Not sure I'm following you... miners sell as much as they need to cover costs, lets say that is 6btc per block.
Now the reward is 3.125, so naturally they would need to haggle harder to survive, they will request more from those that pay them in order to stay in business, some fail, supply falls and the typical buyers find themselves competing to buy from miners so the price goes up.
But right now, fees are high. This means that where a miner might get ~7btc per block, they now get ~10btc per block. They can continue to sell at the same price and remain competitive in the market and still save money for later too.
Eventually they'll start getting maybe ~4btc per block and they'll start using their reserves to remain competitive, then finally the crunch and the market as a whole realises that the value of bitcoin needs to go up to sustain mining and so it does.
Big Barry Bitcoin
npub1pk…tpxa6
2024-04-28 13:11:27
in reply to nevent1q…tmrj
Author Public Key
npub1pktmatjk0l8vn3jhfuwxaasjd65kn4ye9sce3egup7k993f8fg2q5tpxa6Published at
2024-04-28 13:11:27Event JSON
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