Since 8 August Bitcoin mining became also unprofitable for the Genesis contracts, after Hashflare and Hashing24 and others no longer could mine with profit.
Below 6800 USD Bitcoin mining is no longer profitable for Genesis.
Despite this, Bitcoin Hashrate keeps growing day by day and is now 10 times bigger than a year ago with over a whopping 50 million TH/s.
@pagandance,
Dan see this crisis and introduced 3 blackchains that could answer that!
STEEM, BTS, EOS!
Cheers~
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But these go down with Bitcoin too. As I see it now, the Alts will only catch up with Bitcoin again once it has stabilised in 5-10 years.
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@pagandance,
Seriously 5-10 years? Oh f#$k :/
Cheers~
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Last year Bitcoin was in trouble with high fees and forks etc. and there was going to be the 'flippening'. But that never happened.
Now Bitcoin Is Stronk. With fast and small fees.
When bitcoin goes up, the alts go down, when bitcoin goes down, the alts go down even deeper.
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I feel that there are forces trying to keep bitcoin's price down. The constant negative news has brought demand down and it is more difficult to buy than 1 year ago. Regardless, at less than 6000, it is cheaper to buy it than to mine it.
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I think it's the big miners like Genesis and Bitmain that are trying to suffocate the smaller mining farms. They are mining now with losses, but I think they are also the bears that push prices down. If they can keep this game going for over 2 months, they can get rid of all the old contracts and use the old ASICS to mine for 100% for themselves.
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what a great price point for bitcoin we all are stuck at this is going to be massacre in prices
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oh man... no!
Im not amused and i invested my money in both. Hashflare and Genesis.
hope change will comming soon!
thanks for sharing!
maybe you like my content, too.
please let us connect and stay tuned
@fux 🦊
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hopefully Bitcoin does not stay longer than a few weeks where it is now, or else our mining contracts will be terminated, as their clause says if we have to stop mining for more than 2 months, your contract will be terminated.
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I have also invested in both. I have received my money back as I invested early 2017. I do feel for those that invested recently. It is a good time to buy Bitcoin as it is cheaper than mining. The price will increase soon, but I don't think mining will be good again, there are too many big miners out there...so best to buy little chunks when you can.
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I went in too late, in mid 2017. I just broke even with Genesis Bitcoin, but with the others I am at a loss.
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Why bitcoin is not divided on my wallet
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