asdalani
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February 08, 2018, 09:10:14 PM |
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Yes of course, the more profit that minner bitcoin get the more people want to be bitcoin minner the more people who interested to bitcoin then the price of bitcoin will be increase, its about sentiment, if people think that there are many good potential in bitcoin then people will buy bitcoin thwn cause to the increasing price of it.
I also think that way but as we can see number of miners did not affect the price of bitcoin. Usually, if there are lot of miners then probably it is difficult for a block to mine. The mining is difficult and it is unprofitable if there are lot of competitors in mining. It would affect the price of the coins on the market if the miner decided to sell all the coins that he made from mining Bitcoin.
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beskid
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February 08, 2018, 09:15:21 PM |
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The price of bitcoin in 2009 was well below $ 5,000 and miners still extracted it. Even with the lower complexity of production, bitcoin did not bring that much profit. For miners, there is a fixed reward and bitcoin production is due to the enthusiasm of miners. And the bitcoin price is basically from demand.
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PatronRH
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February 08, 2018, 09:56:26 PM |
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I don't think that mining affect bitcoin a lot. Though mining increases the number of bitcoin a lot. Yet I think what really affects the price of bitcoin is really the matter of demand. It's a question of demand and supply. As long as we have demand for it the price is always gonna be high.
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AGD
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February 08, 2018, 10:18:24 PM |
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In the long run, Bitcoin price will tend towards mining cost. Even Satoshi knew that. Edit: In the even longer run it will relate to the transaction fees, since mining will be over after the 21Mio limit.
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BelieveInBitcoin
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February 08, 2018, 11:46:27 PM |
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I think the mining cost sets the lowest value of Bitcoin, but the highest value depends entirely on market sentiment (which is why it varies so much). Because of the mining cost, though, I don't believe it can every go really low again (say $1000 or so).
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bicoin110
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February 09, 2018, 01:25:50 AM |
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yes, when price go up, so minnig will continued by miners, but when price fall, some miners do not work in the pool
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ganlianshifu1
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February 09, 2018, 01:26:29 AM |
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The production cost of BTC is about: mining machine, electric power, site, personnel, logistics and other expenses.
It can be seen that if the price of BTC is not enough to cover the cost of mining, then a lot of minerals will be shut down!
The impact of mining cost on BTC price is also huge!
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Random Seller
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February 09, 2018, 01:30:21 AM |
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The production cost of BTC is about: mining machine, electric power, site, personnel, logistics and other expenses.
It can be seen that if the price of BTC is not enough to cover the cost of mining, then a lot of minerals will be shut down!
The impact of mining cost on BTC price is also huge!
If the miners shut down, difficulty will also decrease. This will once again encourage miners to mine again. Bringing the market to an equilibrium.
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coynedterm
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February 09, 2018, 01:35:47 AM |
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there was a saying is that ,btc's price can not drop down bellow its mining cost.e.g,if btc's mining cost is 5000 $,btc cant drop bellow 5000 $,if the price is lower than 5000$ ,the mines could be paralysised ,so btc transacion cant work either.the statement sounds reasonable.to avoid this situation ,btc's price must be above its mining cost. On other hand, the difficulty of mining btc is growing harder and harder ,if one day the mining cost goes up to the moon ,e.g, 100,000,000 $,would the price of btc also go to that level of price?but the height of price cant be maintained that high,people would of course change their btc to fiat currency,so i think its quite contradictory to ballance btc price and the mining cost.what do you think of this paradox?
In actual here this factor joined with the bitcoin's price indirectly . Most of the people where mining profitable make mining of the btc ( e.g in China ) but at that cost at which they get bitcoin don't ant bitcoin to sell Because they want make some profit from the bitcoin sell at high. Price , so surely they will hold bitcoin for that time until the price get up than at hat rate they made bitcoin . So here we can say that there is a type of basic support of the price of the bitcoin with the miners mining rate of cost .
