I just read an interesting article that states despite the decrease in value of bitcoin mining has actually got busier. And apparently, with the costs involved, bitcoin needs to be worth $8,600 to be profitable (that is an interesting fact I am glad I came across). So why is mining picking up if people are not making money. It could just be an increase in popularity and people thinking it will be profitable or maybe they are getting ready for another jump.
I do think 3 quarter, maybe 4th will see another big increase but who knows. Maybe the the price will continue to decline as more regulations come in.
On a side note I would be interested in mining but am feeling sites like steemit with content used as money and p.o.s are the future so maybe it is something I won't get into. Not that I am doing it anytime soon. Any profitable miners out there?
Again don't invest what you can't lose. This is just an interesting point about miners
Here is the link for more info:
http://bitcoinist.com/bitcoin-price-catch-hashrate-q3-analyst/
I am more bullish on Steem than any other Cryptocurrency. Especially with the latest grading system made public by china and a B+ rating given by Weiss. Nothing compare to Steem now and it is only matter of time. I only now stick on the best blockchain.
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This is a good news but we have been listening this from very long back. Its just that Bitcoin now is in consolidation phase. Soon very high price rise will happen.
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Here it is, that trendline, being touched. Short term
Bounce and then lower.
https://steemit.com/crypto/@heyimsnuffles/snuffles-called-for-bitcoin-lower-against-the-trending-bulls-now-what-20180529t012019434z-post
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nope, we are going to 2-3k first and then we start the bull market
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Well I do hope this is right and not just another bluff. The market psychology is becoming more harder to decipher these days and I personally thought we wouldn't see a rise soon. But yet again, I'll put my dollar on the miners
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I think the banks own all the alt coins and are playing with the market like they do in their market....
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Well I do hope this is right and not just another bluff. The market psychology is becoming more harder to decipher these days and I personally thought we wouldn't see a rise soon. But yet again, I'll put my dollar on the miners
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One of the main things that will make BTC go higher is the mining reward halving event.
This was the catalyst for the last run up. The next one should be even bigger as large institutional investors that are making plays will realize the supply just got cut in half.
This event will happen in 2020.
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It needs to go higher. Much lower and mining will be not profitable whatsoever.
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Mining hashrate continues to increase for some time after mining becomes unprofitable, since people decide to HODL their mined coins and expect for the better. And here I can't blame them, since if we don't recover from a triple bottom, a bear market might be real.
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It is distinguished between 3 types:
Asics have the best performance, although they are nearly worthless after newer models realeased. GPU-Miners probably are your safest bet. I'm not mining myself but i know that most people use multiple rx 480.
Popular ASIC manufacturer is Bitmain
Wether mining is worth strongly depends on your electricity price!
Don't invest what you can't lose.
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You got a 18.89% upvote from @postpromoter courtesy of @whatageek!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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The stalemate is unstable and all that is said is speculations and assumptions that may be known as growth in the second half of the year after the decline
Thank you
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Didn't know that about bitcoin. Mining Zencash was profitable with my GTX980 from November until January. I made a couple hundred dollars running my card when I wasn't gaming, last I checked profitability was down to about 40 cents a day on my setup
Two sites you can check if you want to get into mining are whattomine.com and coinwarz.com for checking your profitability
If what you found out about bitcoin is true then our next big boom could be dependent on the development of more powerful and energy efficient mining hardware.
Proof of stake is where its at, about a week after joining Steemit, I stopped mining (happened to be the same week profitability went kaput)
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Anything can happen,
but nobody knows what will
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I don't think it can go that much higher as of today is pretty out there, but is becoming more popular so who knows right?
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Hope just becouse you said it ... it is going to happen ;)
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Things change so the economic market too lets just wait to see what next
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it is a tremendous success for you, i will follow you @whatageek
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Yep, I will concur with you @whatageek. ;) Thank you, sir
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I think once people realize POS is a shill for the corporate structure and centralization bitcoin will rise a lot...
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its a good point but i think alt coins are due for a bull run not bitcoin.
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i am so glad to hear that.. thats a good news for all steemit friends. thank you for share an amazing post
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