<blockquote>
  <p>Does the actual bitcoin price depend on the mining profitability?</p>
</blockquote>

<p>Strictly speaking Bitcoin doesn't have a price, it is a currency that has exchange rates with other currencies.</p>

<p>The exchange rate between BTC and, for example, USD seemingly depends on </p>

<ul>
<li>market sentiment.</li>
<li>supply and demand.</li>
</ul>

<p>Changes in production costs, for example due to the halving of the mining reward, have some influence on the exchange rate but not as much as, for example, the influence of government reactions to the Covid-19 pandemic.</p>

CC BY-SA 4.0
2020-03-13T15:55:53.493Z
2020-03-13T15:55:53.493Z
RedGrittyBrick
<blockquote>
  <p>Does the actual bitcoin price depend on the mining profitability?</p>
</blockquote>

<p>I don't know what the price bitcoin depends, but if I understand your question, it is better to write: The mining profitability depends on the bitcoin price?" now have more sense (in my opinion)</p>

<p>At this question, the answer is <strong>yes</strong> because if the miner makes X bitcoin from mining action if the price is upper, the miner has more profitability.</p>

<p>Returning to your question: "Does the actual price bitcoin depend on the mining profitability?"
I think the bitcoin price is more complex and doesn't depend <strong>only</strong> on the mining, but I don't want to talk another on this argument because I don't know the argument.</p>

<p>PS': On this argument, I have read some details on an event did on Litecoin after the halving, I have read that on Litecoin after having the price went down because the miner doesn't mine on Litecoin blockchain.</p>

<p>PS'': The having event is an event to halving the reward of the miner</p>

<blockquote>
  <p>Is the same thing with other cryptos?</p>
</blockquote>

<p>This question depends on the previous answer, but I think only the price market is the same between crypto; someone here might take offense (I'm joking :)) if you "think" the Bitcoin is the same to another crypto.</p>

<blockquote>
  <p>There is a bitcoin tab on github and I have heard that people can modify it, so why they modify it if they can't change the actual bitcoin code?</p>
</blockquote>

<p>What is the github tab? Do you mean this? <a href="https://github.com/bitcoin/bitcoin" rel="nofollow noreferrer">https://github.com/bitcoin/bitcoin</a> ?</p>

<p>Bitcoin is a project open source, all persons can modify the code Bitcoin but this doesn't mean that the code modified will be approved to the community of bitcoin.</p>

CC BY-SA 4.0
2020-01-12T11:31:25.113Z
2020-01-12T11:31:25.113Z
vincenzopalazzo
<p>Bitcoin prices are, however, affected by several factors, other than mining energy costs. For instance, they are influenced by the supply of the Bitcoins and their demand in the market. It also depends on the number of other cryptocurrencies like Ethereum, Litecoin, etc. competing with Bitcoin and the crypto exchanges where the trade takes place. </p>

<p>Therefore the cost of production which includes the cost of energy used for mining is one of the several factors that finally affects the price of Bitcoin. The production and price mechanism of Bitcoin is different from those of other produced goods and hence does not depend on the cost of production only. </p>

<p>As high amounts of energy are required for production; producers have also started the use of renewable energy resources especially in the face of the growing concern of energy conservation and global warming.</p>

CC BY-SA 4.0
2020-03-13T11:59:16.120Z
2020-03-13T11:59:16.120Z
Mark V
<p>Hey guys if you answer this question that I am keeping from months ill be happy. </p>

<p>Does the actual bitcoin price depend on the mining profitability?
So is it more profitable mine when the price is high?
Is the same thing with other cryptos?
There is a bitcoin tab on github and I have heard that people can modify it, so why they modify it if they can't change the actual bitcoin code? </p>

<blockchain>
Does the btc price depend on the reward?
Newdude
# Does the btc price depend on the reward?

(Asked by: username_0 on 2020-01-11)

Hey guys if you answer this question that I am keeping from months ill be happy.

Does the actual bitcoin price depend on the mining profitability?
So is it more profitable mine when the price is high?
Is the same thing with other cryptos?
There is a bitcoin tab on github and I have heard that people can modify it, so why they modify it if they can't change the actual bitcoin code?

**Tags:** blockchain


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## 3 answers

### Answer by username_1 on 2020-03-13. Score: 1

> Does the actual bitcoin price depend on the mining profitability?

Strictly speaking Bitcoin doesn't have a price, it is a currency that has exchange rates with other currencies.

The exchange rate between BTC and, for example, USD seemingly depends on

* market sentiment.
* supply and demand.

Changes in production costs, for example due to the halving of the mining reward, have some influence on the exchange rate but not as much as, for example, the influence of government reactions to the Covid-19 pandemic.


---

### Answer by username_2 on 2020-01-12. Score: 0

> Does the actual bitcoin price depend on the mining profitability?

I don't know what the price bitcoin depends, but if I understand your question, it is better to write: The mining profitability depends on the bitcoin price?" now have more sense (in my opinion)

At this question, the answer is **yes** because if the miner makes X bitcoin from mining action if the price is upper, the miner has more profitability.

Returning to your question: "Does the actual price bitcoin depend on the mining profitability?"
I think the bitcoin price is more complex and doesn't depend **only** on the mining, but I don't want to talk another on this argument because I don't know the argument.

PS': On this argument, I have read some details on an event did on Litecoin after the halving, I have read that on Litecoin after having the price went down because the miner doesn't mine on Litecoin blockchain.

PS'': The having event is an event to halving the reward of the miner

> Is the same thing with other cryptos?

This question depends on the previous answer, but I think only the price market is the same between crypto; someone here might take offense (I'm joking :)) if you "think" the Bitcoin is the same to another crypto.

> There is a bitcoin tab on github and I have heard that people can modify it, so why they modify it if they can't change the actual bitcoin code?

What is the github tab? Do you mean this? <https://github.com/bitcoin/bitcoin> ?

Bitcoin is a project open source, all persons can modify the code Bitcoin but this doesn't mean that the code modified will be approved to the community of bitcoin.


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### Answer by username_3 on 2020-03-13. Score: 0

Bitcoin prices are, however, affected by several factors, other than mining energy costs. For instance, they are influenced by the supply of the Bitcoins and their demand in the market. It also depends on the number of other cryptocurrencies like Ethereum, Litecoin, etc. competing with Bitcoin and the crypto exchanges where the trade takes place.

Therefore the cost of production which includes the cost of energy used for mining is one of the several factors that finally affects the price of Bitcoin. The production and price mechanism of Bitcoin is different from those of other produced goods and hence does not depend on the cost of production only.

As high amounts of energy are required for production; producers have also started the use of renewable energy resources especially in the face of the growing concern of energy conservation and global warming.


---

