Post
Topic
Board Bitcoin Discussion
Re: Is it possible that number of miners will decrease for a while?
by
7788bitcoin
on 12/05/2020, 15:01:02 UTC
With the recent halving of block rewards, the incentive will be lower than previous for miner. On the other hand, the cost for them will still be same which may not be profitable for a while (I'm not sure about this). If it is true, is it possible that some miners will just leave mining for a while until they get back in a equilibrium or in profit? What fo you think?
If you check in the past, the miners were running the machines when the price was around $200 and the general price of things, especially the hardware and electricity has not increased considerably in the past 5 years and now the price of bitcoin is over $8800, so you can compare that and come to a conclusion. The small mining farms might have a difficult time maintaining everything because of the rise in difficulty but the big farms will always sustain.