Need Help Understanding.
BTC price is now below 110k at $108,909 whereas hashrate is very high at 1.122ZH/s.
Does that mean that more people are mining bitcoin despite the price drop?
If network difficulty increases then it gets more difficult to mine a block. Also if price drops, it cuts through your margins right?
I might be wrong but doesn't a high hashrate and low BTC price a recipe for a loss. (unless obviously you get ultra cheap energy)
Considering all this why are people still pouring in compute?
What's the thought process?
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from Bitcoin - The Currency of the Internet https://ift.tt/CLpcejb
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