jfoxcpacfpModeratorStatus: Financial Advisor, Accountant, Small Business OwnerPosts: 8141Joined: 01/09/2016
This thread remind me of the problems with recycling, especially now that China has virtually stopped imports.July 28, 2019 at 5:30 am MST #234248docnewsParticipantStatus: PhysicianPosts: 410Joined: 01/09/2016
It’s a market. If you believe Bitcoin will rise in the future you could operate at a loss. But generally those operating at a loss stop but that makes the remaining more profitable. It’s a supply and demand and it’s not that bad if it is near balanced for the network.July 28, 2019 at 5:45 am MST #234253KambanParticipantStatus: PhysicianPosts: 2490Joined: 08/01/2016
There can only be 21 million bit coins that is possible. Of which 17 million have already been mined. For the 4 million left to be mined we are using enormous amounts of power to extract it. From 50 bit coins per block mined it is now only 6.25 bitcoins per block from 2020 and it is halving every 4 years. As blocks get harder and electricity costs rise and the amount of bitcoins given per block start to fall further and further, there will come a point when mining operations will cease.
Originally, 50 bitcoins were earned as a reward for mining a block. Then it dropped 25 bitcoins, and then to 12.5 bitcoins. In 2020, it’ll drop to 6.25 bitcoins. So if we do the math, if there is a halving event every four years, the last Bitcoin should be mined sometime in the year 2140July 28, 2019 at 11:20 am MST #234386