BTC mining is on the rise despite relative low prices. Explain this to me like I'm retarded...

BTC mining is on the rise despite relative low prices. Explain this to me like I'm retarded, is it cheaper or easier to mine BTC when prices are low?

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How much does it cost to mine a btc from scratch in the US? PC price and everything.

I don't mine BTC but I mine Ergo. When prices are shit the difficulty goes down and I earn more reward. I'm not a poorfag and don't care about electricity.

I don't know. I'm literally retarded, someone please halp

mining cost depends on your local cost of electricity and however much you spend on ASICs, as well as hashrate... the
higher the hashrate, the more competitive the block reward becomes, the less likely it is that you will win. by the way there is no fractional reward, if you're a solo miner it's all or nothing. which is why most people pool and receive a fraction of the pool rewards proportionate to their mining power

Checked. I just googled and it says that it costs around 35k to mine a btc in the United States right now. I don’t know if that’s accurate because Google is run by retards.

>price go down
>miners dump equipment/shut down
>difficulty lowers

If you just go and buy 10 BTC you spent like 390k or whatever it is and you got 10 BTC.
If you have free or close to free electricity and don't need the 10 BTC immediately, you can buy the latest and greatest asics for your 390k.
Those most efficient latest and greatest asics have advantage over old ones.
So in the long run you can mine the 10 BTC and at one point in time down the line you have 10 BTC and asics that are still working for you.

Thats the principle.

so that means it does become easier as the price lowers?

So it's like having your cake and eating it too? I just saw that Georgia is trying to eliminate electricity tax for bitcoin mining, is that really even a lot of money? Like how much electricity tax does mining 1 btc cost?

thecryptodrudge.com/georgia-u-s-is-about-to-bolster-mining/

you will have a useless asic eventually. alternatively mine some shitcoin and get paid in btc using consumer gpus and you can sell the used cards to gamers hopefully. disadvantages of asic mining heavily outweigh the gains imo.

it's not connected (directly) to the price. the metrics you are looking for are difficulty and hashrate.

This:

As a miner you can sell bitcoins you don't own, as long as you can mine them.
If you can't you fold and its someone elses problem.

>40k
>low prices

Bump

mining without trading is like comparing gardening to farming. margins are going to be fucked if you don't.

80% of miners are about to go negative for 3-4 years, only a few will survive the onslaught

That can’t be true, what about all the profit they made last year?

they (re) overinvested in mining equipment

my balls are mining sperm rn

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