Bitcoin Forum
September 22, 2018, 08:33:20 AM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 5 [6] 7 »  All
  Print  
Author Topic: What happens if bitcoin price falls below the cost of mining it?  (Read 593 times)
Lagrood
Newbie
*
Offline Offline

Activity: 196
Merit: 0


View Profile
July 28, 2018, 09:47:03 PM
 #101

Bitcoin has holded the very important level about 6000$ and it means that big investors and traders are not going to drop bitcoin lower, consequently they believe in bitcoin and they will probably lead bitcoin to achieve new highs. There is a question when will it happen? I do not know exactly that is why I have bought BTC not to miss a new strong upward trend.
For example, look historical data about gold. I remember that gold was bout 200-300$ and nobody imagined that gold would be 2000$. Also we may have a look at bitcoin some time ago bitcoin was 200-300$ and less part of people believed in bitcoin and bitcoin would achieve 20000$. So, I believe that bitcoin will show new highs but I do not know when.
Einax Airdrops and Bounties made easy! List your ERC-20 token
FREE
ETH markets launching soon!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537605200
Hero Member
*
Offline Offline

Posts: 1537605200

View Profile Personal Message (Offline)

Ignore
1537605200
Reply with quote  #2

1537605200
Report to moderator
1537605200
Hero Member
*
Offline Offline

Posts: 1537605200

View Profile Personal Message (Offline)

Ignore
1537605200
Reply with quote  #2

1537605200
Report to moderator
putriliesma
Newbie
*
Offline Offline

Activity: 192
Merit: 0


View Profile
July 28, 2018, 10:22:14 PM
 #102

Indeed, because mining may be the price of bitcoin down because they get it for free, waiting and producing bitcoin. It's very easy on our capital appeals or looking for bitcoin by following the bounty and getting paid bitcoin.
sniper23
Newbie
*
Offline Offline

Activity: 140
Merit: 0


View Profile WWW
July 29, 2018, 10:51:32 AM
 #103

Is this possible?
South Park
Hero Member
*****
Offline Offline

Activity: 826
Merit: 502


★Bitvest.io★ Play Plinko or Invest!


View Profile
August 01, 2018, 08:58:03 PM
 #104

If Bitcoin prices drop below the cost of mining, I believe miners will be selling Bitcoin mining equipment cheaply. Unless Bitcoin is exploited, the Bitcoin trade will be slower, and Bitcoin will collapse.

That will be the worst option, since they are selling the only means that they have to recover their money, that is a terrible deal for them if you ask me but it will be a great deal for those that can get that equipment cheap, but you are overreacting you think that bitcoin will collapse for something so insignificant, if bitcoin could be destroyed by that then bitcoin would have died already.



.
.BITVEST DICE.
HAS BEEN RELEASED!


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
BTC-BTC-BTC
Legendary
*
Offline Offline

Activity: 1246
Merit: 1001



View Profile
August 01, 2018, 09:20:35 PM
 #105

"If Bitcoin prices drop below the cost of mining" miners just stop their operation and use the money they use for electricity to buy Bitcoin. Free market will be adjust according to the supply and demend. Nothing to be worry about to much.
Lightsource
Newbie
*
Offline Offline

Activity: 34
Merit: 0


View Profile
August 01, 2018, 09:31:59 PM
 #106

I don't think it would really go lower than the price of mining, because the miners are going to be less likely to sell at a lost. It wouldn't make much sense to them. Mining factors into the whole supply and demand of crypto. Less miners willing to sell at a loss, then less Bitcoins available for sell, thus higher price.
sniper23
Newbie
*
Offline Offline

Activity: 140
Merit: 0


View Profile WWW
August 01, 2018, 09:32:31 PM
 #107

What happens if bitcoin price falls below the cost of mining it?

