Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
empowering
on 30/06/2022, 17:37:53 UTC
If bitcoin keeps falling soon it won't be enough to just hold BTC. Every holder will have to buy a miner and make it work at home. Because falling under $ 17 000 will force many miners to turn off their equipment. Those who mine with S17 and pay $0.1 per kilowatt lose $1.2 every day if 1 BTC costs $ 20 000.

Oh my God... I just had this terrible thought... This could lead to a sort of negative feedback loop!  Ahh, what could we call it... an "abysmal spinning down".  No too clunky.  Umm, a "deceasement loop"... nah deceasement is not a word, is it?

I don't know... someone could come up with a good name for it.

How have we never thought of this before?


...death spiral ?

When people started talking about a death spiral in 2018 the bottom was in.

This is from December 3, 2018. It's by a University professor of finance "expert".

https://www.ccn.com/worthless-bitcoin-has-entered-death-spiral-finance-professor/




Silly professor