Although most of the #cryptocurrency world is celebrating Bitcoin’s halving, there is one group …
Although most of the #cryptocurrency world is celebrating Bitcoin’s halving, there is one group that isn’t and that’s the miners. With the block reward halved now, miners are earning less $BTC. How do you think this will impact the mining world and #Bitcoin overall?
Miners also get the fees associated with the block they found. At this time, that’s an average of 2k transactions/block with about $3 per transaction. Or almost 0.6btc. Transaction fees were designed to be the reward incentive at later mining stages.
Well computer power doubles every 18 months and that means that mining will become easier and more efficient. With that being said BTC will moon
They were prepared for it ahead of time. It all depends on the price of Bitcoin in the following months, and also the negative interest rates, since smart people will use negative interest rates to buy mining equipment before the price really pumps, IMO.
They are multi-pool mining Bitcoin, Bitcoin-SV, Bitcoin Cash, Which ever is more profitable.
Simple block reward say…. $100 pre reward at 9k. Now $50 at 9k. 2month $100 at 18k 10months ????
If they can stick it out, they’ll be fine. It’s just a matter of time before the scarcity of new BTC creation drives the price up and makes most miners profitable again. Mining one post-halving $16,000 Bitcoin pays the same a mining two pre-halving $8,000 Bitcoins. If they’re living paycheck it to paycheck, though, and the halving immediately puts them in the red, they won’t survive long enough to see the bull rally that the halving creates, unless they simply unplug the mining rigs…and wait.
I love how this page post the most ridiculous things but when I post something that is an analytical conversation it isnt allowed to be posted.
I’m still mining the same amount rn. A lot of people must have just switched off.
They need to our grade to the new mining hardware and China is not shipping them out due to covid19
We will see 15k – 20k BTC easily around YE 2020 (And I am NOT BTC maximalist)
Less miners, higher and higher demand = higher asset price.. gold is being mined more than BTC. If you think thats a bad thing than you dont understand how the economy works. 🤭 people didn’t really understand how credit cards worked either, now we all have one.