Post
Topic
Board Press
Re: [2017-11-12] Analyst: “In 4 years BTC mining won’t be profitable anymore”
by
Qartersa
on 13/11/2017, 06:41:27 UTC
According to Christopher Chapman, an analyst at Citigroup Inc, that might not be a bubble problem or fork which would eventually kill bitcoin, but the staggering energy costs associated with mining of the digital gold.

As Citigroup report states, the price of bitcoin required for mining to stay profitable in 2022 stands at $300 000 — according to the calculations, current growth trends, and electricity use. The amount of power consumed in the process of emission by that time would be enough for the whole Japan...https://en.bitnovosti.com/2017/11/10/analyst-in-4-years-btc-mining-wont-be-profitable-anymore/

This is alarming in the sense that when there will no longer be Bitcoin miners, Bitcoin will no longer experience growth as many are expecting. There will be poor circulation of Bitcoins thus there will be less people who will demand of it because they already know for a fact that there will no longer be any production. I think we have to do something to make the process less costly for miners. Otherwise, we will all suffer from this internal problem.