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gareng1468
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February 09, 2018, 02:39:31 AM |
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I think it does not matter much because mining Btc also requires investment and operational costs. there are still many ways to get btc. maybe someone can explain in more detail
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ALI AKBAR
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March 21, 2018, 07:14:49 PM |
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It affects but nothing more. It can determine the lowest price of Bitcoin but not the highest. Bitcoin is not made of mining. So its legit is not in the future. Prices of long-term Bitcoin prices will be trending.
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daarul50
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March 21, 2018, 07:44:45 PM |
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It is only natural that many would argue that bitcoin prices will not be lower than mining costs because miners do not want to lose, let alone miners' services is to confirm a bitcoin transaction within every block they mine. These factors obviously affect the bitcoin price and I'm sure bitcoin will continue as long as the miners are still actively doing their activities.
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Virtuxq
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March 21, 2018, 07:50:45 PM |
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the more benefit from bitcoin miner, the more people want to be a bitcoin miner, the more people who are interested in bitcoin, then the price of bitcoin will rise
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dear53
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March 21, 2018, 08:28:26 PM |
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Yes i think is is true that bitcoin mining cost affect for drop down bitcoin price.Mining bitcoin cost is very hige and people can not mining bitcoin now.If bitcoin mining cost going to low all people mining in bitcoin and as soon as bitcoin price winn increase soon.
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Xising
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March 21, 2018, 08:35:59 PM |
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Miners keep shifting from one coin to another just like investors do when bitcoin's price goes down or up. Miners will always mine the coin that is profitable for mining s mining cost is quite unlikely to affect price directly.
Its price mostly depend upon demand because supply is always limited regardless of number of miners mining it.
I agree. It's just that mining, right now, has been one of the most difficult and advanced ventures that not many dare to actually try it. It's expensive to support, plus the capital you actually need to shed off just to set up not one but several mining rigs just for the venture to be profitable. And as many coins are reaching their market cap, it becomes increasingly harder to mine coins. which means, I think that there is an effect to Bitcoin how much cost is needed for it to be mined. Although I think that it's not significant because there has been a lot of Bitcoin in circulation now, and whatever is being mined are just additional assets to do business with.
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BR0
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March 21, 2018, 11:48:20 PM |
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As far as I know that the btc price will affect the cost of mining, formerly the cost of mining is cheap and over time and bitcoin prices continue to increase then the cost of mining is also increasing. That's what I see so far.
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kingkonjac
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March 21, 2018, 11:55:00 PM |
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in my opinion that can`t be true because every miner has a different cost of mining which depends on some other factors in addition miners can mine and hold btc to increase by making the mining with lower costs than the price.
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xhoondilan
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March 22, 2018, 12:31:03 AM |
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I think the ming don't have any affects on bitcoin price, because the mean reasons why bitcoin rises up and slowong down is the market price, the more investors on bitcoin the higher its value is but when its not then it will gp down.
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Dmitry.Vastov
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March 25, 2018, 04:44:29 PM |
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there was a saying is that ,btc's price can not drop down bellow its mining cost.e.g,if btc's mining cost is 5000 $,btc cant drop bellow 5000 $,if the price is lower than 5000$ ,the mines could be paralysised ,so btc transacion cant work either.the statement sounds reasonable.to avoid this situation ,btc's price must be above its mining cost. On other hand, the difficulty of mining btc is growing harder and harder ,if one day the mining cost goes up to the moon ,e.g, 100,000,000 $,would the price of btc also go to that level of price?but the height of price cant be maintained that high,people would of course change their btc to fiat currency,so i think its quite contradictory to ballance btc price and the mining cost.what do you think of this paradox?
According to me, the valuation of BTC is somehow related to BTC but not that much completely because there are millions of miners through out the world, who are mining and according to which there should be the fluctuation in the valuation of BTC every second but it is not so. The valuation of BTC is mainly depends on the number of investors investing into BTC and the market price, higher the number of investors, higher will be the valuation of BTC.
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rose8963
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March 25, 2018, 05:13:38 PM |
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In my opinion, the cost of extraction will not affect the bitcoin value. But the operators themselves are smart investors. The paradox here is that they exploit to hold for change according to supply and demand rules. They can create long term FUDs without much impact on their process.
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