2025-12-28 11:22:38

A common misconception about Bitcoin miner shutdown prices needs to be clarified: a miner's shutdown price is never the lower bound of Bitcoin's price.

Many people imagine miners as the controllers of the price, as if simply keeping the mining machines running can support the coin's price. In reality, it's quite the opposite. Miners play a passive role in the market—they are price followers, not determinants.

What happens when the market price falls below the shutdown price? Miners either choose to shut down to cut losses or continue operating until their capital runs out. Neither choice can change the trading price of Bitcoin in the market. The price is determined by supply and demand, not by the cost of a particular production stage.

What miners can do is adjust their level of participation—adding or reducing hash power, turning mining machines on or off—to adapt to market realities. They are subject to the influence of the price, not the other way around. This logic applies to any commodity market.

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GasWastingMaximalist

· 9h ago

Coming back with this again? I've already said that miners are not saviors; the rise and fall of the coin price isn't that closely related to them. Honestly, many people still mythologize miners, which is really funny. Passive acceptance of market dominance—that's the reality, everyone.

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zkNoob

· 9h ago

Miners can't really control the price of the coin. To put it simply, they're passive victims. --- The logic is actually very simple: does cost determine price? Dream on, it's all about supply and demand. --- Shutdown price is just a cover-up; the real bottom line depends on market sentiment. --- Thinking about it... miners are actually just like us, all being controlled by the market daddy. --- So all those analyses claiming miners support the market are nonsense. --- Even if the shutdown price is broken, miners have no way out. That's called fate. --- Whether the price goes up or down doesn't really depend on miners' faces. Such a simple thing is misunderstood by some. --- Miner: "I'm not the master of the price; I'm a slave to the market." --- That's right, but the problem is retail investors are even worse haha.

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GateUser-e51e87c7

· 10h ago

So, miners are actually just workers beaten by the market, with little say or power.

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gas_fee_therapy

· 10h ago

The theory of the shutdown price lower limit has really been overhyped; miners are actually just the group being beaten by the market. To put it simply, miners can't really control the coin price. This logic holds true in traditional commodity markets as well. It's not like miners can just turn off or turn on the network at will; they have to bow to market supply and demand. I just want to ask those still promoting the shutdown price lower limit theory: do you really believe it, or are you just looking for psychological comfort? Miner hash rate adjustments are just forced to adapt; they don't actively control the pricing power. Too many people are overcomplicating things. When the coin price drops and miners shut down, continuing to run won't change much. Is this really hard to understand?

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OnchainSniper

· 10h ago

Here we go again, brainwashing. Miners are just price followers. --- Well said. To put it plainly, miners are just being squeezed by the market daddy. --- The logic isn't wrong, but people in the crypto circle love to fantasize that miners can save the market haha. --- Wait, wouldn't a large-scale shutdown of miners affect the supply side? --- Finally, someone dares to tell the truth. Miners don't have that much power at all. --- The trash media keeps hyping the miner bottom theory, which is truly misleading. --- Exactly, the market decides everything; miners can only save themselves. --- Got it. Miners are just lambs to the slaughter. I've balanced my mindset. --- The supply side can't influence prices, but that's an overly absolute statement. --- Price followership is just a thing, nothing special. --- The main premise is valid, but the actual game is much more complex. --- Suddenly, I feel a bit sympathetic to miners. Truly helpless. --- It sounds like microeconomics, and what they say isn't wrong.

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