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by nathan_f77
3119 days ago
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> However, they will receive fewer and fewer bitcoin over time because of the fixed supply. At some point doesn't mining become unprofitable, causing the network to crash. This would actually cause the price of Bitcoin to increase, so that it keeps up with the cost of mining it. The miners won't sell their Bitcoin for less than the cost of electricity. At some point, large mining operations will run their own power stations, and they'll just run on solar / hydro / geothermal power. They might even sell any surplus energy. Other miners might start paying for their electricity with Bitcoin, so the price of electricity might become directly related to the cost of mining Bitcoin. |
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