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RE: Bitcoin Surges Back Above $8500 As Goldman Doubts Cryptocurrency Survival

in #crypocurrency7 years ago

Most simply don’t understand why Bitcoin is set to fail very soon. The reason is bitcoin is built on mining and as such the difficultly has grown so much that mining is about to loose its profitability… Bitcoin can not survive with out mining period… That is not an arguement it is the way it is.. The recent difficulty rates are growing at an alarming pace.. If you started cloud mining in 2017 you will never be profitable and will loose at least 50-70% of what you put in..China hold most of the Bitcoins because it has mined most of the bitcoin. when it can no longer mine to even make but a fraction of profit it will dump what it has or hold bitcoin hostage…