most of miners are shutting down their gigs?

[Cryptoreflector_666]

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

Not at all. You have to understand first of all that when one person sells something, there will always be another-who buys from him. This is the law of economy and trade. Here may be the situation is this: people specifically sell at low prices their technical resources for mining, in order to bring down the price and buy more.

[andika2018]

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

From the news i read, its true many bitcoin miner shutting down their device but i dont think it will be death for bitcoin. Bitcoin will survive because cryptomarket is at early stage. I am believe market will recover and market cap will reach highest value again in near future

[cahbagus555]

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

From the news that i recently read, its true that many bitcoin miners shutting down their gigs. Its because they can not make profits with current bitcoin price. Electricity cost is main factor why miners shutting down their rigs

[Experia]

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

it is not an organization that once their leader told them that they will shut down they are will all do it, imagine you will spend lots of money but in the end you will end up shutting down your rigs. and also if one shut down it is an opportunity for the others to build their own.

[btc-room101]

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

From the news that i recently read, its true that many bitcoin miners shutting down their gigs. Its because they can not make profits with current bitcoin price. Electricity cost is main factor why miners shutting down their rigs
[/quote

The ignorance of mining here just shows you that virtually nobody on this forum mines, or does anything real or productive with bitcoin.

The simple fact is if you run a miner now anywhere on earth you lose money, at the current price.

Lets see today,...

Day   0.000000   0.000538   0.000538   $2.16   $3.29   -$1.13

whattomine.com

so right now today, if you mine bitcoin, on an s-9, you lose $1.13 everyday, ...

the point of mining was to make a profit, but I know HODL'rs cannot grasp this as they only seek loss

[bayu7adi]

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 $1000 and you're going to sell the Bitcoin you've mined just for 300$.

if the price of bitcoin can be better in the future, that means we can get more money if we sell at the right price and time
maybe now the price of BTC is dropping, but who knows what will happen in the next few years?
and what happens when the BTC allocation to the mine is up? can fly high to the moon, and the worst possibility is to fall to the bottom of the trough
all of this is only based on the beliefs of each miner

[sambel90129]

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,

actually only because of the benefits offered from time to time, many of the miners are changing direction, actually by buying and selling if we do not really understand the very risk, indeed offering a lot of benefits are always echoed but, we do not realize the huge potential losses await if we misstep, it is very different if we do mining, indeed the benefits are not as bad as buying and selling, but the potential losses that can occur are almost nonexistent.

[DigitalCyberius]

I heard recently that some miners were selling their rigs at scrap metal prices to try to make up for losses, as mining was becoming/had become non-profitable. If true, of course, it doesn't mean all miners, and it could be that they were only scrapping certain machines, like older models. In of itself, I don't think this spells the "end" of Bitcoin... if it was happening on a massive scale, and prices continued to drop, it could be a contributing factor to some negative effect, but not the only component, and not (necessarily) the end.

The Cyberius team.

[Youghoor]

Yes, they were selling the copper on kilograms.

But it is not because it is not profitable anymore, you did not read well. They are just doing that with the old equipment, not the new one.

That notice was badwritten, and it confused a lot of people already

I heard recently that some miners were selling their rigs at scrap metal prices to try to make up for losses, as mining was becoming/had become non-profitable. If true, of course, it doesn't mean all miners, and it could be that they were only scrapping certain machines, like older models. In of itself, I don't think this spells the "end" of Bitcoin... if it was happening on a massive scale, and prices continued to drop, it could be a contributing factor to some negative effect, but not the only component, and not (necessarily) the end.

The Cyberius team.