How exactly does increased demand for energy (which mining Bitcoin requires) lead to lower prices? That runs counter to basic Economics. While increased demand may incentivize new supply … it will never lower prices. Perhaps you could point to any other market in the history of the planet where an increase in demand led to lower prices.
Secondly, you claim miners generate 40 cents per KWH - which currently costs about 13 cents. When the halving gets here in April, that 40 cents will become 20 cents. What do you suppose happens when the dollars generated by miners per KWH inevitably falls below the market price of electricity?
How exactly does increased demand for energy (which mining Bitcoin requires) lead to lower prices? That runs counter to basic Economics. While increased demand may incentivize new supply … it will never lower prices. Perhaps you could point to any other market in the history of the planet where an increase in demand led to lower prices.
Secondly, you claim miners generate 40 cents per KWH - which currently costs about 13 cents. When the halving gets here in April, that 40 cents will become 20 cents. What do you suppose happens when the dollars generated by miners per KWH inevitably falls below the market price of electricity?
I’m not trolling, I’m genuinely curious ….
https://bagholder.substack.com/p/is-it-bitcoin-or-bit-con