Post
Topic
Board Bitcoin Discussion
Re: Bitcoin bubble
by
Kwothe117
on 23/11/2017, 07:54:42 UTC
The tricky part is that Bitcoin has no inherent value of its own other than the cost of the power to mine it. People are excited at Blockchain technology and it's potential so they are associating a lot of value to it. The truth is the cost of the power required to mine a single bitcoin (according to my very rough calculations) is 1000USD to 2000USD. As you can tell from current prices, it is FAR beyond that. So yeah, BTC should come down eventually either by a "pop" or by an increasing cost of mining/processing transactions.