Quote from: TraderTimm on January 31, 2018, 02:30:30 PM

Quote from: Sandal_Hat on January 31, 2018, 01:50:24 PM

Dude, last year, Bitcoin price went up from 800 usd to 20,000 usd to now about 10k+ usd. That is a price increase of 12-20x or so.
Did mining get 12-20x MORE profitable?
No, it didnt.
Why?
Because bitmain and other manufacturers push out so much equipment to push difficulty far far higher....

Now, wat do u think will happen when more manufacturers add to even MORE mining equipment and BIGGER difficulty increase??
Bitcoin price will need to go up 12-20x again...same as last year... to keep mining profitability sort of the same.

I dont see bitcoin rising to 120,000- 200,000 usd this year. It has stagnated for a month as it is.......
We can have a case where mining does not make money but selling miners makes money.

So much uninformed idiocy in such a small paragraph.

Higher Bitcoin Prices == Bigger Profits Per Coin

Total Hashrate Sum Of Mining Pool Results in ---> Proportional Share Of Block Rewards (Averaged over time, there are variances) + Transaction Fees Per Block Mined

"Stagnating for a month" after rallying to an ALL-TIME FUCKING HIGH is the the usual pattern for Bitcoin, you loon.

Bitcoin is up 969% from January 31st, 2017.

You also realize that there seems to be a direct correlation to increases in difficulty and price?

Of course not, you're too busy being an idiot.

Of course higher bitcoin prices = higher profits but u gotta be freaking retarded to assume that bitcoin price will rise 10 times this year juz because it did so last year. Past performance does not indicate future performance, period...

And if by some miracle that happens, it would be much more profitable to juz buy and hold bitcoin rather than put money into mining equipment.

Dude, there is NO CORRELATION between price and difficulty period lol. Price got pumped last year due to hype and good news from media. That seems to have died down for now.

If there is a correlation, dash price needs to be 2-3 times higher than it is now due to the difficulty's phenominal rise. Antminer D3 will then make some significant profit instead of wat it is doing now.
Bitmain isnt dumb either. They diversify to AI chips as well, not juz mining.

U gotta be nuts if u think btc can rise 10 times a year. That would make its mkt cap over 2trillion plus this year and 20 trillion next year...thats juz impossible and it will actually be posing a significant risk to financial system in just few years from now.