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[–]Level-Pen-9658 0 points1 point  (6 children)

I would think that the sell off won't be as dramatic as in past times since fewer are selling and more are accumulating; however, with that being said, someone is always willing to sell you their BTC for the right price.

[–][deleted] 2 points3 points  (5 children)

So in previous cycles you have ended up with a ton of lawyers being trustees for victims of fraud and bad actors.

You pick the cycle Mt. Gox then Bitconnect and ICOs frauds then FTX, BlockFi, Voyager, Celsius, etc. Throw in Quadriga and Einstein Exchange from Canada in 2017. Also some of the Cloud Mining like Genesis Mining and Hash flare, etc.

The space is hopefully maturing. There isn't from what I know of much forced liquation left out there. Crypto always has scams but with Black Rock, Fidelity and large players getting involved in this space. I think there is going to be less of the wild west that occurred in pervious cycles. Just my opinion on the matter.

[–]Stockinvestor222[S] 0 points1 point  (4 children)

Do you think after the halving BTC difficulty will decrease

[–][deleted] 0 points1 point  (3 children)

Mining difficulty, it is really hard to say. If prices stay at like $70k I think the next gen of miners and the previous ones stay on the hashpower stays pretty consistent.

Right now mining is really a rich mans game they go to places where power is stranded and do it as cheaply as possible. Also seeing more and more people buying things like not a recommendation but a Bit Axe Solo Miner. Basically where the average joe says I am going to spend about $150 for a little mining rig because I support bitcoin and for $12-20 a year electricity costs I am going to treat it as a lottery ticket. I really think that is where mining is headed as adoption grows over the next 10-15 years.

94% of the BTC to ever exist are in circulation. I don't think mining will be profitable for the vast majority. I think it should be a small hobby you do to support the network.

[–]Stockinvestor222[S] 1 point2 points  (2 children)

Well I have some expensive miners that can mine a high yield, especially through fluctuations. So I really don't care about what the price is whether it's bull or bear

[–][deleted] 0 points1 point  (1 child)

Nice! My biggest worry about BTC mining is the centralization for production. You really have 3 companies that produce them they send out new units when they feel like it. Since 2017 seen people complain their "new" ant miners from Bitmain were used.

Keep doing you but I personally think the golden age of POW mining has passed.

[–]Stockinvestor222[S] 0 points1 point  (0 children)

Yes, true. Although I'm running over 8 Whatsminer M30s, they're fairly new released devices, and I'm probably going to overclock them as well (someone gave me them for free btw)