most miners have calculated the rate for electricity to keep their rigs profitable and have automatic kill switches based on market prices. it's not exactly news that rigs are turning off right now
this post was submitted on 06 Feb 2026
59 points (98.4% liked)
World News
39228 readers
350 users here now
News from around the world!
Rules:
-
Please only post links to actual news sources, no tabloid sites, etc
-
No NSFW content
-
No hate speech, bigotry, propaganda, etc
founded 6 years ago
MODERATORS
damn it peaked at 125k last time.
Every time this happens I hope it's the final one, and so far every time I've been disappointed.
Bitcoin has an inbuilt mechanism to make it exponentially harder to mine. That means the labor value to mine it will keep growing and that sets an ever increasing minimum price floor on the currency.
Is this a sensible way of making a currency? Hell no. Does this mean that bitcoin invesment as an asset will continue to endure for more years? Yes.
The only thing that could feasibly crash the bitcoin market is if most bitcoin users and miners move to a more sensible crypto that is designed for transactions and not investment.
iirc, it's miners that process Bitcoin transactions, so if the miners all quit there's no infrastructure left to allow for the exchange of Bitcoins
Yeah but the miners will not all quit all of a sudden. If many quit but there are still enough left, the remainder will enjoy higher profits since they'll crack more blocks (iirc miners compete for blocks)
The crypto cult is still going hard, i am sure its gonna bounceback. Some people just hopelessly throw money at it lol
same
I think you might wanna get ready for more disappointment, say maybe two or three years from now
Quantum computing will eventually make specifically Bitcoin worthless. Eth at least gets upgrades, so it might survive.
Some people is saying that Quantum compunting is a hype too. But I am no expert.
Depends what you're ascribing to it.
Will it break encryption? Yes. That's been well understood since the 90's.
Will it help solve certain specific physics problems, including practical ones? Also yes.
Will it do literally anything else? Maybe, maybe not. Honestly, even calling it a "computer" is misleading unless you're an expert. For layman purposes it's more like an electron microscope or ultracentrifuge. Very useful for a very narrow set of tasks.
I know about Shor and Grover algorithms and database search. My doubts are about the availability of scalable implementations of Quantum compunting.
Ah. Yeah, that's not a sure thing, but progress has been very, very encouraging lately, and there's no obvious fundamental limit, either. Progress on the error correcting codes has even happened, which was unexpected when the big push to build a QC began.
(FWIW, Grover's search algorithm is more of a toy than anything. You're getting a quadratic speedup on exponentially hard problems, which leaves them still exponentially hard)
Yessss. Just get more ddr4 and GPUs onto the market.
Sadly? bitcoin miners are using ASICs and other cryptos are using proof of stake so don't get your hopes up.
Nature is healing
these posts always make me laugh and feel good and want to check in/snoop on some past acquaintances, or at least check the obits.
Cryptocurrencies have various use cases:
- moving money from and to sanctioned countries, like Belarus, Iran, North Korea, Russia
- paying for criminal activities, like hitmen, organs, drugs
- scams
In most cases, they do more harm than good.
- This is a great and important use case. Fuck sanctions
- As yes, fuck everyone (like me) that isn't allowed to get medicine from above board channels (this 1000 times more common than silly things like paying for hitmen or organs. If you are buying hitmen or organs on the Internet 99% of the time it is fake)
load more comments
(5 replies)
paying for criminal activities, like hitmen, organs, drugs
Paying for criminal activities does not necessarily only include spy movie shenanigans. Lots os banned pharmaceuticals are sold through crypto, including abortion pills and HRT hormones. I doubt we're ever going to agree on sanctions, but hopefully we can still find a middle ground on people getting access to necessary pharmaceuticals in countries that ban them, even if it is a crime.
Though to be fair most of that is done on more stable and cheaper currencies like Montero.
load more comments
(2 replies)
Down 44% last 6MTH, i want to see triple digits please!
finally!
view more: next ›