Quote from: Ozero on Today at 06:21:55 PM

Quote from: Poker Player on October 23, 2021, 03:16:42 AM

Quote from: franky1 on October 23, 2021, 02:33:39 AM

bitcoin has a real cost of creation via the mining hardware. much like golds underlying cost is in gold mining costs.

because it costs $10's of thousands in electric/hardware to make just one bitcoin. (more precisely hundreds of thousands per 6.25 reward) that gives bitcoin a baseline value. which no one wants to sell below. thus giving bitcoin a good actual store of value.
yes there is the vapour/speculative/bubble premium ontop thats volatile. but thats the same with gold

What you have just explained has made me wonder about something. Do you think that the rise in electricity prices that is happening in many parts of the world, especially where it is being mined the most now like the US, is going to affect the price of Bitcoin? It should, I'd say, even though we are in a bull market I guess it is another factor that will push the price up.

In my opinion, @ franky1, describing the cost of mining bitcoin, which is supposedly equal to about $ 10,000, confused the cost of production of one bitcoin, with its cost, and more precisely with the price. The high cost of a product is its negative quality. In addition, it is precisely such high costs for its production that Swedish regulators have recently come out against, having approached the countries of the European Union with a proposal to prohibit the mining of energy-consuming cryptocurrency with the PoW algorithm as part of the fight against global climate change. It is quite possible that such a proposal will be supported by other states.

Lol the climate change scam again where prominet politicians fly 60km instead using a car or heaven forbid a bus for common people.
Has gold mining also been discussed or is it essential for survival to wear jewelry?
What about a quatzillion banks have heating and aircon on all year round.
I guess without car racing we have nothing to eat tomorrow.
And transporting bottled water from China to Europe or US must be done just so you have variate in supermarket.
Is it needed to fill the page with that political nonsens, or is it your entirely
Bitcoin halves every 4 years so a lot of miners have to shut down, uneconomic.