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[AudraMiller]

When it comes to mining that is one of the simplest methods that you can use to earn crypto, provided that you have the right equipment and a good mining rig that is set up. In a recent mining sell off, the miners have dumped over 5000 BTC tokens, causing the price of bitcoin to crumble. This bitcoin was sold off over the last week, and caused the price to fall in excess of 15% this week alone. What are your thoughts on this development?

 

[microunit]

Around these time last year too is the time when the miners too dump a large portion of bitcoin so I think it's kinda a normal turn of things as miners do need those money for maintenance too

 

[AudraMiller]

Around these time last year too is the time when the miners too dump a large portion of bitcoin so I think it's kinda a normal turn of things as miners do need those money for maintenance too

This would make sense. For many miners as well thy can use a large portion of the funds in order to try and upgrade their mining facilities to be more profitable as well.

 

[microunit]

This would make sense. For many miners as well thy can use a large portion of the funds in order to try and upgrade their mining facilities to be more profitable as well.

not only that they could also use the funds for further maintenance, as with the current issues about mining bitcoins , I think there are already some chips created to lower energy consumption while preserving power given I think that makes miner more efficient

 

[AudraMiller]

not only that they could also use the funds for further maintenance, as with the current issues about mining bitcoins , I think there are already some chips created to lower energy consumption while preserving power given I think that makes miner more efficient

This is quite interesting. I have not read anything about the chips that have been invented, however i have seen that some of the modern graphics cards for gaming is being designed to encompass mining activities as well.

 

[microunit]

This is quite interesting. I have not read anything about the chips that have been invented, however i have seen that some of the modern graphics cards for gaming is being designed to encompass mining activities as well.

Yeah I've read about that news too, that gaming graphics card are now being designed with miners in mind too, I think their have been an influx of miners buying these gaming graphics cards probably the reason why

 

[AudraMiller]

Yeah I've read about that news too, that gaming graphics card are now being designed with miners in mind too, I think their have been an influx of miners buying these gaming graphics cards probably the reason why

This is likely the case. I believe that moving forward, as you get laptops that are specifically deemed to be gaming laptops, that ultimately you will have laptops and devices that are specifically designed for effective mining of crypto.

 

[Wisdom01]

Bitcoin price have been really falling a lot ,I guess there are high hopes that there would be recovery soon , the mininers are actually withdrawing off their Bitcoin as any price now ,and we could see the effect on the price as at this moment , hope the price is able to recover

 

[ELSA-ELI]

We just hope it recovers, I do not know either why people seem not to have all that much confidence in cryptocurrency investment. The uncertainities have made people either to hold or withdraw hence causing a decrease in the trading volumes and in turn the supply and demand.

 

[AudraMiller]

Bitcoin price have been really falling a lot ,I guess there are high hopes that there would be recovery soon , the mininers are actually withdrawing off their Bitcoin as any price now ,and we could see the effect on the price as at this moment , hope the price is able to recover

I think that when it comes to the price of crypto and bitcoin in specific it could be as a result of the economic crisis that happens around the world right now and there is a lot of countries that are still trying to recover from this. However, i think that when the next halving event comes around there will be a massive rise in the value of the coin.

 

[Wisdom01]

I think that when it comes to the price of crypto and bitcoin in specific it could be as a result of the economic crisis that happens around the world right now and there is a lot of countries that are still trying to recover from this. However, i think that when the next halving event comes around there will be a massive rise in the value of the coin.

it's the halving date I am actually waiting for ,once the halving date comes it would be really easyb to see Bitcoin increase so well , because then we have seen in history ,that Bitcoin have always had that increase during halving period and we have all seen the reoccurrence of it plenty times

 

[AudraMiller]

it's the halving date I am actually waiting for ,once the halving date comes it would be really easyb to see Bitcoin increase so well , because then we have seen in history ,that Bitcoin have always had that increase during halving period and we have all seen the reoccurrence of it plenty times

I think that right now is the perfect time in order to try and purchase bitcoin and various other cryptocurrency coins that are also approaching this event because it will certainly help in terms of investment value and also you will be able to make a relatively quick profit in a short period of time.

 

[Wisdom01]

I think that right now is the perfect time in order to try and purchase bitcoin and various other cryptocurrency coins that are also approaching this event because it will certainly help in terms of investment value and also you will be able to make a relatively quick profit in a short period of time.

if it's for short term I can invest mow , because Bitcoin would probably reach $28k soon ,but if it's actually for long term then I am actually holding when it's halving time ,so that the profit I would be able to make then would be really huge , because I know Bitcoin boost well during that period

 

[Josemendez]

Once there is the continuous selling of Bitcoin by the miners, it usually leads to a huge drop in the price of bitcoin. One of the reasons why they are comfortable selling their mined bitcoin is the fact that Bitcoin is a proof of work coin, less they will likely suffer from security breaches if it were to be a proof of stake token.
Sometimes other investors dump theirs if they sell miners dump

 

[Wisdom01]

Once there is the continuous selling of Bitcoin by the miners, it usually leads to a huge drop in the price of bitcoin. One of the reasons why they are comfortable selling their mined bitcoin is the fact that Bitcoin is a proof of work coin, less they will likely suffer from security breaches if it were to be a proof of stake token.
Sometimes other investors dump theirs if they sell miners dump

most times it's for some miners not to panic sell , because if most times they sell off their mined Bitcoin at an inconvenient price it might actually denote loss to them , because of the cost they actually use in mining and others ,it's actually one reason the miners must actually continue to hold to earn from more boost

 

[Niftyicon]

most times it's for some miners not to panic sell , because if most times they sell off their mined Bitcoin at an inconvenient price it might actually denote loss to them , because of the cost they actually use in mining and others ,it's actually one reason the miners must actually continue to hold to earn from more boost

I really do not understand the idea of Miners holding on to their Bitcoin because I would think that since mining is an activity that is continuous, selling shouldn't be an issue. A miner who holds on to his coin should do so because he is also an investor not because of the pricing of the coin at the time of mining.

 

[Wisdom01]

I really do not understand the idea of Miners holding on to their Bitcoin because I would think that since mining is an activity that is continuous, selling shouldn't be an issue. A miner who holds on to his coin should do so because he is also an investor not because of the pricing of the coin at the time of mining.

well miners actually have different reason for doing so ,like for instance they hold Bitcoin for some reason and others , probably they have seen that if they hold at the dip period ,then after the price increase they would make more profit at the end of the day

 

[fiery phoenix]

If the selling of just 5000BTC can cause the market to plunge by 15% then it means the miners have a great effect on the price of bitcoin and what more of 10k or 50k.These selloffs will always plunge the markets and the worst part is that these miners will be selling this bitcoin to whales,not ordinary investors and every time a whale sells bitcoin its a huge amount

 

[BullyMaguire]

I think it was because they are expecting the fall of prices.. which if we think about it. Their timing is just right and they have sold at a better price than if they waited more time.. it's natural that they sold eventually after all the expenses of mining bitcoin is quite due to electricity.

 

[gammarays]

It wouldn't be fair to blame the fall in value to miners alone. Remember acted because of the sell off. You wouldn't want them to hold when the price is crashing. Every business which includes mining looks for profits at all cost. Any Bitcoin mined during this period can be held because the price is down already. One can sell if there's a strong conviction that price will go down and buy more to gain more BTC. Some will prefer to hold for long term to gain more value.