A MarketWatch opinion piece published on Monday rekindled fears about a scenario where Bitcoin (BTC) crashes to zero due to miners throwing in the towel and leaving the network without computation. However, the crypto community came up with an explanation of why a complete network freeze is not likely.
Since 2013, Bitcoin mining has seen a race in adopting powerful ASIC machines. Mining continued to expand since building a mining farm in times of rising prices meant immediate profitability. Some miners sold for cash, while others relied on futures markets, and the constant speculation set off the costs of acquiring mining rigs, space, and a reliable source of electricity.
https://twitter.com/KryptykHex/status/1069742347926339585
But for the newest mines, those built in 2018, the cost of producing a Bitcoin through block rewards may be lower than the mark...
This article appeared first on Cryptovest
