Bitcoin Forum
May 25, 2024, 07:27:43 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: ㅤ  (Read 363 times)
stompix
Legendary
*
Offline Offline

Activity: 2898
Merit: 6360


Blackjack.fun


View Profile
September 23, 2020, 11:33:01 AM
 #21

One thing I cannot explain at the moment is that Bitcoin is having a lot of good news like some companies are buying into Bitcoin and the number of bitcoin miners increases after the halving but the price of bitcoin falls.

Hashrate increase doesn't always mean more miners, doesn't even always mean more mining gear.
The oldest gear that is still somewhat capable of mining a profit is an s9, with 14TH for 1400W, now a miner could replace 3 of those for an s19pro which instead of  42TH for 4200W would do 110 TH for 3250W.
New gear is close to 3 times more efficient, so just upgrading gear we could see a huge hash rate increase.

The ATH hash rate of mining has increased but the ATH price of bitcoin has yet to be surpassed.

The hashrate follows the price, what you see right now is gear that was ordered months ago coming online. Hash rate has zero effect on the price.



.
.BLACKJACK ♠ FUN.
█████████
██████████████
████████████
█████████████████
████████████████▄▄
░█████████████▀░▀▀
██████████████████
░██████████████
████████████████
░██████████████
████████████
███████████████░██
██████████
CRYPTO CASINO &
SPORTS BETTING
▄▄███████▄▄
▄███████████████▄
███████████████████
█████████████████████
███████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
███████████████████████
█████████████████████
███████████████████
▀███████████████▀
█████████
.
todiefor17
Member
**
Offline Offline

Activity: 344
Merit: 11


View Profile
September 23, 2020, 01:02:45 PM
 #22

One thing I cannot explain at the moment is that Bitcoin is having a lot of good news like some companies are buying into Bitcoin and the number of bitcoin miners increases after the halving but the price of bitcoin falls. It was worse than in 2019 as growth slowed down.
Now everyone should understand that adopting bitcoin by a company/companies does not mean nothing to the price, it will still vary to the demand from the existing market. Besides, you got to inject a lot of money to move the bitcoin price. It is noticeable how the price of bitcoin is in low range, probably many of investors are enjoying on what is happening with the altcoin scene right now.

The ATH hash rate of mining has increased but the ATH price of bitcoin has yet to be surpassed.
Hash rate has  nothing to do with price as long as the miners don't sell. There will only be another ATH when we overcome what's the highest demand for bitcoin last 2017.
Ever since bitcoin derivatives like CME came out, futures and others have made it possible for people to have less demand for bitcoin. Bitcoin has been unable to move to higher levels because people don't buy Bitcoin anymore, they have other options to make money.
ATH in 2017 is hampering bitcoin's growth, everyone already knows Bitcoin and bought it for the past 3 years for the best price. When Bitcoin rises in price, they sell for a profit, more people want an immediate profit rather than holding to win.

todiefor17
Member
**
Offline Offline

Activity: 344
Merit: 11


View Profile
September 23, 2020, 01:08:04 PM
 #23

One thing I cannot explain at the moment is that Bitcoin is having a lot of good news like some companies are buying into Bitcoin and the number of bitcoin miners increases after the halving but the price of bitcoin falls.

Hashrate increase doesn't always mean more miners, doesn't even always mean more mining gear.
The oldest gear that is still somewhat capable of mining a profit is an s9, with 14TH for 1400W, now a miner could replace 3 of those for an s19pro which instead of  42TH for 4200W would do 110 TH for 3250W.
New gear is close to 3 times more efficient, so just upgrading gear we could see a huge hash rate increase.

The ATH hash rate of mining has increased but the ATH price of bitcoin has yet to be surpassed.

The hashrate follows the price, what you see right now is gear that was ordered months ago coming online. Hash rate has zero effect on the price.



I understood the problem, the evolution of the devices that increase the hash rate does not mean more Bitcoin mining so the price of bitcoin does not depend on the miners.

wiss19
Sr. Member
****
Offline Offline

Activity: 2128
Merit: 341



View Profile
September 24, 2020, 08:20:01 PM
 #24

They won’t be investing in new machinery? But lots of miners are getting outdated. So that means that they will be buying lots of miners to replace the ones that have been outdated. I have seen news that lots of miners even had to drop because their miners are outdated and can’t continue with the mining.

The more the hash rate of Bitcoin increases, the more it’s difficult to be mining Bitcoin. They will have to be adjusting that. And as for those asking whether mining is still profitable, being profitable depends on some factors, and those are things you will have to figure out for yourself..

███████████████████████
████████████████████
██████████████████
████████████████████
███▀▀▀█████████████████
███▄▄▄█████████████████
██████████████████████
██████████████████████
███████████████████████
█████████████████████
███████████████████
███████████████
████████████████████████
███████████████████████████
███████████████████████████
███████████████████████████
█████████▀▀██▀██▀▀█████████
█████████████▄█████████████
███████████████████████
████████████████████████
████████████▄█▄█████████
████████▀▀███████████
██████████████████
▀███████████████████▀
▀███████████████▀
█████████████████████████
O F F I C I A L   P A R T N E R S
▬▬▬▬▬▬▬▬▬▬
ASTON VILLA FC
BURNLEY FC
BK8?█▀▀▀











█▄▄▄
.
PLAY NOW
▀▀▀█











▄▄▄█
ichi
Member
**
Offline Offline

Activity: 182
Merit: 10


View Profile
November 22, 2020, 12:47:01 PM
 #25

Maybe excavators continue managing their responsibility since they trust it's a wise interest in what's to come. To be specific, while the benefits are not incredible at the present time, they anticipate that the cost should ascend later on, and afterward those bitcoins they are mining currently will cost far additional later on. Or then again perhaps it's an extremely brief thing that would be trailed by certain diggers leaving and the rate will go down. In any case, I actually don't comprehend why individuals purchase costly hardware and put time and cash into the movement that will require a significant stretch of time to try and repay the expense of the apparatus and its support, while one can simply purchase BTC legitimately and sit tight for it to rise.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!