Lots of dramatic noises and "I told you..." "BITCOIN IS SCAM" comments. etc etc.
Escan0r
Member
**
Offline Offline

Activity: 196
Merit: 10


View Profile
August 01, 2018, 11:35:02 PM
 #108

I think the miners don't really make the price of bitcoin fall so much but new investors who panic when they see the price of bitcoin go down and sell it. Because of this they only help bitcoin become more down because it sells when the price of bitcoin falls.

odolvlobo
Legendary
*
Offline Offline

Activity: 2240
Merit: 1135



View Profile
August 02, 2018, 12:51:11 AM
 #109

I don't think it would really go lower than the price of mining, because the miners are going to be less likely to sell at a lost. It wouldn't make much sense to them. Mining factors into the whole supply and demand of crypto. Less miners willing to sell at a loss, then less Bitcoins available for sell, thus higher price.

That is a commonly stated misconception.

First, miners must sell most of their bitcoins, even at a loss, to pay for their operational costs: power, cooling, rent, labor, etc.

Second, when it comes to holding bitcoins, miners are no different than anyone else. They may or may not sell the bitcoins they hold at a loss.

Finally, miners are only a tiny part of the market. Miners sell only 1800 BTC of the 600,000 BTC traded every day. Their behavior has almost no effect on the price.

The reality is that if it costs a miner more to mine the bitcoins than to buy them, a rational miner will simply stop mining.

Buy bitcoins with cash from somebody near you: LocalBitcoins
Buy stuff on Amazon at a discount with bitcoins: Purse.io
Join an anti-signature campaign: DannyHamilton's ignore list
BossMacko
Hero Member
*****
Offline Offline

Activity: 966
Merit: 502

Dice>Monthly Competition>BTC,ETH,LTC>Click my Sig


View Profile
August 02, 2018, 01:00:16 AM
 #110

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).
If the btc price falls below the cost of mining some miners will exit It will temporarily cause blockchains discoveries to lengthen as the existing miners striuggle

Agree once that happen price will rise again since some of the miners are gone and only few miners will sell Bitcoin to gain back the cost of electricity and rigs.

kolsernik
Sr. Member
****
Offline Offline

Activity: 692
Merit: 258


dApps Development Automation Platform


View Profile
August 02, 2018, 01:07:02 AM
 #111

I think just when the last 20% will be extracted and it is worth waiting for the increase in the price of bitcoin.


            ▄▄▄▄
        ▄▄████████▄▄
    ▄▄████████████████▄▄
 ▄████████████████████████▄
██████████▀▀███████████████
██████████▄   ▀█████████████
████████████▄   ▀███████████
██████████████▄   ▀█████████
█████████████▀   ▄██████████
███████████▀   ▄████████████
██████████▄  ▄██████████████
███████████████████████████
 ▀████████████████████████▀
    ▀▀████████████████▀▀
        ▀▀████████▀▀
            ▀▀▀

⬢⬢

⬢⬢



       ▄▄▄▄
   ▄▄████████▄▄
▄██████████▀▀▀█▀█▄
██ ▀█████▀     ▀██
██▌   ▀▀▀      ███
███▄           ███
████▀         ████
▀████▄     ▄▄████▀
   ▀▀▄▄▄▄████▀▀
       ▀▀▀▀


██████████████████



       ▄▄▄▄
   ▄▄████████▄▄
▄████████████████▄
██████████▀▀  ▐███
██████▀▀  ▄   ████
███▀   ▄█▀   ▐████
████▄▄█▀     █████
▀█████▌ ▄▄▄ ▐████▀
   ▀▀████████▀▀
       ▀▀▀▀


██████████████████



       ▄▄▄▄
   ▄▄████████▄▄
▄███████▀   ▐████▄
████████  ▄███████
██████      ██████
████████  ████████
████████  ████████
▀███████  ███████▀
   ▀▀████████▀▀
       ▀▀▀▀


██████████████████



       ▄▄▄▄
   ▄▄██▀█▀███▄▄
▄███▀▀▀ ▀ ▀▀█████▄
██████ ████▄ █████
██████ ▀▀▀▀ ▄█████
██████ ▄▄▄▄ ▀█████
██████ ████▀ █████
▀███▄▄▄ ▄ ▄▄█████▀
   ▀▀██▄█▄███▀▀
       ▀▀▀▀


██████████████████
butterflies04
Full Member
***
Offline Offline

Activity: 222
Merit: 100



View Profile WWW
August 02, 2018, 01:10:23 AM
 #112

I think if Bitcoin falls below the price it costs to mine that some of the smaller guys will fall off however the big guys will keep rolling in hopes of future price gains.  If they made large expenditures they have no choice but to keep on going. 

