Bitcoin’s difficulty adjustment rises 9.26%, the second largest increase this year. Hash price heads for new lows as miners’ profitability is squeezed as hash rate rises amidst public miner expansion.
"bitcoin has a production cost that is programmatically rising. "
That framing is incorrect and risks validating criticism that "bitcoin is designed to be inefficient."
Bitcoin isn't raising the production cost, miner competition for a share of the fixed issuance is. That difference needs to be identified in order to focus on regulating mining, not bitcoin.
"bitcoin has a production cost that is programmatically rising. "
That framing is incorrect and risks validating criticism that "bitcoin is designed to be inefficient."
Bitcoin isn't raising the production cost, miner competition for a share of the fixed issuance is. That difference needs to be identified in order to focus on regulating mining, not bitcoin.
It was a useful article
When the long-term asymmetry kicks in, I am going to use my BTC profits to buy the worlds largest burrito.