What if bitcoin seems to average about 7500 USD

[Eleanorbro]

Just suppose...

What if bitcoin seems to average about 7500 USD or so over a very long period, like a year or even more. Currently, this isn't high enough of a value in USD to really mine anymore with GPU's, if mining for profit in USD anyways. I do not mine with ASIC miners and I really know very little about them, even though I almost bought a Bitmain Antiminer S9 before I build my 8 GPU rig.

Will mining taper off to little to nothing, will difficulty levels be adjusted to compensate miners, or what else?

I would be interested to know some thinking on this, should it become a reality or even close to a reality for some length of time.

[Sojuculture]

Unlikely the price will be stable that long. Bcos the whales will pump the price to get the next bag holders until crypto becomes mainstream.

[pawel7777]

Will mining taper off to little to nothing, will difficulty levels be adjusted to compensate miners, or what else?

Yes. That's equilibrium mechanism: when mining becomes less profitable, the less efficient miners start dropping off, hashrate goes down, so does the difficulty (it adjusts every 2016 blocks). The remaining miners are getting bit more bitcoins for the same hashpower which compensates for the drop in price.

[Mytoken]

If Bitcoin's price averages $7,500, then mining is still profitable, and when Bitcoin prices stabilize, it can do more, such as replacing gold!

[Juggy777]

Just suppose...

What if bitcoin seems to average about 7500 USD or so over a very long period, like a year or even more. Currently, this isn't high enough of a value in USD to really mine anymore with GPU's, if mining for profit in USD anyways. I do not mine with ASIC miners and I really know very little about them, even though I almost bought a Bitmain Antiminer S9 before I build my 8 GPU rig.

Will mining taper off to little to nothing, will difficulty levels be adjusted to compensate miners, or what else?

I would be interested to know some thinking on this, should it become a reality or even close to a reality for some length of time.

I don't think it's possible for Bitcoins to keep a stable price for a year, as we'll have seen it's very volatile and difficult to predict in which direction it's prices may go. However let's take a hypothetical situation, and assume it does happen then yes then the equilibrium mechanism will be in effect, for those miners mining during this period they'll be compensated more bitcoins to make up for their losses.

[tomahawk9]

What if bitcoin seems to average about 7500 USD or so over a very long period

I'd rather have a long period of consolidation around that price than constant up and downs. But we know it's not gonna happen, bears will be too eager to see prices going down to trigger a massive sell-off so that other bears can buy cheap, while the bulls will get bored of seeing the same number for such a long time and they'd want to trigger a btc rally. At the end of the day, the market cycle will not allow the price to stagnate at 7500.

[davis196]

This topic is more about bitcoin mining,rather about bitcoin price speculation.It should be moved to the "Mining" sub-forum.
OP,do you think that the miners really care that much about the current bitcoin price?Maybe they just mine bitcoins to HODL them for the long term.The electricity costs might be covered by other revenue or by loans.
If altcoin mining becomes more profitable,they will switch to altcoins.

[1Referee]

It's perfectly fine. I think the larger miners will actually prefer a longer period of time at which they can somewhat expect stable returns, while currently the difficulty has been going up consistently. Everything is better than seeing the price hover between $6000-$7000 with the difficulty increasing continuously.

Bitcoin's network is already so insanely large, that 10-20% more or less hashrate isn't going to compromise security too much.

Back in 2015 Bitcoin was stuck below $300 for what almost looked like an eternity, and the nature of mining in general adjusted itself to that situation. Great thing is that we as simple users aren't really exposed to that. Miners know what they buy themselves in so it's all part of the game. Money doesn't grow on trees.

[trako]

if it is at $ 7,000 and $ 8,000, it will stabilize. mining does not hurt. a lot of coins start to move after a while. commerce harket wins. There is trust in the markets. and btc prices are making it necessary to raise the bottom.
My opinion is this way. and that's all we need for the bull season.

[Albert211994]

I do not see any problem with the price of bitcoin settling at $7500. That is high enough to support the miners for all their expenses with enough profit until the next halving.

[gilangIDR]

if it is at $ 7,000 and $ 8,000, it will stabilize. mining does not hurt. a lot of coins start to move after a while. commerce harket wins. There is trust in the markets. and btc prices are making it necessary to raise the bottom.
My opinion is this way. and that's all we need for the bull season.

The price of Bitcoin is still at the level of 6500 $ at this time, some time ago there was a decline but now the price has begun to stabilize and I am optimistic that prices will rise again. We all really hope there will be a price standard so that the risk that might occur is even smaller. Trust in bitcoin is the main capital, because when we don't believe, we can't dare to make a decision to invest in Bitcoin.

