Replying to Avatar mcneb10

Question for #bitcoin, what will happen when ASIC mining becomes unprofitable?

Due to the SHA256 PoW of Bitcoin, ASICs were designed to mine Bitcoin more efficiently and now control basically 100% of the hashrate. I’ve calculated that due to recent halvings ASICs will soon no longer be able to break even and stay profitable.

What will happen to Bitcoin’s value after all the miners bail? Am I missing something?

#asknostr
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Ajax 1y ago

Yep the difficulty adjusts downwards until enough profitable miners come back into the network. In theory you can mine using a pencil and paper!

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