Bitcoin death...

[GRIM]

Bitcoin is close to becoming worthless - MarketWatch

 

[Mick]

It's all going down ! All I have left is some Tron and Ripple...

 

[GRIM]

It's all going down ! All I have left is some Tron and Ripple...

not even that it going down if it becomes unprofitable to miners the currency simply ceases to exist.

 

[jolter604]

New that stuff was gonna fall

Ordersupport@pct-shop.com

pct-shop.com

 

[kragon]

I saw this coming lol

 

[GRIM]

I saw this coming lol

it hasnt happened yet, so far its axing off smaller miners and difficulty mining has actually increased.
it could actually be a good thing, all depends the slightest wrong move could fully kill it
this article isnt talking about just crashing but outright death from the miners not existing
lower difficulty brings increased profits

 

[TSizemore]

Right now, there are huge banking systems accepting it, there are talks of Bitcoin ETF approval, there are overseas and domestic municipalities accepting it... Bitcoin isn't going anywhere, just culling out the weak and frail. The value will never reach what it was, but it won't ever be completely worthless.

 

[GRIM]

Right now, there are huge banking systems accepting it, there are talks of Bitcoin ETF approval, there are overseas and domestic municipalities accepting it... Bitcoin isn't going anywhere, just culling out the weak and frail. The value will never reach what it was, but it won't ever be completely worthless.

if the miners stop being profitable it ceases to exist.
no miners = no bitcoin system, no transactions or processing. Same as having a pc with no electricity.
The ledger would still be there no new transactions however

 

[TSizemore]

There will always be miners. The system is going through a "natural selection" process right now. Those miners with time and a revenue stream to sustain them will last. A bunch will fall by the wayside, and when they do, they'll be less miners to compete which means more profit for those that can outlast the downturn

 

[GRIM]

There will always be miners. The system is going through a "natural selection" process right now. Those miners with time and a revenue stream to sustain them will last. A bunch will fall by the wayside, and when they do, they'll be less miners to compete which means more profit for those that can outlast the downturn

not if it costs more to mine bro there wont and forget how long it is however the reward gets cut in half again in the future..

 

[GRIM]

2220 reward drops in half again, eventually it decreases to nothing more than the transaction fees.
unless equipment is made much much more efficient or transaction fees skyrocket if prices continue to stagnant or fall miners wont be around...why would someone mine at a huge loss?
Even if a few small or big ones stay and the rest leave you run the risk of defeating the entire point of bitcoins ledger system and 1 side can start reversing transactions, falsifying the ledger and more..

As it is even the most efficient miners with low electricity costs are barely turning a profit

This is a real threat

Bitcoin Block Reward Halving Countdown

 

[kragon]

The math behind bitcoins just doesnt add up. The usd is backed up badically by the US nukes.. i mean yeah the stock market, fed etc but literally its backed by a country and their power,and their economical influence. We are seeing a huge influx of cryptocurrencies being created. When you flood the market like that with that many currencies it starts devaluing cryptos in general because one does not translate to others. Now, that isnt to say that there is no room for something like crypto. It may be a form of cash for the future but one thay may only be mined by a place like a government with enough supercomouting power to be able to generate the currency and have its backing. It would be an alternative to cash. But right now its the wild wild west of crypto era where even the valuation is suspect. I believe in order for crypto to survive it has to evolve somehow.

-k

 

[GRIM]

The math behind bitcoins just doesnt add up. The usd is backed up badically by the US nukes.. i mean yeah the stock market, fed etc but literally its backed by a country and their power,and their economical influence. We are seeing a huge influx of cryptocurrencies being created. When you flood the market like that with that many currencies it starts devaluing cryptos in general because one does not translate to others. Now, that isnt to say that there is no room for something like crypto. It may be a form of cash for the future but one thay may only be mined by a place like a government with enough supercomouting power to be able to generate the currency and have its backing. It would be an alternative to cash. But right now its the wild wild west of crypto era where even the valuation is suspect. I believe in order for crypto to survive it has to evolve somehow.

-k

evolve yes..
government getting involved has far more hurt crypto with their tracking systems etc than unknown junk coins