Re:Bitcoin Blows Past $9,000
by wz1000 on Sunday November 26, 2017 @05:19PM
(#15783388)
The cost of mining bitcoin is dependent on the value, not the other way around. This is because the rate of creation of bitcoin is essentially fixed. If the price rises, mining becomes more profitable, so more resources go into mining, but the difficulty also increases. So the same amount of bitcoins will be created, but the energy cost of mining a bitcoin will increase proportionally with the price.
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