most of miners are shutting down their gigs?

[anushkasachith888]

I heard most of the miners are shutting down their gigs, Is it true? So, Is this the end of Bitcoin? 

[stompix]

Most means at least 51%
We had a 7% difficulty drop last time and maybe another 10-13% this period which is hardly even 1/4.

So it's not true and it's not the end of Bitcoin.

LE
To get a better picture, the chain still has five times more hashrate than during the 2017 pump.

[anushkasachith888]

Most means at least 51%
We had a 7% difficulty drop last time and maybe another 10-13% this period which is hardly even 1/4.

So it's not true and it's not the end of Bitcoin.

LE
To get a better picture, the chain still has five times more hashrate than during the 2017 pump.

Yes, This is a good point. Thanks mate.

[maman567]

Many miner have sold their miner tools because lower budget and earning getting every day, we have stop for take profit with miner and try other way for getting profit with bitcoin and altcoin,

[joeperry]

Well if I'm a miner too I will also shut down my rigs, why?

First of all as you can see the market and the Bitcoins price it's dropping nonstop. You have invested to buy equipments, paying electricity and maintenance of the equipment just to mine a coin that the price is dropping isn't? Let's say you pay for electricity as well as the equipment for $1000 and you're going to sell the Bitcoin you've mined just for 300$.

[Marcel666]

A drop of in number of miners would also create an opportunity for the existing miners as the reward per block would be shared among fewer numbers.
I don't think we at a calamitous drop yet, and it's definitely not the end of Bitcoin.
It would be interesting to see if there would be a significant increase in transaction cost.

[sorrysteve1]

No - it's not true. Many can still profit at current prices and hash rate is continuing to increase over time. If some inefficient miners do shut down their rigs then that's probably a good thing in the long-run.

[Velkro]

I heard most of the miners are shutting down their gigs, Is it true? So, Is this the end of Bitcoin? 

FUD spreading for pump and dump purposes. Thats it.
Bitcoin is GLOBAL and miners are global. If enough of them quit mining will be profitable again.
Remember also, that many miners keep their coins waiting for better price.  So they can mine with loss for couple years, to sell with huge gain later on.

[PeRo]

It's not most of the miners, you have maybe heard of miners in China. I don't know why did they react like that, but they are selling their miners for 10% of the original price. At least it is a good opportunity for others, you can buy several of miners for the price of one and make a good profit when the market stabilizes a bit.

[btc_angela]

I heard most of the miners are shutting down their gigs, Is it true? So, Is this the end of Bitcoin? 

Maybe what you heard is that miners are shutting down their old mining gear and replace it with the new one. And I will just re-inforced what other has said, its not the end of Bitcoin, although we saw some drop on the hashrate lately, I'm sure those who move out in favour of Bitcoin Cash ABC or SV will go back to bitcoin because its more profitable to mine it and not those alt coins.

[bayu7adi]

does China do the same thing? which is selling all their mining equipment?
Seeing the price is getting lower, I am also very sad, because the miners who have been running since pumping in 2017 are not necessarily getting their ROI
Hopefully there is the best solution for miners at this time, considering the operating costs are not small

[Ravenangel]

Bitcoin to stay does not need to have a massive number of miners, also remember that once the amount of hash decreases the rewards will be higher and that will call people again, you can also proceed to a model where they benefit more from fees, as will happen when there are no more blocks to mine.

[M4NDELL]

A month ago, there was no talk about the cessation of mining activity, and over the last week Bitcoin went down sharply, so when did the miners manage to sell their equipment and go to work in factories? Everyone continues to extract bitcoin and only think about what to do if the fall continues.

[creeps]

I heard most of the miners are shutting down their gigs, Is it true? So, Is this the end of Bitcoin? 

News is just a news, we don’t know if this is true or not but I know bitcoin will not end this year. Miners will continue to mine bitcoin because i believe they are the real supporters of bitcoin.

does China do the same thing? which is selling all their mining equipment?
Seeing the price is getting lower, I am also very sad, because the miners who have been running since pumping in 2017 are not necessarily getting their ROI
Hopefully there is the best solution for miners at this time, considering the operating costs are not small

Big miners are still in this market so nothing to worry about, and China is just another Country who is trying to kill bitcoin, well I know they will not succeed on that because bitcoin will never stop from fighting for the best in the future.

[Coyster]

I heard most of the miners are shutting down their gigs, Is it true? So, Is this the end of Bitcoin? 

You probably heard wrong I guess..
Can you provide a valid link to this supposed information,maybe then we can start believing otherwise..
This is part of the manipulation plan in my opinion to spread panic in the bitcoin system,but as always we'll ignore such information as we're well used to it, and also used to how the bitcoin bounces back after a brief crash

[abojamal]

Most means at least 51%
We had a 7% difficulty drop last time and maybe another 10-13% this period which is hardly even 1/4.

So it's not true and it's not the end of Bitcoin.

LE
To get a better picture, the chain still has five times more hashrate than during the 2017 pump.

The miners also use worn equipment to make them lose money
It is necessary to keep pace with modern machines to make profit in the mining industry.

[darkangel11]

While some miners are shutting down, others are buying newer and cheaper mining rigs to begin mining in the new season. Bull market is inevitably coming next year and buying cheaper hardware now, when people are getting rid of it, can be a very profitable move. People are always bad at calculating and emotional and don't see that crypto has its seasons. Now it's Winter, but there will be spring and Summer again.

[yazher]

That's only because they realize that they can't get their Return of investment anymore after the price has gone down, Instead of pursuing it, it is a wise decision for them to stop right now and to continue later and maybe some of them are bound to mine other coins than bitcoins, because the other coins are still had the potentials within them.

[bloodyvio]

based on information from this site https://bitnodes.earn.com/
more than 10k nodes are still running
this is the end of bitcoin?
of course NO..!!

[shield132]

I heard most of the miners are shutting down their gigs, Is it true? So, Is this the end of Bitcoin? 

It was correctly mentioned that most means 51% and over.
Well yeah, some miners are shutting down their miners because currently even with free electricity mining isn't profitable. It happens because not everyone is able to handle loss, again big miners try to keep market. Don't blame me but still I think this price fall has to do something with mining, small players are going out of market and for example bitmain will have new and great antminers, they'll try to fill 1-2% loss and mine with better equipment and less difficulty. After that, price will rise.