BTCMeansFreedom4All on Nostr: The cost to mine new coins will easily exceed $150k this year, probably going to ...
The cost to mine new coins will easily exceed $150k this year, probably going to $200k+ TBH.
2017 mining cost went from $1k to 3k over the year, cycle top was 6x it's mining cost of $3k.
2021 cycle top was significantly reduced, due primarily to the mining ban cutting mining costs in half, but even that cycle the top was 3x the mining cost of $22k at the time.
Assuming we repeat 2017's pattern, we're starting the year at $90k mining cost so it may reach $250k+ by the peak and market price may reach 6x that amount before the crash. We may be looking at $1m+ this cycle before crashing below $200k a year later. We'll see though.
2017 mining cost went from $1k to 3k over the year, cycle top was 6x it's mining cost of $3k.
2021 cycle top was significantly reduced, due primarily to the mining ban cutting mining costs in half, but even that cycle the top was 3x the mining cost of $22k at the time.
Assuming we repeat 2017's pattern, we're starting the year at $90k mining cost so it may reach $250k+ by the peak and market price may reach 6x that amount before the crash. We may be looking at $1m+ this cycle before crashing below $200k a year later. We'll see though.