3 ms·
Bitcoin mining effort is proportional to the cost per bitcoin times the number of bitcoins awarded per block. Since the number per block is constant over each f
by DennisP 6y ago
Bitcoin mining effort is proportional to the cost per bitcoin times the number of bitcoins awarded per block. Since the number per block is constant over each four-year period, it makes sense to talk about the cost per $1 of BTC.
- kryogen1c 6y agoBTC proof of work doesnt determine the BTC/$ conversion. the price is non-scientific, highly speculative, and highly volatile.
- DennisP 6y agoThe causation works in the other direction, due to the difficulty adjustment.
- kryogen1c 6y agoBTC/USD exchange rates are at best correlated with mining difficulty and 100% not causally related. this is patently false.
- ufo 6y agoThat's the reason why the paper is focusing on damages per dollar of mined bitcoin, instead of damages per mined bitcoin.