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lol “mining one bitcoin takes 7 years”

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Jopie

3,281 Posts.

1067

26/03/24

18:07

Post #: 73069109
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Originally posted by 1OldGreyFart: ↑

the average global cost atm is about 40k to mine 1 bitcoin which can take up to 7 years. And that's the power cost. Of course there are many countries that have very cheap power and most of the miners gravitate towards those countries, but there are risks with doing that, the same sort of geopolitical risks that elemental miners are faced with. If your investing in crypto for the long term these calculations will be even more important to you as will the halving events every 4 years. Scarcity doesn't set the value on its own. Bitcoin will need to have utility as well. In the future it may, but for now it's utility is limited IMO.

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“mining one bitcoin takes 7 years”

HCH Price at posting: $1.10 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $1.05		Change -0.005(0.48%)		Mkt cap ! $150.8M

Open	High	Low	Value	Volume
$1.06	$1.06	$1.05	$160.8K	153.1K

Buyers (Bids)

No.	Vol.	Price($)
3	38725	$1.05

Sellers (Offers)

Price($)	Vol.	No.
$1.05	75882	17

View Market Depth

No.	Vol.	Price($)
3	38725	1.045
7	77611	1.040
6	14727	1.035
10	75315	1.030
5	28350	1.025

Price($)	Vol.	No.
1.050	75882	17
1.055	12799	1
1.060	12500	2
1.065	10736	1
1.070	20746	3

Last trade - 12.53pm 13/05/2024 (20 minute delay)


Last $1.05			Change -0.005 ( 0.47 %)
Open	High		Low	Volume
$1.06	$1.06		$1.05	14037
Last updated 12.26pm 13/05/2024 ?

HCH (ASX) Chart

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