Quote from: Febo on August 13, 2018, 02:48:59 PM

Miners with more expensive electricity will just stop mining when price goes under $5000. That will reduce difficulty and the rest miners will get more bitcoin for same hash power invested.

The majority of the miners aren't even selling their coins at spot prices anymore with how much more they can get for these coins by selling them privately.

I have contacted various miners to sell me virgin coins this year, but they (those that actually did reply) wanted me to pay a premium of 50% per block + fees, which just points out that miners aren't in such a horrible position at all. Buying a whole block with such a premium is too much for me, but if anyone can hook me up with a miner willing to mint 1BTC to one of my addresses for a $2000 premium (premium over spot value at the time of minting) hook me up.