Mining: Halving will destroy the half of us.

[snipie]

Less than two weeks (~12 days) from the halving and the price is rising near $9k which is good imo, the essential part is to maintain this progress until the halving. Such thing could keep as much miners as possible...

[Reid]

But what if the price of bitcoin will suddenly soar?
Will that be enough for them to stay?

Yes, it might be a great chance for small miners but if the difficulty is still high can they really afford it with the price still the same?
I know they will need to pay a lot for monthly electric bill and there is the thought of having ROI for the equipment used but can they still risk that much? Will you? If ever?

[Ucy]

The price will adjust but there's a tendency that they have to shut their small miners and wait for that price adjustment to come. Maintenance and other costs can't be sustained anymore if the price won't adjust and that's the final resort that they must do.

Not unless these small miners are using:

wind power or solar panel will be exceptions for obvious reasons.

and also cheap electricity.

Small miners could still be affected If the rewards continue to get slashed every four years, price of energy & hardware remain thesame or doesn't reduce substantially, while coin price doesn't move up very much. Community probably could do away with miners and replace that with something more sustainable and decentralized or find other ways to incentive & keep the small miners

[bitgolden]

"Small miners" is not really a thing that means something forever, there are small miners who are small right now, but in few years they will be using the machines of right now, so they keep getting more and more machinery and stay small all the time. Halving is just a time when it hurts the finances of small miners right away, but in general there is ALWAYS big miners and small miners.

Big miners gets this huge amazing great product and starts mining right away, small miner has old machine and tries to make as much as they can, afterwards the machine big miner got that was awesome becomes older and there is a new one, so the big miner sells it and small miner gets it meanwhile big miner gets the new one again. This has been going on forever and it will probably go on forever.

So, small miners might take a hit during this period, they might want to close shop for a while and not mine anything, but eventually they will still make some money.

[figmentofmyass]

But what if the price of bitcoin will suddenly soar?
Will that be enough for them to stay?

chances are the market will meet in the middle.

look at what's happening with price vs hash rate lately. the price has gone through the roof---up to $9k from the $6000s last month---yet the hash rate is actually dropping now. can you believe that? a couple days ago, difficulty was set to increase ~2%. now it's set to drop ~1% and it looks like it will continue dropping further. miners seem to be shutting down in anticipation of the halving, no matter how bullish the market looks now.

the lack of blocks the past 2 days has begun causing quite the mempool backlog:

[countryfree]

look at what's happening with price vs hash rate lately. the price has gone through the roof---up to $9k from the $6000s last month---yet the hash rate is actually dropping now. can you believe that? a couple days ago, difficulty was set to increase ~2%. now it's set to drop ~1% and it looks like it will continue dropping further. miners seem to be shutting down in anticipation of the halving, no matter how bullish the market looks now.

the lack of blocks the past 2 days has begun causing quite the mempool backlog:

I know that so well!
BTC's price is just not rational.

Back to the subject, I used to believe small miners have disappeared years ago. If there's one left, I guess he/she has already switched to some altcoin.

[FlightyPouch]

Well, if they really wanted to get on that ride, they should really think of that. As halving happens, the difficulty also rises and that also means that those small miners will be having a hard time getting a profit if the price did not increase, but what if the price did? We don't know what might happen but if the price did, I guess that would be for the better not just for the investors but also for the miners especially to small miners.

[verita1]

There has been a lot of speculation regarding Halving 2020.
But to focus on the topic of mining. Hut 8 has stated that revenues and margins have decreased considerably in the last two quarters, with the halving there is the possibility that the mining platforms are not profitable. With a BTCitcoin boost, it could greatly benefit them.

https://www.coindesk.com/blockchain-bites-what-the-bitcoin-halving-means-for-miners-and-prices

[smyslov]

Poolin.com is one of the mining pools out there, its Vice President talked about it and gave his opinion, " Miners using old equipment will have to disconnect after halving"

The time has come for small miners isn't it?

They still can make a profit from mining other coins with similar halving with Bitcoin, or they can sell their mining rigs at even half of their price since they already mined a lot of coins in the past, this is the reality they have to accept and I'm pretty sure they know all of this before it comes.

[silversurfer1958]

The cost of mining for 1 BTC after the halving day will cost twice as much as it is today. Therefore, old technology excavators with weak processing power will be eliminated. Miners have to spend large sums of money to buy the latest technology miners with powerful processors many times more than before. All of the above factors will help the value of BTC will have a big pump  compared to the current price.

[Smitty Werben Man Jensen]

certainly everything will have an impact, Halving also includes having a big impact on miners, and depending on how miners arrange their strategies so as not to lose money, I'm sure miners don't just mine Bitcoin, there are lots of coins that can be mined, and I think if miners give up on it very ridiculous, considering the price of Bitcoin will reach 10x in the next few years, miners will know that

[mu_enrico]

Well if pumpers can raise the price for 2x and stay there for some time there will be no effect...
Block subsidy would be the same:
* 12.5 x $6,000 = $75,000
* 6.25 x $12,000 = $75,000

I think small time miners already destroyed in the last bear market, so this is battle between large farms.

