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Author Topic: What happens if bitcoin price falls below the cost of mining it?  (Read 1022 times)
Protonem
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August 04, 2018, 12:29:45 PM
 #121

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. 
Bitcoin supply is limited, but I am sure that not all Bitcoin will be able to be mining with the assumption that mining costs will be even greater, while now prices are falling. The period of earning money from mining is certainly no longer a profitable thing.

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August 04, 2018, 04:14:57 PM
 #122

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.

Miners will be losing profit and most of the people will be delaying on their transactions since miners will stop running the block chain but as of now, the state of the market is running good and bitcoins is on $7k dollars price.

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August 04, 2018, 09:00:09 PM
 #123

that would be a fools investment, when the cost of mining bitcoin is higher than the price, the value of bitcoin will fall and mining bitcoin wont be posible as much investment wont be placed on mining when on the real sense  the value is less than the mining cost.

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August 04, 2018, 09:02:36 PM
 #124

Maybe it will be a bad thing but in my opinion mining does not cause bitcoin to drop in price but new people invest in it and panic when the price of bitcoin goes down and sells the bitcoin they hold.
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August 04, 2018, 09:19:31 PM
 #125

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/).
I have heard about that happening in the past but for now I think it is not that possible as it was before. Because for now the interest of people on bitcoin as already too high for them to just forget about it and stop investing.

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August 04, 2018, 09:54:34 PM
 #126

I think it depends on the position of BTC when it happens. Probably the market will fall into crisis and crypto currencies will lose their hype, but I still don’t think that crypto will die in that case.

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August 06, 2018, 04:58:54 AM
 #127

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/).

The title is different from the body of this thread i dont know whats the connection between them

But i am sure this will not happen in future because bitcoin wont fall under that mining cost,and i believe that the value of cryptocoin now is stable and will move smaller percent from time to time

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August 06, 2018, 05:18:50 AM
 #128

Of course it will make costs very expensive, because it is expensive so automatically users will not send bitcoin and prefer other types of coins, I hope that the price of bitcoin continues to rise so it can reduce the cost of miners when sending bitcoin.


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August 06, 2018, 06:00:37 AM
 #129

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/).

I just don't get it, when 80% are already mined then the price will tend to increase as we're approaching to its supply. So the more bitcoin mined the higher the price can increase plus the demand that bitcoin gets. So what's bothering you now brother? However, bitcoin will still have a halving so it can somehow affect the price sooner.

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August 06, 2018, 07:33:40 AM
 #130

Either way, whether the price of mining is more expensive than the value of bitcoin mined, then it's all the same. Bitcoin will still circulate in the market. Besides, Bitcoin isn't the only crypto currency out there. We have alt coins to pick up the slack if ever bitcoin actually falls behind which i highly doubt.

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August 06, 2018, 08:07:32 AM
 #131

In terms of miners, this might be detrimental, but many users also want to have bitcoin at a low price, which can trigger a market demand that will increase the price of bitcoin. I want to know how much mining costs in your country? I think bitcoin only prices $ 100- $ 300 in 2014 and what do miners do, do you know?

          
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August 06, 2018, 08:27:14 AM
 #132

I haven't watched BTC mining too closely, but XMR's price is down 66% over the last 2-3 months but the total hash rate has barely budged, rewards are down and difficulty unchanged. I was expecting to see a significant drop in hash rate as miners dropped out but that hasn't been the case. What's going in with the economics here?
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August 06, 2018, 10:55:01 AM
 #133

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/).
I think that now in recent days this case is more possible than it was before and I think that because the mining price is significantly growing from the time that previous case happened.

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August 09, 2018, 07:40:36 AM
 #134

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.

Miners will be losing profit and most of the people will be delaying on their transactions since miners will stop running the block chain but as of now, the state of the market is running good and bitcoins is on $7k dollars price.

Each year the profits from mining become smaller and smaller, and the price of the equipment is growing. Despite it, I believe that Bitcoin is not going to fall so critically.

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August 09, 2018, 07:59:36 AM
 #135

True, about 80% of bitcoin has been exploited and bitcoin being exploited may not be as fast as it once was, the high cost of exploiting the remaining 20% bitcoin is certainly. The extraction cost may be higher than the bitcoin value, but it does not affect the bitcoin value.
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August 15, 2018, 01:10:25 PM
 #136

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. 
Bitcoin supply is limited, but I am sure that not all Bitcoin will be able to be mining with the assumption that mining costs will be even greater, while now prices are falling. The period of earning money from mining is certainly no longer a profitable thing.
Well if this happens, bitcoin miners will stop mining because of the expenses they are using in able to provide there needs and they just settle down. If this happens more probably the market will be down, if this happens more investors will come in because of the low value of bitcoin. With this the bitcoin's market will rise again. And so transaction continue at the same time the bitcoin will be the currency of the future.
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August 15, 2018, 02:37:01 PM
 #137

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 that happened i don't think anyone would want to waste their time investing on something can't make any profit. But since 80% of bitcoins have already been mined the possibilities of bumping in the that situation again is very low so we have nothing to fear of.
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August 15, 2018, 02:57:24 PM
 #138

It is possible that the price of BTC is lower than 10% of the cost price, but it is impossible to maintain in the long run, and the possibility of any speculative product falling below the cost price is very small.


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August 15, 2018, 03:00:19 PM
 #139

Of course there will not be anyone who transacts in bitcoin, as we know that the most preferred thing about bitcoin is the cheap transaction costs, when the transaction costs are very expensive that ever happened in December to February, it certainly makes people do not want to send bitcoin.


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Mihaylovic
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September 30, 2018, 06:39:06 PM
 #140

i dpnt think it is possible in short term. but if it happens, some miners give up mining and difficulty decreases. so remaining miners keep mining with a less mining cost due to lower difficulty. this system has its own internal balance.

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