Sled
Hero Member
*****
Offline Offline

Activity: 924
Merit: 500

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
August 02, 2018, 03:24:25 AM
 #113

I think if Bitcoin falls below the price it costs to mine that some of the smaller guys will fall off however the big guys will keep rolling in hopes of future price gains.  If they made large expenditures they have no choice but to keep on going. 
I hope that it will not happen because it will have a huge affect on the price of bitcoin because if the miners will not be able to make any profit anymore then it will cause for a lot of shutdowns on their mining rigs and that will become the reason for the network to become slower where the user will find something better and that will become the cause for bitcoin to fall down.

South Park
Hero Member
*****
Offline Offline

Activity: 826
Merit: 502


★Bitvest.io★ Play Plinko or Invest!


View Profile
August 03, 2018, 03:30:34 PM
 #114

"If Bitcoin prices drop below the cost of mining" miners just stop their operation and use the money they use for electricity to buy Bitcoin. Free market will be adjust according to the supply and demend. Nothing to be worry about to much.
That will be a huge mistake, I have seen people say that the bitcoin they mined back in the day when it was not profitable to do so was in fact the most profitable of all, the miners have a lot of money they are not going to suspend their operations just because it is not profitable at this time, since they know the price of bitcoin will recover and the bitcoin they get can be sold for a profit in the future.



.
.BITVEST DICE.
HAS BEEN RELEASED!


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
odolvlobo
Legendary
*
Offline Offline

Activity: 2240
Merit: 1135



View Profile
August 03, 2018, 09:46:40 PM
 #115

"If Bitcoin prices drop below the cost of mining" miners just stop their operation and use the money they use for electricity to buy Bitcoin. Free market will be adjust according to the supply and demend. Nothing to be worry about to much.
That will be a huge mistake, I have seen people say that the bitcoin they mined back in the day when it was not profitable to do so was in fact the most profitable of all, the miners have a lot of money they are not going to suspend their operations just because it is not profitable at this time, since they know the price of bitcoin will recover and the bitcoin they get can be sold for a profit in the future.

Suppose your cost of mining is $6000 per bitcoin and the price of a bitcoins drops to $5000. Are you going to mine 1 BTC for $6000 or are you going to buy 1.2 BTC for $6000? A smart person would stop mining and buy the 1.2 BTC.

Buy bitcoins with cash from somebody near you: LocalBitcoins
Buy stuff on Amazon at a discount with bitcoins: Purse.io
Join an anti-signature campaign: DannyHamilton's ignore list
political1907
Full Member
***
Offline Offline

Activity: 308
Merit: 100



View Profile
August 03, 2018, 09:57:25 PM
 #116

If price of bitcoin falls below the cost of mining, some people may quit mining. But their quits does not affect much. I don't know if we need to think too much about it because even if one person does mining, the system will continue to process.

AniviaBtc
Full Member
***
Offline Offline

Activity: 267
Merit: 100



View Profile
August 03, 2018, 10:15:40 PM
 #117

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).
If the btc price falls below the cost of mining some miners will exit It will temporarily cause blockchains discoveries to lengthen as the existing miners striuggle


  Well, if we follow your point of reasoning Bitcoin price will be affected, But please, try the make a good research with comparative data to support your claim, base on the Hash Rate, Bitcoin miners increase to some degree, although the Bitcoin price on the market as posted goes down yet is more strong now and even more stable. Let's wait and see, let's be patient and monitor our investment.

