Quote from: Hydrogen on January 21, 2021, 03:26:07 AM

Quote from: Shin Na on January 21, 2021, 03:01:53 AM

The miners get paid less and less as time goes on.
With the ledger also growing bigger and bigger, wouldn't the cost of mining start to exceed the profitability of mining? If no one would mine bitcoins anymore, wouldn't it shut the whole system down?

[...]

Thanks to moore's law, performance of mining hardware improves over time. While power consumption decreases. The value of bitcoin also increases.

These factors coupled together can translate to greater net dollar rewards, even if BTC rewards halve every 3 years.

Everything miners are able to earn past their break even point is free money. Long term, electricity consumption and hash rate difficulty, become the main factors.

Wow this analysis is very helpful. Loved the way you represented Moore Law here. This makes me comfortable and confident about my mining. Though I am not mining bitcoin primarily but this calculation is surely applicable to all the types of mining. Over the time I know electricity costs and energy that was spent will be paid back. The prime factor is change in the prices. Just imagine who ever was mining at the rate of 150 USD per ETH or 7K USD per BTC are now in complete profit and all their expenses are already paid off with extra profits tbh.

Moreover we are at the stage where 88% of supply is already mined and the lesser the supply, more is the demand.

So yeah with the above support statement I do believe bitcoin is completely viable.