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You have two things very wrong here. First, you are ignoring that difficulty adjustments can happen downward too. Second, you flipped the actually dynamic - t
by CyberDildonics 5y ago
You have two things very wrong here.
First, you are ignoring that difficulty adjustments can happen downward too.
Second, you flipped the actually dynamic - the price swings dictate how much mining ends up being profitable, not the other way around.
You might have also confused the difficulty adjustments with the reward decreasing over time.
- dataangel 5y agoNo I meant difficulty adjustment and I know they can also adjust now. What's being missed here is that price go up because of buyer AND seller behavior. The dynamic goes both ways. If there is a demand increase, price goes up, so miners mine more. But if costs for miners go up, they won't sell for less than their costs, so that also causes the price to go up.