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Well we are seeing miners choose more costly energy now with this investment in TX mining. The pressure of society will continue to push it greener IMO.
You presume it will become half as profitable, but mining is self regulating, difficulty adjusts about every two weeks up or down. If it becomes unprofitable and miners stop working it adjusts until it is profitable again automatically, talk about capitalism at work! It finds the equilibrium always, automatically, without fail. Another reason why it could never go away IMO. Has mining ever in the past become half as profitable? Seems like it has only gottne MORE profitable.
I agree though that a lot of speculators are in the market, I am happy to see the dip liquidate so much leverage, its healthier now. I don't think its even close to 99% though.
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