Where's the can opener? - Inside the can. Math Paradox wins in Bitcoin Battle
What a reversal!
We had propaganda from banking and government sector trying to devalue BTC. And they managed to do it. They Even proceeded to shut down the farms in order to cause the transaction delays and prevent mining.
Math Wins. (Profitability Paradox)
- It will alway be profitable to mine BTC. The more farms they close, the better 'shares' are for those who left.
- The more price drop, more people will stop mining as it becomes unprofitable.
- But if more people stop mining, it means more shares for these who remains making it profitable in any scenario.
This is one big logical f****up, leaving very little possibilities to 'get rid' of bitcoin.
BTC mining will always be profitable.
Bitcoin will even get profitable by becoming not profitable or if you like,
Where's the can opener? - Inside the can. That's the beauty of science. Especially the 'Paradoxes' as this one definitely is.
And here I am.. just surfing the blockchain. HELLO FUTURE BLOCKCHAIN ARCHAEOLOGISTS!!
BTC mining is definitely not always profitable. When they "close" farms they are not deleted forever; they come back in a different country. Look at the difficulty chart it has been increasing for a very long time. Difficulty is rate limiting profits, eventually only those with cheap power will be able to sustain large scale operations.
I do agree it's not always profitable for everyone, but here we talk about hypothetical connection between number of miners and profitability, and the fact it will always be profitable for someone, so we are going to have miners and blockchain will continue to run.
Difficulty raises, but as well reversed proportion between number of miners and the shares they got. Under assumption farms are closed in whole world, it will become profitable for mining with CPU again :)
That's the 'small math paradox' they forgot in "Anti BTC" campaign.