Quote from: kotbi on August 08, 2017, 10:10:19 AM

Quote from: mocacinno on August 08, 2017, 10:04:54 AM

Quote from: kotbi on August 08, 2017, 09:58:42 AM

Quote from: Last of the V8s on August 08, 2017, 09:33:00 AM

Quote from: kotbi on August 08, 2017, 09:12:03 AM

The hashrate is increase exponentially and certainly unsustainable. What will happen if one day, the hashrate is so high, no miners would profit from mining it?

difficulty adjustments

Do you think the bitcoin hashrate will decrease at some point? Historically, it's been increasing all the time? When do you think it will happen?

That's not completely true... The hashrate has had drops in the past... In this case the diff was adjusted downwards.

To answer your question: for most miners, if they cannot make a profit, they'll shut down their gear... Hashrate drops, diff drops at the next adjustment, the leftover miners can mine at a lower diff (making more profit)...

I kind of see a miner monopoly coming in the future. Any miners with high electricity bill will be out of market and small business miners will be out of market due to higher cost and may lead to one or several miners monopoly in the future.

thats already basically the scenario. mining bitcoin by yourself is pretty damn unprofitable. pools run the show, and that goes towards most gpu mining as well.