Post
Topic
Board Mining speculation
Re: Is it the end of mining or a new beginning for Bitcoin?
by
cat2
on 03/10/2014, 23:07:04 UTC
Mining just isn't worth the trouble anymore.  Unless we see a huge surge in price or the prices of miners slashed, its just not profitable to the majority.

I have a feeling we will see sub 300 prices within the next 2-3 weeks.

The big players can mine close to the line between cost of mining and value of mined BTC. Any huge surge in price will be followed shortly afterward by a huge surge in hashrate and the onflow of rise in difficulty.

I'm not so sure the big players don't need a big profit. They have investors that expect a return, facility payments, salaries, taxes and all the other expenses associated with running a business. While they may enjoy advantages that come with large data centers in favorable locations their competitors enjoy the same. Equipment manufacturers are probably in the best position for competing in the developing, new Bitcoin landscape but difficulty keeps growing like a bad cancer for them and the Bitcoin price keeps falling. They're not in business to hoard Bitcoins so they have to sell and this isn't helping the price rise.