so imagine if instead of say gold mining which costs about $900/ounce of labour, diesel, sluice machines, loader tricks and diggers..
where market rates are about 1.5x speculative bubble factor of underlying cost(value)
where gold have only ever reached a 2x factor in the last couple decades
imagine if gold could be mined in someones back yard for just $1 an ounce.. using a spoon and coffee filter paper
do you think gold would remain at a market rate of speculation of $1700
well
Ethereum just changed its mining underlying costs
https://i.imgur.com/tIwxtCH.pngfrom over $940 to under $35
i will let you discuss how much of a X multiple 'speculation bubble factor'. the market should remain at
enjoy the thoughts..
oh slight hint.. expect ethereum price to continue to decline until it corrects to a good value new low
The issuance changed too, it dropped by ~88%. Doesn't that mitigate the decrease in cost of validating a block?
