What happens if bitcoin falls below its mining cost

ranga

Senior Member

Aug 9, 2009

800

628

• Jun 14, 2022

• #1

Bitcoin is falling like nine pins, what happens if it falls below its mining cost? Will it become a dud currency with transactions becoming more and more difficult?

 

Hawkeye Digital

Rules Violation

Feb 23, 2022

6,316

1,699

• Jun 14, 2022

• #2

It would never fall , if it fall then that the point to worry , but if it falls , so the whales might push it up !

 

ResiProxies

Regular Member

Jr. VIP

Jun 12, 2022

463

37

• Jun 14, 2022

• #3

Right now for some of my friends the cost to sustain the miners does not make it profitable anymore.

 

alurosu

Elite Member

Jun 16, 2020

2,188

1,658

• Jun 14, 2022

• #4

If mining is not profitable, some mining facilities will close. This means that the competition is lower, total hash power is lower and you can mine with cheaper rigs.

 

ResiProxies

Regular Member

Jr. VIP

Jun 12, 2022

463

37

• Jun 14, 2022

• #5

alurosu said:

If mining is not profitable, some mining facilities will close. This means that the competition is lower, total hash power is lower and you can mine with cheaper rigs.

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That is correct, the rest time will tell.

 

S

seomaster5

Elite Member

Oct 31, 2021

5,161

1,482

• Jun 15, 2022

• #6

It is obvious that when happens, more people will start buying which will then make price again normal.