most of miners are shutting down their gigs?

[rudox]

This can not be the end of bitcoin, It is only a passing phase which is normal with bitcoin over all these years. As some miners are leaving more miners are setting up to open for business, Bitcoin is here to stay and must continue its resilience till it will become the future backbone of all financial transaction globally. Stay put with crypto do not fear or cause people to be afraid.

[stompix]

~

Yes, This is a good point. Thanks mate.

Glad to be of help, and now you could help me out also and edit the title by adding "Guess not!" after the ?. 

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

Let's say you pay for electricity as well as the equipment for $1000 and you're going to sell the Bitcoin you've mined just for 300$.

No offense but the reason you're not a miner is because you pull numbers out of you know what:).
Here is a mining calculator, play a with it before posting something like this again.

Ps. the electricity price is set by default at 13c/ kwh, you can change it at the bottom as no miner is working with those prices.

It would be interesting to see if there would be a significant increase in transaction cost.

Transaction cost has nothing to do with miners.
Indeed we are seeing bigger interval between blocks, at around 11.5 on average but the mempool is pretty empty and we still get half full blocks.
The only way it goes up is because of people panicking and rushing their coins around.

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

This started the oh were doomed topic avalanche:
https://www.coindesk.com/600k-bitcoin-miners-shut-down-in-last-2-weeks-f2pool-founder-estimates

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.

Everything right except for the bolded part.
The s15 might be better at hashing but with the initial costs...it just sucks.

[nicko122]

The higher the price, the greater the profit from bitcoin. Some people do not want to risk and spend money on the extraction of currency in which they themselves do not believe. At the same time, there are many people who continue to do the same and mine cryptocurrency.

[bitfocus]

if some miners think that mining is not profitable and shuts down their machines, will you stop believing in Bitcoin? - if Yes, you need to stop beleiving every thing that comes packed as "Could be The End of Bitcoin" and get a little matured.

[ShadowBits]

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

Maybe that is the other plan of all other mining companies, to make them stop mining and take it all for themselves.

[pat4cryptoreal]

There is no business that have assurance of profit all through, In every business there is always a time of loosing and a time of making gain. Those that can not withstand can quite so that others will take over. Bitcoin will not end just because of fluctuation in price.

[131tc01n]

the end of bitcoin is not determined because there is no miner, even bitcoin can still continue to grow even without miners, we only need an investor, people who both support so that bitcoin continues to grow and stay alive

[smitchh]

I don't think all miners will stop mining. Maybe the price will grow next month and all miners will come back.

[anushkasachith888]

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.

Why do you say inefficient miners do shut down their rigs is a good thing in long run?

[franky1]

people still forget that new more efficient asics are incoming. many are already operating now. (they call it quality assurance testing, but yea they are making money)
its not doom. its just the start of a new day, you just have not seen the sun rise yet

[KuyaBreezy]

The only miners who have to worry about that are those who were taking advantage of the subsidized energy of some countries, it is true that mining now is not as productive as before, but you can still make profits if you mine the right currency.

[Kakmakr]

Some of them just switched to Bitcoin Cash <ABC> to stick it to Bitcoin Cash SV, so they are just going to temporarily mine that, until one of these coins gets dominance. After that, they will switch back to Bitcoin and things will return to normal. The drop in the price did cause some miners to scale down or to shutdown their miners, because they most probably mined with very expensive electricity.

The difficulty will drop after a lot of people left and the price of the coins will increase and they will come crawling back.  This is definitely not the end of Bitcoin. lol

[denzkilim]

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.

100% correct explanation there bud! Miners are just like the same as people these, people come and go so do the miners do but every time there are miners going to quit on what they are doing, it will be an opportunity for the others that are planning to mine Crypto Currencies and enter this industry. You're correct, losing some miners doesn't mean it is the end of Bitcoin or any certain kind of Crypto Currencies that can be mined, some people think so negative to the things that they don't understand completely but life still goes on.

Some miners will, others will not. It's the same with holders. Some will sell, others will not. It doesn't change anything in the long run. When Bitcoin was worth 2$ and pumped to 26$ some people sold and became millionaires in 1 day. Did that change Bitcoin? Did that had any impact on the world economy? It's as significant as you selling or buying right now. Bitcoin or the economy won't even notice you.

Another correct explanation again! Only a small portion of miners shuts down but the big ones are still running and it looks like they would not stop from what they are doing as long as they gain profits with it.

[hirokazu]

The difficulty will drop after a lot of people left and the price of the coins will increase and they will come crawling back.  This is definitely not the end of Bitcoin. lol

Yeah, I see. They more look like taking a break for now. Later, when the difficulty level is low, they will undoubtedly return. After that, anyone would want to mine bitcoin. Because they will see a fresh field to be mined again,

[franky1]

The s15 might be better at hashing but with the initial costs...it just sucks.

a unused s9 is $850
a unused s15 is $1450

s15 is 28thash = 2x s9(14thash)
s15/2=$725
s15 wins

also s15 is 1.6kwh. so s15/2=0.8kwh,   unlike an s9 which is 1.3kwh
s15 wins again

what people dont realise is what happened in october
       _
      /  \
    _|
   /
  /
 /
/

this is normal hashing rises prior to october where more s9's are steadily added
this is them not adding more S9's
this is the initial replacing 1s9 for 1 s15
thus going back to normal steady rises but where they would only turn on 1 s15 when they would normally turn on 2 s9
this is them turning off some s9's and swapping 2s9 for 1 s15 (flat swap)
this is them realising they could actually take 8s9s out and only put 3 s15s and still win blocks while not having to run as many rigs

you can see on the hashrate charts the curve. though stretched out and zoomed out you dont notice the curve as much
forgive the colouring below. but i grabbed an earlier image i done to show some other topic something

the smaller image within the image is the 12 month hashrate. the larger image is a zoom on the october/november curve

looking at the image within the image. the blue highlight is normal action. the pink highlight is the initial purple flatline
the yellow highlight is the green orange purple red curve explained above

[dr_chen]

Actually, we don't need so many miners and we have experienced an increase on number of miners becuse of rocketprices of bitcoin in last year. If the amount of hash decreases, the rewards will be higher, mining will be more feasible, and it will be an opportunity for the survivers. So many people jump into this business, some of miners have low budgets, and there was a chaos. Now, mining service can be performed more professionally.

[Bitfling]

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

I am believe its just temporary. Miners shutting down their gigs because its not profitable anymore for mining bitcoin and beside that, maybe they trying to replace the device with new one that more efficient

[ansarose1]

This is because of bitcoin's decreasing price and takes to a next level of continuity dropping price. Most miners quit at bitcoin mining and try a new one with BCH bitcoin cash alternatively.

[Ararbermas]

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.

true. 'cause it's just a news which is still have no specific reason until now despite of this consecutive down falls.  For me must grab some now for long run instead of worrying and waiting for more results 'cause in fact market now is searching for new strong bottom stage , which surely IMO it will suddenly changes direction after and will make a high jump like what always happen . So must stop searching causes about the circumstances and grab the opportunity man 'cause that's the good idea for now to don't miss the up coming train again.

[DaddyMonsi]

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

There was an article about miners in China shutting down their rigs and this has nothing to do with cost of electricity or difficulty, but this is more on the equipment itself reaching the lifespan where it needs to be shut down or replaced or else maintenance of such equipment will be more expensive.