Bad Bitcoin
11/26/2018 |
After hitting almost $20,000 late last year, Bitcoin is now trading at about $3,500/coin. Worse, the amount of computing power used by Bitcoin miners to solve complex equations to earn payment in new Bitcoin, and in the process maintain the blockchain ledger, is declining. This suggests the Bitcoin price is nearing the cost of mining new Bitcoin. If the Bitcoin price falls much below the cost to mine, watch out.