I am wondering, once genuinely another crypto wins over the market acceptance when it comes to payments, what are the realistic chances of Bitcoin staying above $15,000, maintaining Bitcoin's mining profitability?
Bitcoin difficulty has grown 5 times since January.
In January price was around 1000$.
Simple math and you will understand that miners ill still make the same profit they were making in January even if Bitcoin drops to 6000$.
But since the price is 2.5 that it means it is a lot more profitable.
Remember that is not just 2.5 in profit, it's 2.5 in REVENUE with same costs.
So if in January you were making 100$ and spent 90$ on power , now you make 250$ and spend the same in power.
10>160.
But why do I bother explaining this to somebody claiming bitcoin is dead again?
At least I have the hope of somebody reading this and not starting another thread.
Can't understand why do you need to use any math to explain this situation? Price has gone 18x more and it make possible to have 18x more profit. Can you find any antminer on bitmain's shop? No because people has bought them. What was their price in past? more than 1000$ if I remember correctly and how much is it now? 10 000k. If you buy it now, then your profit won't be different from profit when price was 1000$ (because you invested much now). Otherwise old miners make excelent profit.