoin mining proftability. Or at least a large chunk.

Coming from my point of view. I believe this is true as ive seen the current conditions playing a role of decreasing my proftability.

What do you think?

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[philipma1957]

I notice 16,000,000+ bitcoins are in circulation. 24,000,000 remain. I may be right or wrong about these numbers.

With the current numbers showing I believe the difficulty is about to bump up to a point of decrease in current hardware profitbility of at least 1%+ a month.

New rounds of hardware soon being invented? Or is bitcoin slowly going to be all mined with current tech?

If current tech sticks while difficulty increases by percentages. I think we might face the death of bitcoin mining proftability. Or at least a large chunk.

Coming from my point of view. I believe this is true as ive seen the current conditions playing a role of decreasing my proftability.

What do you think?

your post has so much wrong info it is hard to believe that you understand bitcoin


16,000,000  mined

5,000,000 left

the difficulty of mining has no meaning

the price of coins has no meaning

the relationship of the two  are very important

if diff is 1  and price is 1

if diff is 10 and price is 100

what is better for a miner    simple divide price by diff

in the first case  1/1 = 1
in the second case 100/10 = 10

so the second case  with a diff of 10 is better

since coin price went up to 5400 usd today  and diff is pretty flat  you are doing better today  then  you were a week ago

[philipma1957]

According to Ice Rock Mining it's still profitable to mine bitcoin if you have chosen the right location with low temperature and low electricity costs.

Let us assume that bitcoin is slowly going to be all mined with current tech, then it will take longer and longer to mine a coin as the difficulty will increase. But in this case it's almost clear that the bitcoin price will also increase as in the past this was always the case.

yep  ans as long as price is high enough the diff is not an issue.

[QuintLeo]

Low temperature isn't critical, though it can help keep cooling costs down.

 Dry and hot is BETTER for mining than wet and semi-hot, as evap cooling is CHEAP.

[Bestwishes745]

According to Ice Rock Mining it's still profitable to mine bitcoin if you have chosen the right location with low temperature and low electricity costs.

Let us assume that bitcoin is slowly going to be all mined with current tech, then it will take longer and longer to mine a coin as the difficulty will increase. But in this case it's almost clear that the bitcoin price will also increase as in the past this was always the case.

yep  ans as long as price is high enough the diff is not an issue.

Problem only comes when you are taking one thing forward but the respective things connected with it are not affecting, either positively or negatively. You need to work hard for making it in up direction but on the same level there should be increase in related factors. This will only lead to the success and things will be fine for you.