Post
Topic
Board Economics
Re: The Fallacy of Mining Cost and Bitcoin Price
by
Teej
on 26/06/2011, 17:32:56 UTC
Let me put it this way.

In the past 17.5 hours, there's been approximately (17.5 * 50 * 6)= 5250 new bitcoins produced.

The total number changing hands on the open markets (as represented by bitcoincharts) is less than half of that.

Therefore, at least for this 17.5 hour sample of time, difficulty hasn't mattered in the least.