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It does set a price floor for exactly the reasons you say: miners won't operate below a certain cost of mining. Setting a price floor.
by mywittyname 7y ago
It does set a price floor for exactly the reasons you say: miners won't operate below a certain cost of mining. Setting a price floor.
- AgentME 7y agoIf Bitcoin's price fell so it becomes unprofitable to mine, that will not cause Bitcoin's price to go up until it is profitable for miners. Instead, what will happen is that miners will drop out until mining becomes profitable for the remaining miners.