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Halving is scheduled for 2020. Miners probably have lots of dormant equipment they already purchased and are gradually turning on. They must increase hashpower
by tboyd47 8y ago
Halving is scheduled for 2020. Miners probably have lots of dormant equipment they already purchased and are gradually turning on. They must increase hashpower if they want to maintain the same return, but it's in their best interest not to do it all at once to keep difficulty low for as long as possible. Price is probably not a big factor in the short term.
- cdiddy2 8y agoI sort of doubt that, you would want to use the mining equipment as soon as you get it because more efficient equipment would/could come out between now and then making your profits a lot less or even your equipment obsolete
- tboyd47 8y agoThis is true. They could also be mining a different coin or chain then switching over. All speculation I guess.
- bwbw223 8y agoNot with bitcoin - ASICS are the only profitable way to mine. They only work on sha256 coins, and generally crypto currencies that use the same POW have similar difficulty/profitability.
- bufferoverflow 8y agoMiners would be insane not to run their mining equipment. It gets obsolete rather quickly.