Post
Topic
Board Economics
Re: What happens if bitcoin price falls below the cost of mining it?
by
tbterryboy
on 26/03/2018, 11:01:32 UTC


Wouldnt that be a threat to a manufacturer like Bitmain? I think it is in their interest to pump BTC than give up and lose their billion dollar company. I know this is shocking, but Bitmain is already earning billions from ASIC miners.

We have seen this kind of pump done by them during the halving of mining rewards.

Yes - though Bitmain is insulated by the fact there are now so many bitcoin forks for miners to mine - bitcoincash, bitcoingold, etc etc.

But its in the best interest of every ASIC miner involved in cryptocurrencies for BTC to succeed. If it falls it will take every coin with it. Thats why I do not know why some altcoiners are so quick to indicate faults in BTC.
This is not a fault on the part of bitcoin if rest of all toddling currencies are dependent on it. The thing is they are new to the world and bitcoin was there when no other currency was in the market. Bitcoin can never ever be beaten by any coin from the community of altcoins because of the immense support bitcoin is getting throughout the world. Altcoiners should stay realistic and stop blaming bitcoin.