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100 sats \ 1 reply \ @south_korea_ln 22 Sep \ on: Help me explain to a friend how Bitcoin price has hardly any impact on miners bitcoin_beginners
It doesn't?
A miner likely consistently needs to sell Bitcoin to pay for its electricity and hardware. So, I guess price has an impact on their profitability. Miners routinely turn off when the price dips below what makes sense for them to keep running.
And with the halving, price would have to go up, all other things equal (all other things don't remain equal, in reality), for the same miner to remain profitable with reduced rewards.
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0 sats \ 0 replies \ @DarthCoin 22 Sep
yeah miners are the first ones and the biggest whales selling BTC. We are talking about big miners, not Bitaxe solo miners.
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