Did I get this calculation right? Or there is more

[YellowSwap]

Honestly speaking if someone doesn't have the knowledge about Bitcoin mining and reward it's easier to get confused and avoid Bitcoin mining in general.

"I thought the next bitcoin halving will cut down the amount of Bitcoin that miners can mine? That's not far away anymore, you won't be able to make 3 BTC per block, so why are you still mining Bitcoin still? You are even trying to solve a block on your own".

This is what nephew told me and It reminds me of the time when Bitcoin was 6BTC per block, I don't let it get the best of me because all I can think about was

When Bitcoin was 6 BTC per block the price wasn't this big.
Now it's 3+BTC per block.
When the next halving happens the block reward will be 1.5+BTC

What if the price of BTC is now 400k at the time?
I said to myself, even that 1.5BTC per block will worth fighting for.

It's all about the value or am I wrong?

I will keep mining still and accumulating Bitcoin before that time anyways.

[Cookdata]

What if the price of BTC is now 400k at the time?
I said to myself, even that 1.5BTC per block will worth fighting for.

It's all about the value or am I wrong?

I will keep mining still and accumulating Bitcoin before that time anyways.

The miners don't see Bitcoin the way you view it, Bitcoin price has went to $18k and crashed to $3.5k and most of the miners never left even when they were mining at loss, it's more like unrealized capital loss on their investment. There are some some old miners that are still holding their block rewards of 6 years ago and haven't sell. If they didn't sell any of those Bitcoin when the price went all time high, nothing will compel them to sell or stop mining if Bitcoin price isn't sustainable.

Beside, big mining companies don't jump to start mining and expect to use mining reward for production cost, they raised a significant amount of money before they start the business, they know this kind of things is possible, so they get prepared with enough funds to sustain the business until the price recover when they can sell to cover up the future running cost.

[FP91G]

Honestly speaking if someone doesn't have the knowledge about Bitcoin mining and reward it's easier to get confused and avoid Bitcoin mining in general.

"I thought the next bitcoin halving will cut down the amount of Bitcoin that miners can mine? That's not far away anymore, you won't be able to make 3 BTC per block, so why are you still mining Bitcoin still? You are even trying to solve a block on your own".

This is what nephew told me and It reminds me of the time when Bitcoin was 6BTC per block, I don't let it get the best of me because all I can think about was

When Bitcoin was 6 BTC per block the price wasn't this big.
Now it's 3+BTC per block.
When the next halving happens the block reward will be 1.5+BTC

What if the price of BTC is now 400k at the time?
I said to myself, even that 1.5BTC per block will worth fighting for.

It's all about the value or am I wrong?

I will keep mining still and accumulating Bitcoin before that time anyways.

Miners don't get free Bitcoin, and this is a major problem. Each miner has their own cost of mining Bitcoin, and sometimes it's cheaper to buy Bitcoin.
If you believe the price will reach 400,000 or more, now is the time to buy Bitcoin. According to official statistics, many mining companies have mining costs above 70,000. If you're confident you can make a profit, then go for it.

[BitMaxz]

I don't think it's just all about the value; if you are living in the country with a very cheap electricity rate or free, even with the price drop, you are still making some profit while you cover the electricity cost.

It's a bad idea to go into this business and build a small mining farm without first calculating everything because you might end up selling your units and coins at a loss.
You should calculate your units' hash rate and electricity cost if you can sustain it until the block halving because if you are mining for many years, the maintenance cost plus electricity could wreck your pocket.

Do you think miners will mine simply because they see so many people mining BTC?
You need to consider calculating everything except for those people who mine solo because they don't care about the electricity cost, and the units they use are small units like BitAxe, which is not power-hungry unlike new Bitmain units nowadays.

If I were you if your nephew is planning to enter into this business, I suggest helping him first to calculate everything using this tool below. If you are living with very cheap electricity costs or have a free power source, then the profitability is high even if BTC is bearish.

- https://whattomine.com/asics
- https://www.mycryptobuddy.com/bitcoinminingcalculator

[YellowSwap]

What if the price of BTC is now 400k at the time?
I said to myself, even that 1.5BTC per block will worth fighting for.

It's all about the value or am I wrong?

I will keep mining still and accumulating Bitcoin before that time anyways.

The miners don't see Bitcoin the way you view it, Bitcoin price has went to $18k and crashed to $3.5k and most of the miners never left even when they were mining at loss, it's more like unrealized capital loss on their investment. There are some some old miners that are still holding their block rewards of 6 years ago and haven't sell. If they didn't sell any of those Bitcoin when the price went all time high, nothing will compel them to sell or stop mining if Bitcoin price isn't sustainable.

Beside, big mining companies don't jump to start mining and expect to use mining reward for production cost, they raised a significant amount of money before they start the business, they know this kind of things is possible, so they get prepared with enough funds to sustain the business until the price recover when they can sell to cover up the future running cost.

Somehow this still backs my point up


"There are some some old miners that are still holding their block rewards of 6 years ago and haven't sell".

All miners are not the same, some have to sell their Bitcoin everyday or week even after they settle their electricity bills, they are not in for long term holding.

There are miners who believe that their present Bitcoin value can be 15k but the future value will be 150k so they hold it like their lives depends on it.

Bitcoin price crashing should be expected as a Bitcoin miner.
Thanks for your point, I get it still.

[FP91G]

What if the price of BTC is now 400k at the time?
I said to myself, even that 1.5BTC per block will worth fighting for.

It's all about the value or am I wrong?

I will keep mining still and accumulating Bitcoin before that time anyways.

The miners don't see Bitcoin the way you view it, Bitcoin price has went to $18k and crashed to $3.5k and most of the miners never left even when they were mining at loss, it's more like unrealized capital loss on their investment. There are some some old miners that are still holding their block rewards of 6 years ago and haven't sell. If they didn't sell any of those Bitcoin when the price went all time high, nothing will compel them to sell or stop mining if Bitcoin price isn't sustainable.

Beside, big mining companies don't jump to start mining and expect to use mining reward for production cost, they raised a significant amount of money before they start the business, they know this kind of things is possible, so they get prepared with enough funds to sustain the business until the price recover when they can sell to cover up the future running cost.

Somehow this still backs my point up


"There are some some old miners that are still holding their block rewards of 6 years ago and haven't sell".

All miners are not the same, some have to sell their Bitcoin everyday or week even after they settle their electricity bills, they are not in for long term holding.

There are miners who believe that their present Bitcoin value can be 15k but the future value will be 150k so they hold it like their lives depends on it.

Bitcoin price crashing should be expected as a Bitcoin miner.
Thanks for your point, I get it still.

Six years ago, mining wasn't that expensive, and some miners didn't sell their Bitcoins after their equipment had paid for itself.
These miners won't lose much money, even if the Bitcoin price drops.
But with each halving, the cost of Bitcoin mining will only increase, and the hashrate is constantly growing.