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This is just a lie. Coindesk is the worst media in the world. They can't calculate correct price of mining because it's more complex and enerrgy costs are diff
by kingleopold 6mo ago
This is just a lie. Coindesk is the worst media in the world.
They can't calculate correct price of mining because it's more complex and enerrgy costs are different in so many regions and inside the electiric producers etc. !
- mathgeek 6mo agoIt’s not a lie, nor a damn lie. It’s statistics!
- littlecranky67 6mo agoExactly: "The average production cost was sitting at $88,000 per bitcoin in mid-March". Emphasis on average. Just as in a free market, those miners with higher mining costs are priced out of the market. Or are pressured to become more efficient. Those that are below-average probably already are efficient.
- hackernudes 6mo agoYou left off the critically important part of the quote, IMO... > ... according to Checkonchain's difficulty regression model It's a guess based on oil costs (as a proxy for energy costs). Personally I think it is completely worthless.