I'm transitioning from GPU/CPU mining and new to ASIC Mining. Prices on the Bitmain S19s have dropped significantly ( From 10K to 3K ).
If you're looking at that S19 at $3200, don't do it!
If you have 5c/kwh you're going to ROI in about 3 years while the S19 H next to it has 600days at the same electricity rates and even that it's not the best deal on the market.
I am looking at the Bitmain S19 Pro (110). Seen some new ones for around $3500.
Is the S19 H the Hydro 198TH for around $11K ?
Is price drop based soley on the bear market or is it something more concerning like perhaps banning mining ( USA ) or a new technology on the horizon ?
The price goes up when the revenue per THs goes up and they come crashing down to somewhat real manufacturing costs when the gold rush is over and ROI numbers are counted as above in years. For example from July to December last year the revenue per TH/s stayed mostly above 30 cents, peaking at 40, that's 40$ a day for an S19, now its 7cents per TH/s, 7$ a day, a difference of 30$ a day or 10k a year, so the price of the gear was matching the demand of people rushing in dreaming of those profits lasting forever.
Bitcoin will drop to $5000, then, $2000 or $1000 in next year.
Then $500, then $200 or $100, because...reasons!
I am of the opinion ( and dreams ) that Bitcoin will eventually rebound when the recession is over ( Couple of years ). I have lost all faith in our fiat system. Left unmolested by the central bankers and decrepit governments, Bitcoin makes sense with the limited supply and decentralization. ( They can't persude a "Vitalik Buterin" to bastardize the blochkchain and centralize Bitcoin )
The general consensus here seems to be that Bitcoin will drop to next to nothing.
Do you believe Bitcoin is worthless or will the Central Bankers and governments outlaw Bitcoin ?
Thanks,
Ronald