◕  INGOTCOIN  ◕    ██  Twitter  ██      ██  Telegram  ██  ◕  INGOTCOIN  ◕
█████ BRIDGING MARKETS █████
AN ALL INCLUSIVE ECOSYSTEM
Orville_Brown
Newbie
*
Offline Offline

Activity: 22
Merit: 1


View Profile
August 03, 2018, 10:29:47 PM
 #118

"If Bitcoin prices drop below the cost of mining" miners just stop their operation and use the money they use for electricity to buy Bitcoin. Free market will be adjust according to the supply and demend. Nothing to be worry about to much.
That will be a huge mistake, I have seen people say that the bitcoin they mined back in the day when it was not profitable to do so was in fact the most profitable of all, the miners have a lot of money they are not going to suspend their operations just because it is not profitable at this time, since they know the price of bitcoin will recover and the bitcoin they get can be sold for a profit in the future.

Suppose your cost of mining is $6000 per bitcoin and the price of a bitcoins drops to $5000. Are you going to mine 1 BTC for $6000 or are you going to buy 1.2 BTC for $6000? A smart person would stop mining and buy the 1.2 BTC.


Survival of the fittest. That's why the system works so well. It's actually designed in an evolutionary way to ensure continual development and destruction of the old if they cannot keep up with the times. It's really clever if you think for a moment. A self-cleaning mechanism for when corruption or laziness or greed set in. It cuts all of the non-performers out at the bottom by making the mining process too costly for them, and then opens up a path for whoever wants to join in, providing they can do it better than those did before. Better keep yourself afloat or get out.
TheClownSong
Sr. Member
****
Offline Offline

Activity: 546
Merit: 250


Tackling Climate Change Using Blockchain


View Profile
August 04, 2018, 12:18:51 AM
 #119

I think if bitcoin price not profitable for miners, they must be wont to mine bitcoin anymore and no bitcoin transaction can be processed. It will hurt to bitcoin price. But in several country, there is miner have lower cost compare with others country because electricity cost more cheaper


▄████
██▀
██
██
██
██
██▄
▀████


                █▄
               ▐████▄
     ▐▄        ███▌██▌  ▄▄▄
 ▐▄   ▀▌        ▀██ ▀▄█▀▀▀████▄▄
  ▀▌    ▄█▄       ▄▄ ▄▄▄█████████▀
  ▄▄███████▄   ▐█▀  ▀███████▀▀
 ▀██████████▌  █▌      ▀▀▀
   █████▀▀     █
     ▀  ▄█    ▐█
         ▀█▄ ▄█▌
           ▀▀▀

████▄
  ▀██
   ██
   ██
   ██
   ██
  ▄██
████▀



      ▄▄██▌ ▐██▄▄
   ▄██▀▀       ▀▀██▄
  ██▀     ▄████▀  ▀██
 ██      ▄███▀      ██
▐█▌     ███████▀    ▐█▌
▐█▌    ▀▀▀███▀      ▐█▌
 ██      ██▀        ██
  ██▄   █▀        ▄██
   ▀██▄▄       ▄▄██▀
      ▀▀██▌  ██▀▀
ENERGIS TOKEN SALE              REGISTER NOW!

PRIVATE PRE-SALE IS NOW OPEN FOR CONTRIBUTIONS

WHITEPAPER      TELEGRAM      TWITTER      BLOG      REDDIT
Kakawate
Full Member
***
Offline Offline

Activity: 336
Merit: 100



View Profile
August 04, 2018, 12:42:37 AM
 #120

In my opinion, Bitcoin mining is meant to come to an end, knowing that the number of bitcoin is limited, miners knows this, as well as the whole cryptocommunity, But it doesn't dictate the demand of bitcoin, if the consumers continues to value bitcoin or any other cryptocurrencies then the cryptocommunity will continue and bitcoin will survive. Of course by this time, bitcoin miners would have definitely find another way of earning money. I think even though the miners have completely mined all the bitcoins out there, the crypto world would continue. 

Pages: « 1 2 3 4 5 [6] 7 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!