Over the past decade, the Bitcoin mining industry has grown rapidly, attracting the attention of countless investors and miners. However, as time went on, some worrying signs emerged. Within 11 years, Bitcoin mining will become too expensive to continue. This prospect has sparked much thought and discussion.

When discussing the soaring cost of Bitcoin mining, we first need to understand the reasons behind it. The mining process of Bitcoin requires a lot of computing power and electricity consumption. As the market value of Bitcoin fluctuates, the profit margin of mining is also constantly narrowing. This has led to rising mining costs, making mining increasingly uneconomical.

As Bitcoin prices continue to fluctuate, miners face huge challenges. They have to consider how to reduce mining costs to remain profitable. Some miners began to look for cheaper electricity resources and even considered switching to mining other digital currencies in search of better returns. However, this also brings a certain degree of uncertainty to the entire Bitcoin ecosystem.

In addition to cost issues, Bitcoin mining also faces increasingly severe environmental challenges. The massive investment in electricity consumption and computing resources has led to an increase in carbon emissions, exacerbating the problems of global warming and climate change. This has sounded the alarm for people to find more environmentally friendly and sustainable mining methods to reduce the negative impact on the environment.

In the next 11 years, the Bitcoin mining industry will face major changes and challenges. Miners need to continue to innovate and find more efficient and environmentally friendly mining methods to adapt to market changes. At the same time, regulatory agencies and government departments also need to strengthen supervision and promote the development of the Bitcoin mining industry in a more healthy and sustainable direction.

Overall, the soaring cost of Bitcoin mining is a complex issue that requires a concerted effort from all parties to resolve it. Only through cooperation and innovation can the sustainable development of the Bitcoin mining industry be achieved and lay a solid foundation for the future of the digital currency market. Let us look forward to future changes and development together, bringing new vitality and hope to this industry full of challenges and opportunities.

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A new discussion on Reddit has been heated up by a Reddit user who has given a new perspective on Bitcoin mining issues from a computer and blockchain expert.

The Reddit user known as "Illsellyoullbuy" caused a heated discussion on the platform by posting an opinion from his friend, who is "a computer engineer and blockchain expert", claiming that in In 11 years, Bitcoin mining will become too expensive to continue due to ongoing halvings and high electricity costs.

The "expert" said that miners will be forced to abandon their operations and that it will be impossible to issue new Bitcoins without miners.

“A computer engineer and blockchain expert friend of mine told me: Bitcoin is a failure in the sense that due to the mining reward halvings that occur every year, Bitcoin mining will eventually be too expensive to In mining, without miners, there will be no transaction verification, and there will be no transaction volume. Is this right?"

However, the community’s reaction cast doubt on the blockchain expert.

Some also believe that electricity prices will inevitably fall in the future as new technologies are developed to provide renewable energy to more and more people.

User humanasaurus:

Bitcoin is quantitatively limited because of its deflationary characteristics. Due to this point, Bitcoin prices will be higher in the long term, which makes up for the energy costs. But energy costs are actually falling because new technological advances are being made every day. Therefore, energy costs will be less and less of an issue in the future. Better oil and gas extraction technology, more efficient solar power, safe nuclear power plants, and even atomic fusion technology (under research) will all drive lower energy costs.

Once Bitcoin's 21 million limit is reached, miners will make money from transaction costs. By then, owning a single Bitcoin will be extremely rare. Looking back, Bitcoin used to be worth just $0.003, but now it’s $10,000. One day, when we see Bitcoin at $100,000, we will wish we had bought Bitcoin when it was $10,000. I tried and failed to buy Bitcoin when it was $400 and it still hurts me. Learn from my mistakes, buy, buy, buy and hold for the long term!”