Quote from: BartS on July 04, 2018, 07:31:50 PM

Quote from: jackhdt on July 02, 2018, 11:27:34 AM

Bitcoin mining costs a lot of electricity , time and cost of machines. But the reward is getting less and less. In recent years the exploitation cost has increased significantly . If bitcoin prices continue to decline , this can prevent many people mine bitcoin

Many people cannot mine bitcoin anymore, you need specialized hardware that is very expensive and you need cheap electricity costs, so the majority of bitcoin users cannot mine bitcoin at all, besides miners have gotten such profits in the past that they should be able to operate for a loss for some time and if they are unable to do so then other miners will displaced them or just absorb them, this is not really a complex issue besides it is not like we are close to the point when miners will not be profitable anymore.

I agree with this. The vast majority doesn't depend on mining to get bitcoin. Think of mining like the gold rush. There was a point in time where people who saw the opportunity could go and make some good amounts of money, but when others wanted to hop on the trend it was too late -- a lot of the gold was gone. In a similar sense, miners nowadays have to have huge rigs to cut a profit because of how much harder mining is getting. Before, just about anyone with a decent graphics card could mine. Nowadays, it's pretty different. Price exploitation is still an issue though, with many whales and such around.