BITCOIN MINING IS A HUGE SCAM (MATHEMATICAL PROOF)

in #bitcoin7 years ago (edited)

After doing some consulting in Bitcoin mining with several clients and monitoring the payouts and the declining profitability of their operations in the last 3 months I found this scientific paper that proves that Bitcoin mining isn't profitable, regardless the variables that affects it.

Please check this graph that speaks by it's self

Screen Shot 2018-03-11 at 5.41.00 AM.png

The network difficulty is increasing exponentially and profits are decreasing inversely.

Thanks to Bitmain and their everlasting offer of new batches of mining hardware, that affects the payouts, it proves that it is a major scam.

Best case scenario, miners will only get their return in one year. :(

Please leave your opinion in your comments.

Sort:  

For future viewers: price of bitcoin at the moment of posting is 8641.00USD

Congratulations @ivanoff! You received a personal award!

1 Year on Steemit

Click here to view your Board

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @ivanoff! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!