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Author Topic: If bitcoin wasn´t affordable to maintain?  (Read 33 times)
nrm4bits
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April 05, 2018, 02:44:51 PM
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Will miners still doing their job if bitcoin´s price goes down to a point where maintaining the network wasn´t affordable as a business?
Would you like bitcoin if its price returns to 1 BTC = $1?
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mersal
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April 05, 2018, 02:59:34 PM
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Will miners still doing their job if bitcoin´s price goes down to a point where maintaining the network wasn´t affordable as a business?
Would you like bitcoin if its price returns to 1 BTC = $1?

If the bitcoin value is equal to dollars there are no big attention will going to bitcoin investment or mining people are withdraw bitcoin to other bussiness but it is not happen at anytime .
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April 05, 2018, 03:07:41 PM
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I wonder are you ready to operate at a loss? I'm sure not. Then why do you think that miners have to suffer losses so that you can make transactions. There must be parity in everything. If the price of bitcoin fell to the level of the cost of electricity, you can rest assured that mining will stop.
nrm4bits
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April 05, 2018, 03:22:14 PM
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(...) why do you think that miners have to suffer losses so that you can make transactions (...)

I certainly don't think so.

If the price of bitcoin fell to the level of the cost of electricity, you can rest assured that mining will stop.

Is that so? At the beginning when 1 BTC's price was as low as $0.003 there was people who believed in the project even if they had to take some money out of their own pockets.
kevoh
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April 05, 2018, 08:21:17 PM
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At the beginning when 1 BTC's price was as low as $0.003 there was people who believed in the project even if they had to take some money out of their own pockets.


The market has evolved beyond the way it was in the beginning. Mining difficulty not as easy as it used to be with increased cost for mining and a lot of stakeholders invilved there's no way anyone will be doing pro bono mining now!

Eternu
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April 05, 2018, 08:54:00 PM
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Chances for Bitcoin's price to drop down to 1$ is slim, but not impossible. If that would to happen after everything that Bitcoin went thru, such huge drop in its price would kill it for sure.

But I guess that most of the miners would leave long before that. First to leave would be smaller mining projects, and at the end only those with huge faith in BTC would be left to mine. But at the end even they would leave for some alternative and more profitable coins. No one likes doing something for nothing.
Those miners at the beginning mined because they believed BTC will be worth something in the future, why would miners mine when they know everything is falling apart?
nrm4bits
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April 05, 2018, 09:50:45 PM
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I guess everything was said, thks to all, now i will block the thread to avoid spammers doing their job Grin
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