I've long believed Bitcoin is impossible to "kill" but a possibility that didn't occur to me is mining a bitcoin block could start to cost more than one acquires from mining a bitcoin block. And the compute cost of making a block *does* increase w/ time.
This *seems* to show the lines crossed, but 2 questions I have:
- If the number of miners participating decreases, does the cost of mining one Bitcoin decrease?
- How much does earn get in "tips" while spending that $87,000 to mine one Bitcoin?
RE: https://eldritch.cafe/@SallyStrange/116021134304260147
LOL:
"the average cost to mine one Bitcoin is currently around $87,000 — far higher than its current going rate” of $67,000.
#bitcoin #crypto
note10me…4yg7