[YuginKadoya]

Right now the price of Bitcoin is $6,545.75 USD at the moment, For me, The price is still considered fair enough high, Actually, If the price would stay in this level for almost 1 year I really think this could change the way some government think about Bitcoin and Cryptocurrency because it seems they only don't consider this Currency is because of the fast fluctuation involve with its value, And the fair for miners would still be high enough so I think it will not gonna turn to be a problem at all, But for investors and traders that love that sudden spike on the fluctuation I think they would not love this kind of movement.

[exstasie]

What if bitcoin seems to average about 7500 USD or so over a very long period, like a year or even more. Currently, this isn't high enough of a value in USD to really mine anymore with GPU's, if mining for profit in USD anyways. I do not mine with ASIC miners and I really know very little about them, even though I almost bought a Bitmain Antiminer S9 before I build my 8 GPU rig.

Will mining taper off to little to nothing, will difficulty levels be adjusted to compensate miners, or what else?

I would be interested to know some thinking on this, should it become a reality or even close to a reality for some length of time.

If price stays stagnant long enough, then the difficulty trend should reverse as unprofitable miners shut down their rigs. Difficulty should broadly follow price (though it does so inefficiently).

But it's a question of time. I think the new mining manufacturers competing with Bitmain and many of the larger mining operations are very well capitalized and can weather the storm for many months or probably years. I wouldn't be surprised to see difficulty hold strong through a prolonged corrective or bear market.

[qualitywork]

Unlikely the price will be stable that long. Bcos the whales will pump the price to get the next bag holders until crypto becomes mainstream.

Yes neither bitcoin nor altcoin price will remain stable for a longer period of time due to the fact that whales will pump and dump the market based on their requirement.

[BitHodler]

If the price would stay in this level for almost 1 year I really think this could change the way some government think about Bitcoin and Cryptocurrency because it seems they only don't consider this Currency is because of the fast fluctuation involve with its value

I don't think it will change the way governments think about Bitcoin at all. I would even say that it's more likely that it will slow down regulations with how everything thrives on the market to go up.

If the price remains stagnant for a long period of time, there generally doesn't seem to be happening much from both the user and corporate side. This bear market is really showing how everyone banked on the bull run last year.

We're in a position right now where we can see how the bear market is stress testing the patience of everyone in this industry. Give it a couple of more months to see how much further we are in that regard.

[gabmen]

Unlikely the price will be stable that long. Bcos the whales will pump the price to get the next bag holders until crypto becomes mainstream.

Yes neither bitcoin nor altcoin price will remain stable for a longer period of time due to the fact that whales will pump and dump the market based on their requirement.

Yeah that's one major factor to consider. There are those who have enough btc to move the market and i don't think these people will allow the price to be stagnant for a very long time.

[Aikidoka]

Unlikely the price will be stable that long. Bcos the whales will pump the price to get the next bag holders until crypto becomes mainstream.

I think it is a fact that the big whales are in control of the price. They can manipulate it and control it as they want. But let us not be pessimistic because they do so. We also have a role. You can see many people lose hope and faith in bitcoin. They also fear and freak out, then sell their bitcoin with a very cheap price which is an utter loss if you ask me. Moreover, if people manage to control their emotions and calm themselves, they will gain a good profit in the future.

[supermine]

Just suppose...

What if bitcoin seems to average about 7500 USD or so over a very long period, like a year or even more. Currently, this isn't high enough of a value in USD to really mine anymore with GPU's, if mining for profit in USD anyways. I do not mine with ASIC miners and I really know very little about them, even though I almost bought a Bitmain Antiminer S9 before I build my 8 GPU rig.

Will mining taper off to little to nothing, will difficulty levels be adjusted to compensate miners, or what else?

I would be interested to know some thinking on this, should it become a reality or even close to a reality for some length of time.

If you found that your current miner no longer be able to mine the coins with profitable rate then you should plan accordingly for that you should move to ASIC miner or just mine other coins with your GPU miner since there are lot of worth coins available to mine with GPU and you can convert them into bitcoin which is more profitable than direct mining of bitcoin.

[Strufmbae]

Well suppose to have atleast averaging 7500 is a good one for new investors of the best crypto asset,  but how about those who have hodl on late dec 2017? Do you wanna say that it is still worth hodling bitcoin and selling it on that average price? It is supposed to but not should be stable.

P. S.
Change better and strong miners.

[cryptocrusher]

Most people already covered the mining aspect and that's that the difficulty would just change. I think that's never really occurred because price seems to adjust quicker than difficulty does. From a use point of view a stable price would be a promising point because it would remove the volatility which is a large negative for many considering using bitcoin as a currency.