2 ms·
It's much simpler than that. If the price of BTC goes up, it's worth spending more on electricity to mine it. If 1 coin costs $50,000, and you already own the
by rjmunro 5y ago
It's much simpler than that. If the price of BTC goes up, it's worth spending more on electricity to mine it.
If 1 coin costs $50,000, and you already own the rig, it's worth spending $49,999 on electricity to mine the next coin and you will make a profit. If you're rig can't do that, you're better off just turning it off.
- 0x0 5y agoSure, but if the BTC prices rise enough then it is in every transaction recipient's benefit that the network is mining even if there aren't any new coins minted, to avoid a "51% attack" / double spend attack.