Quote from: Red-Apple on August 23, 2018, 11:04:27 AM

Quote from: Vispilio on August 22, 2018, 11:37:31 PM

Already at these prices most EU and US based miners are at breakeven prices. Below 200 USD, the vast majority of ETH miners would have to shut down, the transactions would

slow to a craw, among many other problems. Barring a catastrophic meltdown of crypto markets, further erosion of Ethereum price is unlikely.

people have been saying this for a very long time now. in fact each time ETH price drops about $100 someone comes out and says this price is the bottom and miners will go if it drops more.

but what you are all missing is that miners have been leaving for a while now. they stopped making profit as the price started dropping and as the difficulty made it hard for them to make profit. right now big mining farms are remaining on ETH chain mining coin with some hobby miners which will soon go away as it drops more.

not to mention that all of this is irrelevant because miners do not control the price. when people panic dump, there is nothing that can stop them.

All you can do now is pick up one of the leading cryptos for pennies but people refrain to do that because they sense it is all doomed. If you do research and will realise that nothing is wrong with Ethereum despite all the fud. There are upgrades that even improve the scalability issues like Casper. Not get sidelined by fear caused by temporary low prices.