Ngen Technologies Holdings Corp. (fka NGRP)

[andrius]

not predicting the end of crypto mining. Simply pointing regular crypto mining cycles that have been happening over and over. As prices drop when difficulty is high mining becomes unprofitable for most. Those that get free or super cheap electricity stay in the game. Everyone else is forced out and there is a consolidation period.

When I last mined in 2014 BTC prices dropped 80% while BTC earned per MH also dropped about 80%. Literally within few weeks, about a month actually mining revenue dropped over 95%. At my property in IL was getting very cheap electricity at 5.5c kw and was still losing money. It was cheaper to buy coins than to mine them. Had friends in CA that were paying 20-25c/kw and bought loads of gpus into hype. One of my friends even took his whole mining farm to TX to get cheaper electricity. Withing few months he was losing so much $ he pulled all his equipment and bounced his lease to cut losses. GPUs that were costing $600 were going for $150 within couple/few months.

Now I'd like you to explain to me why this won't happen again despite BTC historically doing this over and over again. Especially that Mt Gox coins will get released for sale at some point soon. Also Bulgarian government confiscated billions worth BTC from criminals. Think its enough to cover 1/4 of their countries debt lol You think they'll just hold them? What do you think 250,000 BTC sold in open market would do to price?