Well, I think this is a solid myth. And I'm not going to go on and on and on like most financial blogs you see today; volume does not equal value.
Here is the rub, as I see it:
- According to BitFarms (BITF), their breakeven cost of mining one bitcoin is US$2,259.
- Today, one Bitcoin is worth US$7,785.
- At one point in 2018 it was worth nearly $20,000.
- Revenue per terahash (a measure of computing speed) has fallen from $4.00 two years ago to about $0.13. That speed requires expensive hardware and electricity.
Your Constructive Comments are Welcome!