Bitcoin Mining – Time to Worry?

Bitcoin mining giants are falling on hard times, what does it mean for Bitcoin and the wider crypto economy?



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About the Author: The Crypto Lark


  1. miners complain too much. btc's formula adjusts according to its own price.. it is self-monitoring and makes the math easier the lower the price and the math gets harder the higher the price.. so if the miners just paid attention they'd see that their btc would be coming in faster the lower the price drives down with their same hardware.

  2. BTC cannot survive. With the increasing number of people that want to mine, combined with the fact that the price of BTC was eternally stunted by Blockstream, miners are going to flee to other, better blockchain projects.

    Normies find Bitcoin first. What are they going to do? They're going to try to mine Bitcoin, and they're gonna figure out real quick how difficult and unprofitable Bitcoin mining is. All of the sudden, normies give up. And only big businesses get to mine BTC.

    Nice failure at trying to be decentralized, BTC.

    Not to mention that the Lightning Network is bringing middle men back via L-Hubs, and if it's successful, Bitcoin miners will lose most of its network growth to the POSers on the LN.

    All while Bitcoin still costs $2-$5 to use in even sending a transaction, and we get to look forward to $50 fees again the moment we get back to $20,000/BTC.

    As a proposition of a transfer of value, BTC is worse than your bank account and your credit card, it's more expensive than lugging gold around.

    So what is the utility of Bitcoin in which it's long term value will be derived? As a store of value?

    Not only is the store of value proposition as a reason to have value self-contradictory, but BTC has proven itself to be a TERRIBLE store of value. You're better off holding your fiat currency, and if that's not good enough, literally any precious metal is a better store of value than BTC.

    So what is there to even actually hope for in the cryptospace? The coin with sub-cent fees, guaranteed increasing network security, fast and reliable transaction times, and whom is closest to worldwide adoption will be the winner.

    The coin with all the speculators, the HODLers, and the people who want to buy Lamborghinis without working to afford one, in which this coin is constantly being delisted by businesses as a payment option, will lose in an awful scene of capitulation.

    Stop shilling shit Lark. Stop making an enemy of the good guys.

  3. Another thing that hurt Bitmain was their shitty ethics.

    They would mine on new tech, and push the hashrate to uncompetitive levels, before selling those used miners on the consumers. That alone makes me feel zero sympathy for them. I hope someone can swallow up the staff they're cutting, and employ those people, while putting them out of business.

  4. Lark 2 years ago Bitcoin was only worth 1k…it's still 4k after all this 2018 dropening…like any buisness it profit margin…cheap power equals profit for crypto mining…

  5. Cloud mining contracts are so un profitable. I switched to MAAS (mining as a service) where I have my own miner at a mining farm with the Elevate Group.
    They have overclocked heir miners, low power costs and I'm still profitably mining in a bear market with low difficulty.
    Wonder how many more cloud mining company's are going to drop out of the market?

  6. This is all like a Beauty contest. Only those who have been preparing for years AND who can afford cosmic surgery that looks natural enough will reach the Miss Universe finals. The show and routines barely change from one year to the other, participants are the only (expendable?) variable.
    As Crypto-darling Charlie Lee said: "…only the strong will make it." 🙂

  7. Appreciating the balanced updates (keeping us informed of both the 'good' and the 'average' developments). Be brave when others are…. (you know how it goes lol). I am here for the long haul

  8. Guaranteed you'll see big players like Goldman Sachs and hedge funds start buying up these troubled companies and sit on them and their patents until the next boom and then make out like kings

  9. maybe this was satoshies vision after all …… the big money players try to gain large share via MASSIVE mining potential then market drops and washes them out to RESET and give more power back to the people …. rinse repeat !!! ????

  10. Any company that delays their products or infrastructure creation just because bitcoin is down right now, and doing something that is completely normal over its life cycle, is flat out dumb. This is the time to get their products and services ready, because when it booms again, you don't want to then decide to build something, the ones who already built it have you beat.

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