Hey guys I have a question that just popped up in my mind. What if the price of Bitcoin doesn't increase much after the halving and with the cut in half block rewards and increasing difficulty, do you think the Chinese miners will go bankrupt or they will manage to break even and get a slight profit? Can the Chinese government offer the mining farms preferential electricity pricing lower than the average for the country?
The first to go bankrupt are the marginal miners, not the ones with the lowest electricity costs and the highest efficiencies due to very large economies-of-scale in mining farms.
The halving will INCREASE the centralization of Bitcoin's hashrate (to China's mining farms), not decrease it.
Satoshi designed the distribution curve this way. Who is your hero, who is your daddy who sold you to the banksters?
Dude c`mon, you cant just talk about bitcoin like that. Even if what you say is true, the benefits massively outweigh the drawdowns.
Oh the benefits of
being raped by the banksters.