Re: What happens when the price of Bitcoin falls below the cost of mining?
Some Googling fetched this result:
https://www.cnbc.com/2018/03/15/bad-news-for-bitcoin-miners-as-its-no-longer-profitable-to-create-the-cryptocurrency.html
CNBC feels that mining will continue even after the Bitcoin price falls below the cost of mining because, China! It seems that the primary motive behind Chinese mining ops is to push money overseas, and this result is achieved by Bitcoin mining even at some, or a significant, loss. Not a game for the faint hearted, but the Chinese miners are built of sterner stuff.
https://www.cnbc.com/2018/03/15/bad-news-for-bitcoin-miners-as-its-no-longer-profitable-to-create-the-cryptocurrency.html
CNBC feels that mining will continue even after the Bitcoin price falls below the cost of mining because, China! It seems that the primary motive behind Chinese mining ops is to push money overseas, and this result is achieved by Bitcoin mining even at some, or a significant, loss. Not a game for the faint hearted, but the Chinese miners are built of sterner stuff.