Would it still be profitable if bitcoin goes down to $1 a bitcoin?

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Would it still be profitable if bitcoin goes down to $1 a bitcoin?

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I think suddenly mining bitcoin will be profitable again because all the deep pocket players would belly up and declared bankruptcy.

[saurabh]

I don't think it will be profitable at all if it goes down to $1...

[IamCANADIAN013]

How could mining possibly be profitable if bitcoin was $1? I don't understand how it's even profitable at today's price. Much cheaper just to buy and sell coins at this point. 

[alh]

At $1/Bitcoin, mining would nearly cease. You can't pay the electric bill
when Bitcoin is a miniscule value. The ASIC vendors would see their orders
dry up very rapidly. The whole landscape would change dramatically.

[TinyBBC]

Only God knows, but this is basically not happen, so do not worry too much about this issue

[TinyBBC]

Only God knows, but this is basically not happen, so do not worry too much about this issue。

[freedomno1]

Well if the difficulty goes down relative to the price or electricity is free 

[bbxx]

we would wait few months for the next block then

[ChuckBuck]

Hells no! 

Difficulty still in the billions, and electricity costs sky high for expensive miners.

$1 value of Bitcoin would not pay the bills or mining costs.

[BSIG]

Only way to find out who truly believe in crypto against the ones in it for the money.

[sgk]

If BTC goes down to $1, mining hardware would be dirt-cheap. You would probably find a block with a USB erupter.

[Bitcoin++]

Even if BTC drops to $200 many miners would go bust. It will also happen if BTC remain <$500 and difficulty continues to increase.
Only those with cheap electricity and efficient hardware will survive.

Your Antminer S1 will be good for heating and for decoration but not much more.

[harkonnen]

I think suddenly mining bitcoin will be profitable again because all the deep pocket players would belly up and declared bankruptcy.

"deep pocket players" might declare bankruptcy, but they will last longer than you. If bitcoin goes down to $1, ants like you and me will lose, and deep pockets will win.

[Nagle]

"Deep pocket players" might declare bankruptcy, but they will last longer than you.

Not necessarily. They may be leveraged, operating on borrowed money.

[Soros Shorts]

I think suddenly mining bitcoin will be profitable again because all the deep pocket players would belly up and declared bankruptcy.

"deep pocket players" might declare bankruptcy, but they will last longer than you. If bitcoin goes down to $1, ants like you and me will lose, and deep pockets will win.

"Deep pocket" is relative to the size of the mining operation. My discretionary income can support the operating costs of my small my mining operation indefinitely. I will continue to throw money down the toilet if I felt that it would be beneficial to do for the long term.

[fattypig]

Would it still be profitable if bitcoin goes down to $1 a bitcoin?

Yes cause everybody in the world would shut down their mining rig. After the difficulty adjusted the difficulty would be 0. So instants mine.

[nuff]

Would it still be profitable if bitcoin goes down to $1 a bitcoin?

Yes cause everybody in the world would shut down their mining rig. After the difficulty adjusted the difficulty would be 0. So instants mine.

This is what makes Bitcoin so insanely revolutionary. It is self-regulating backed by maths, the language of the universe.

[Born2Bwild]

Would it still be profitable if bitcoin goes down to $1 a bitcoin?

Definitely no. As there would be no point in mining. You would pay more for electricity to keep your computers working. There's no profit in such approach. Then, what would be the difference between USD and BTC?

[kthejung]

If bitcoins were $1:  I could either pay the electric company $10 a day to run my miners to generate 0.09 btc per day or just buy 10 btc for $10. 

I could have 10 bitcoins by buying or 0.09 bitcoins by mining.  Of course, the obvious choice is buying.