BTC does not deserve the nr.1 spot in marketcap. cryptocurrency as a whole has far more value then that. Therefore BTC must lose its dominance to other cryptocurrencies that can be competitive and can provide the utility that blockchain promises.


BTC does not deserve the nr.1 spot in marketcap. cryptocurrency as a whole has far more value then that. Therefore BTC must lose its dominance to other cryptocurrencies that can be competitive and can provide the utility that blockchain promises.

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View Reddit by VeritasSapere

Bitmain’s Bitdeer Cloud Mining Update: Customers Now Losing 1.4%, PER DAY. (buying new miners will lose even more.)


This post refers to a [previous analysis](https://np.reddit.com/r/bitcoincashSV/comments/aa0t3w/bitmains_latest_attempt_to_avoid_bankruptcy/) of Bitmain’s Bitdeer cloud mining offering.

Only two weeks later, while daily costs remain at $17 per day, revenues unsurprisingly fell to $15.29 due to lower BTC prices and rising total hash rate (according to [cryptocompare.com] (https://www.cryptocompare.com/mining/calculator/btc?HashingPower=100&HashingUnit=TH%2Fs&PowerConsumption=0&CostPerkWh=0&MiningPoolFee=0).)

The resulting daily loss of $1.71 is equivalent to **1.4% per day**.

Additional warning:

There is a large surplus of miners in the market that can be switched on at any time ([12.5EH/s](https://www.blockchain.com/en/charts/hash-rate?timespan=2years&daysAverageString=7), equivalent to approximmately 1 million antminer S9s.) The consequence is a hashrate that can rise without warning and cripple working miners’ profitability.

Buying a new miner in such conditions, accounting for the cost of hardware depreciation on top of electricity and maintenance costs, is guaranteed to destroy your capital.

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View Reddit by btcnewsupdates

Noobs really ruined the crypto culture they entered imo. The major one is they ruined the hodl meme which is still the best way for people to invest in actually good long term cryptos like BTC. Just cause they ran into a bunch of obvious scams at a parabolic top we all have to lose?


Noobs really ruined the crypto culture they entered imo. The major one is they ruined the hodl meme which is still the best way for people to invest in actually good long term cryptos like BTC. Just cause they ran into a bunch of obvious scams at a parabolic top we all have to lose?

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View Reddit by Bitbaby11111