I think we all know the fact that BTC mining consumes lot of electricity and many cities/countries are banning Bitcoin mining or charging heavy bills. The cost of mining is rising, places to mine are become less. And this will only get worse as the mining difficulty will rise. And not only that, as per this Cointelegram post, the profit margin has drastically lowered.
https://cointelegraph.comHow do you think this will impact Bitcoin mining and Bitcoin itself. Do you think mining will become way more centralized due to this? Do you think mining difficulty will be brought down (I know this option is almost impossible)? Maybe we will have new mining hardware? Or mining will become a loss service and there will be almost no Bitcoin miners left?
I would really like to hear your opinions on this topic.
I am not sure mostly countries have ban bitcoin mining or not, but i am sure, it is not suitable for every man, because of many reasons, like the purchases the things of bitcoin mining, these are very costly and secondly, mining use too much electricity and it is not-affordable for every man. I can't afford it, even too many time i though to start bitcoin mining but in the end i realize i can't make profit from it. You are right in bitcoin mining becoming less profitable.