Bitcoin - BTC

142. Why Bitcoin Miners Get Rekt

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Why are so many bitcoin miners going bankrupt? We discuss the economics of bitcoin mining, how the difficulty adjustment works, why it makes bitcoin mining a zero sum game, and why it ensures bitcoin is optimized for the saver, not for the miner. Plus, what are the things you need to keep in mind if you are considering getting into mining?

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47 Comments

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  5. If many of the big miners shut down does that mean it will bring the hash rate down and security with it?

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  7. So basically mining will get more and more CENTRALIZED and that goes against the main idea of bitcoin decentralization!!

  8. Sorry for the nooby question but if almost nobody should mine, as it is always better to just stack sats, how are we sure that there will be people to mine bitcoin in the long term ?

  9. Thank you for the software I didn’t believe after all these scammers on YouTube. I have finally found a real and working BTC withdraw that actually withdraws mining fees through god and I have paid all my bills with the 0.3btc on my wallet lol 😂 now I believe everyone are not the same I’ll never stop working with above 👆 website because of the legit work . I’m so happy for seeing someone commenting the good news about them

  10. Thank you for the software I didn’t believe after all these scammers on YouTube. I have finally found a real and working BTC withdraw that actually withdraws mining fees through god and I have paid all my bills with the 0.3btc on my wallet lol 😂 now I believe everyone are not the same I’ll never stop working with above 👆 website because of the legit work . I’m so happy for seeing someone commenting the good news about them

  11. It's more profitable to mine in Utopia with a regular PC than to bother with a farm like this

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  24. From what I am gathering, it isn't really instilling a lot of confidence in bitcoins future in terms of sustainability. In the next half rewards will half, if bitcoin price doesn't increase, mining might stop. If miners stop mining, bitcoin doesn't function. The whole thing seems to be becoming fragile

  25. It seems like Mining was conceptualized as the big draw in for big money/resources to get into Bitcoin. Hate I didn't put more effort into understanding and trying to mine on the computers I did have available back in 2009-2013

  26. I love the grounded reality of this channel… TA is all well and good but I find it truly baffling that all major crypto youtubers just look at pure TA and completely ignore the bigger narrative of why BTC is pumping and why the future outlook might not be as rosy as it seems. It's kinda irresponsible to ignore the fact that each ETF launch so far has caused a major dump at the peaks of BTC. We were already on shaky footing with historically low volume and almost pure whale pumps, narrowly avoiding a long-term bear market.This is the worst possible time in history to invest as so many don't back up their crypto assets.More emphasis should be put into day tradiing as it is less affected by the unpredictable nature of the market.I have made over 1.8btc from day tradng with Peter Donovan insights and signals in less than 2 weeks, this is one of the best medium to backup your assets incase it goes bearish.<The fact is, BTC is the future of crypto and the questions traders ask themselves now if this is right time to invest? before jumping into conclusion i think you should take a look at things first.. while others still continue to trade without the fear of making lose, others are being patient. it all depends on the pattern with which you trade and also the source of your signal's. You can reach Peter Donovan on ͲeIєɠɾαm
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  27. Can we say that «gold» was distributed randomly on earth, and that «bitcoins» are also «metaphorically» distributed randomly on earth, around the spot of cheap electricity. Those spots are the places where the bitcoins are «located» in the real world 🙂

  28. I keep wondering whether an old ASIC could survive as a household item in a densely populated areas if, like I suspect, it isn't an energy efficient heater, in addition to being an inefficient miner. I guess it comes down to either having relatively cheap electricity prices whether from the grid or self-produced, or there being a shortage of efficient electric heaters.

  29. Totally agree with your analysis here on this podcast. With the markets having more put order executions; situations like this are best hedged with sustainable positions especially bitcoin, as price strongly deviated against its long term mean average. The further it deviates the more momentum for a reversal to the upside. whales are currently in a liquidity grab at the lows. I've had series of trading losses I'd best not mention before being introduced to Mrs. Feven Lena her careful guide and employing her Signal for my trade orders has been a great experience as my portfolio took a positive turn to 9 BTC from 2 BTC . Feven Lena's signal algorithm are based on combinations of unique strategies. She runs a program for investors/newbies who lack understanding on how trading Bitcoin work's..😍✌❤

  30. People with free energy will mine bitcoin. Stranded energy, surplus energy, criminals…

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  34. Your completely wrong on miners not getting centralized. The cheapest energy period is going to be king.
    Country’s like Russia with endless natural gas could absolutely crush the market on electricity cost.

  35. Been mining for years. Sometimes at a small loss. I buy equipment at bottom of bear markets. This is the first time machine prices haven’t totally collapsed. Still getting 2gs for S19j pro and thats old tech. New stuff (S19XP) is still $5500 and that’s way high yet. Don’t think enough big farms have failed yet because their equipment isn’t on market.

  36. I feel like the analysis here is contradictory. Somehow he when from you cant profitably mine BTC unless you have cheap energy to that equal more decentralization. Aint it the opposite? The ppl that monopolize energy are the only ones that can get cheap energy and this will create more centralization not less. At some point only energy rich countries will be able to mine BTC because they are the only ones that can get cheap energy.

  37. Nobody mentions that a large percentage of the hash rate comes from devices infected with malware.

  38. Where in the world can you get electricity at $0.03 per Kw/h reliably? I did a quick search and it seems to me that the countries offering the cheapest electricity have the most blackouts or it's just not a country to do business in.

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