[imstillthebest]

They still can make a profit from mining other coins with similar halving with Bitcoin, or they can sell their mining rigs at even half of their price since they already mined a lot of coins in the past, this is the reality they have to accept and I'm pretty sure they know all of this before it comes.

this isnt new but this were already discused many times before and as a miner they already do thier research before they start that hobby/job  so no worries  .  the one that i saw before is that miners are going to sold thier old miner and then obtain a new one to start mining again  while i dont think they mine other coins if they already mine btc because they can earn more on btc  plus whats the reason why they enter this hobby if its hard  ? maybe they want more challenge   .

[davinchi]

When we are talking about the "little guy" we are not talking about the person who mines with his computer anymore at all, not even the person who has insane amount of rigs because rigs do not mine bitcoin anymore, it is only Asics. There are tens of Asic machines who are old and wouldn't mine neither. So, when we are talking about the little guy we are not talking about the machine, we are talking about the amount.

A small miner is someone who uses 100 of the same machines whereas the whale miner is the same machine but with thousands of them, they are both using the same thing but one owns very little amount of that machine whereas the other has unlimited amount, even makes it themselves. Otherwise machinery is no longer a question, if you have an old one you are not going to profit at all.

[jostorres]

Poolin.com is one of the mining pools out there, its Vice President talked about it and gave his opinion, " Miners using old equipment will have to disconnect after halving"

The time has come for small miners isn't it?

Yep that’s the truth. It’s going to be like that after the halving, unless the price increases. If the price doesn’t increase a lot of miners are going to quit because they will be unable to take the expenses that will be coming from mining. I don’t really know how it’s going to be, but one thing for sure is that the price of Bitcoin will decline and it’s going to affect the altcoins too.

We don't know what might happen but if the price did, I guess that would be for the better not just for the investors but also for the miners especially to small miners.

I know for sure that there will be miners who will drop out from mining Bitcoin, because judging from the past experience the price didn’t start going up immediately. It might be the same thing that will happen this time around, the price might take time before it goes up after the halving.

[deisik]

So to sustain the current mining profitability, the price has to double as the reward will be halved. But if large number of miners go out of the business - no one will escape the suffering! Expect increase in fees and longer waiting time as an immediate result of upcoming halving

Higher fees means more revenue for miners. I didn't see the latest stats, but a couple years ago transaction fees had already been contributing greatly to the revenue flow received by miners. So, if, for example, the fees collected by miners account for half of their profits now, to entirely offset the negative impact of the coming halving, the fees will have to rise twice on average. But if they are already making up the best part of the miners' profits (say, 70-80 percent or even more), the halving won't cause a dramatic plunge in the current mining profitability

Does anyone have the up-to-date stats?

[matchi2011]

They still can make a profit from mining other coins with similar halving with Bitcoin, or they can sell their mining rigs at even half of their price since they already mined a lot of coins in the past, this is the reality they have to accept and I'm pretty sure they know all of this before it comes.

this isnt new but this were already discused many times before and as a miner they already do thier research before they start that hobby/job  so no worries  .  the one that i saw before is that miners are going to sold thier old miner and then obtain a new one to start mining again  while i dont think they mine other coins if they already mine btc because they can earn more on btc  plus whats the reason why they enter this hobby if its hard  ? maybe they want more challenge   .

For sure those who are still continuing this business has done doing their research, as knowing the risk since halving take place and the amount of received
shares will be more lessen.  This miners understand everything and if they choose to continue then everything  has been reviewed.
Miners are believers that time will come that the market will bounce and bring decent as long as value will rise high.

[deisik]

look at what's happening with price vs hash rate lately. the price has gone through the roof---up to $9k from the $6000s last month---yet the hash rate is actually dropping now. can you believe that? a couple days ago, difficulty was set to increase ~2%. now it's set to drop ~1% and it looks like it will continue dropping further. miners seem to be shutting down in anticipation of the halving, no matter how bullish the market looks now

To me, it looks more like a deliberate, contemplated and orchestrated attempt to bolster fees

We have already seen so many congestions in the past (starting 2015) that by now we should be used to taking this dynamic with a pinch of salt. So yes, we can believe that, that the hash rate is dropping now, but it doesn't in the least mean what you are trying to get across, i.e. that miners are leaving because they don't think this market is any longer profitable. Let's wait a few weeks and see if the hash rates don't hit new highs in the aftermath of halving

[Saisher]

Less than two weeks (~12 days) from the halving and the price is rising near $9k which is good imo, the essential part is to maintain this progress until the halving. Such thing could keep as much miners as possible...

Yeah I guess they still have 12 days to go and after that they will have to decide if they want to stop or continue mining, but after the halving the scenario is not favorable to them anymore, they will have to eventually stop mining or look for a new coins to mine with the same algo as Bitcoin.

[MCobian]

I'm sure small miners have calculated bitcoin halving that will happen in a few days, the possibility of miners using old equipment is not
continue bitcoin mining. In my estimation, small miners will switch to altcoins, because the rewards for mining will decrease half of it.
Very heavy for small miners to continue, not to mention calculations for electricity costs. In the end bitcoin mining will be dominated by
big miners.