<p>More than a question <strong><em>it seems like you are asking for a prediction of behavior</em></strong>. What miners will do eventually, and how <code>getdifficulty</code> will be affected, has been central to many conversations around Bitcoin.</p>

<p>In my honest opinion, <strong>even at 3000 USD per BTC it is still highly profitable</strong> for miners. The key factor is if miners need to move their generated Bitcoins to fiat money to pay bills.</p>

<p>If a miner or mining pool manages to avoid these payments based on future price -something they should aim at-, they will be doing quite good with even 1000 USD per Bitcoin.</p>

<p>Remember that <em>we are creating the Bitcoin/Frame/Economy</em>. Trading for fiat currency is just not the main idea behind cryptocurrencies.</p>

CC BY-SA 3.0
2018-02-11T13:11:53.620Z
There was a survey recently about cost of mining bitcoins that's relevant to this discussion: http://www.ibtimes.com/bitcoin-mining-cost-lowest-venezuela-highest-south-korea-report-finds-2646191
Abdussamad
CC BY-SA 3.0
2018-02-11T10:41:56.790Z
2018-02-11T10:41:56.790Z
abellido
<p>Over a set period of time (around 10 mins for BTC), a number of transactions are compiled into a block by a miner, and then the block is verified on the general ledger and added to the list of blocks which make up the blockchain.</p>

<p>Consider the price of Bitcoin goes down to $3000, will this effect Mining operation go on?</p>

<p>What actually going to happen to the difficulty of solving problems in mining?</p>

<p>Thank you in advance.</p>

<hr>

<p>Regards,</p>

<p>Raghu Ariga</p>

<mining-pools><mining-theory><mining-hardware><mining-profitability>
Consider Bitcoin Price goes down to $3000, what will be the effect on miners (will they stop mining) and the affect on difficulty to mine a Bitcoin?
Raghu Ariga
# Consider Bitcoin Price goes down to $3000, what will be the effect on miners (will they stop mining) and the affect on difficulty to mine a Bitcoin?

(Asked by: username_0 on 2018-01-27)

Over a set period of time (around 10 mins for BTC), a number of transactions are compiled into a block by a miner, and then the block is verified on the general ledger and added to the list of blocks which make up the blockchain.

Consider the price of Bitcoin goes down to $3000, will this effect Mining operation go on?

What actually going to happen to the difficulty of solving problems in mining?

Thank you in advance.

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Regards,

username_0 username_0

**Tags:** mining-pools, mining-theory, mining-hardware, mining-profitability


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## 1 answers

### Answer by username_1 on 2018-02-11. Score: 1

More than a question ***it seems like you are asking for a prediction of behavior***. What miners will do eventually, and how `getdifficulty` will be affected, has been central to many conversations around Bitcoin.

In my honest opinion, **even at 3000 USD per BTC it is still highly profitable** for miners. The key factor is if miners need to move their generated Bitcoins to fiat money to pay bills.

If a miner or mining pool manages to avoid these payments based on future price -something they should aim at-, they will be doing quite good with even 1000 USD per Bitcoin.

Remember that *we are creating the Bitcoin/Frame/Economy*. Trading for fiat currency is just not the main idea behind cryptocurrencies.

> **Comments:**
> **username_2**: There was a survey recently about cost of mining bitcoins that's relevant to this discussion: http://www.ibtimes.com/bitcoin-mining-cost-lowest-venezuela-highest-south-korea-report-finds-2646191  

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