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I think at a certain point, the only profitable way to mine BTC will be with energy that was going to be wasted anyway.
by Miner49er 6y ago
I think at a certain point, the only profitable way to mine BTC will be with energy that was going to be wasted anyway.
- ForHackernews 6y agoThat depends how high the BTC bubble price goes. At a certain point, mining BTC could be the only economically viable activity to do with electricity.
- cesarb 6y agoThat's only the case if the Bitcoin price is low. Each block gives the miner a certain amount of Bitcoin, so it's only profitable to mine Bitcoin if the cost of the energy used to mine that block is lower than the price of the Bitcoin the miner received. The higher the price of Bitcoin, the higher can the cost of the energy be before it's no longer profitable.
- Miner49er 6y agoYeah it's of course a balance. It depends on the difficulty, reward, and cost. The reward is constantly going down. I guess I just think there will eventually be a balance where it's only possible to mine with free/wasted electricity, but maybe not.