The production cost of 1 bitcoin is roughly equivalent to the cost of mining 1 bitcoin.
But miners do not inflate the price. They simply mine them because it is profitable to do so.
But why is it profitable?
Supply and demand bitches. The reason why the price goes up is
A) hype
B) to some extent people's "trust" and "belief" in crypto.
So now that the hype is dead, we are finally going to see what bitcoin's "real" value is.
Other urls found in this thread:
acceptbitcoin.cash
cryptonize.it
youtube.com
twitter.com
If anyone sees any flaws in my reasoning I'd be happy to hear it.
what a fucking waste kys
Nice self-portrait. 10/10
Non-retarded contributions only please.
kys
>oh no not muh imaginary digits
still nothing but retards on this board i see
Would you mind explaining what in your mind exactly is production cost?
nice digits. some people like me get free electricity so the cost to produce a bitcoin is zero. I can dump bitcoin bags at $1 and still be profitable. hope u faggots are ready for $1 bitcoin
Whatever it costs to produce it. Electricity mostly + some equipment.
How's that different to mining cost? To quote you - "The production cost of 1 bitcoin is roughly equivalent to the cost of mining 1 bitcoin"
It's not. I just rephrased it.
You also got your mining rig for free I assume
So, what exactly were you trying to say? Cause that "rephrase" makes no sense whatosever
Cost to produce increases with adoption and decreases with repudiation. So it's hard tell what the real value is.
It might even fall to cents per btc.
cost to produce = everything involved getting your setup + maintenance + mining
cost to mine = just the cost once you actually begin mining, possibly just electricity
I would think that's how it should go
my point exactly.
what drives these changes? it's the hype (now dead) and the raw in crypto
spot on
raw trust*
Nice digits fren. We're all gonna make it fren
None. I have been predicting this for quite a while and I think that there is going to be an even more major crash that will slow down the network and cause a difficulty collapse too. We are almost at the breakeven point.
Yes we are. Bitcoin is going to 100k EOY.
I thought intelligent people left Jow Forums long ago.
Op, Google sunk cost.
There is nothing holding a floor at production cost.
This, there is no 'true' bottom. As price falls, many miners leave making it more profitable for the rest. BTC could drop to $100 and it would still be profitable for some mining operations
the real answer is C) usage to buy stuff. something that BTC is getting less and less of and BCH is getting more and more of.
really? what can you buy with BCH
well, no. this is just idiotic
most online merchants accept bitcoin and dont give a shit about some lame "cash" variant of it.
a lot: acceptbitcoin.cash
actually anything if you use these guys:
cryptonize.it
>Implying tons of merchants haven't dropped support for bitcoin
>Choose the products you want to purchase with a maximum total of 250USD/EUR.
Once the SEC steps in and the shitcoins get classified as unregistered securities (they are), the real value of BTC show its true price. watch the CNBC interview with the SEC chairman if your have no clue what i am talkin about
The SEC can regulate whatever they want. Asia will give a fuck about it.
Thailand has given till mid august for registration of securities....
They haven't.
ok fine, not everything then. just most everything.