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We all know that Halwings doubles the cost of production, a fact that the media is prepared as a threat to bitcoins every four years.
Miners seeking benefits should also struggle with difficulty and energy costs in ups and downs. But if the price increases, then at least they will get more money for every coin which they are mine.
At $ 88,500, the damage to bitcoin is 36% ahead. More importantly, it is 130% at the average price during the final stage of the former half cycle (more than double!)
As it goes, high prices attract more miners, which have brought the total hash rate of bitcoin to a higher level of all time along with difficulty.
In fact, while mining revenue is more or less to suit its five-year average, the difficulty is currently five times in April 2021, and 40% higher before the final command.
Therefore, it is more difficult to generate bitcoin than ever. But how much does 1 BTC cost now? It is always difficult to say, electricity and other overhead costs with answers, although currently Cambridge Estimate $ 48,671 per coin.
Let’s use marathon, as an example, $ 4 billion mining giants are responsible for about 7% of the total hash rate of bitcoin.
The mining revenue of the marathon was $ 224.95 million, according to its SEC filing.
The marathon mined in a total of 10,542 BTCs in the same period, which keeps the estimated cost of each coin production at less than $ 21,500. Bitcoin traded an average of $ 39,300 at the time, leading to a possible benefit of $ 17,800 per coin.
In the third and fourth quarters of the previous year, the estimated cost of production using the same method of marathon works at $ 43,270 – correctly and corresponding to Cambridge’s estimate – against the average trade value of $ 72,250. This suggests a potential advantage of approximately $ 29,000, which is more than before.
(Marathon CEO Fred Thiel Said In February that the direct energy cost of the marathon for the previous year was $ 28,801 per bitcoin, although before the cost of production is doubled, it would include in the last few ages. Marathon earned more than half a billion dollars in Q4 2024)
Bitcoin block subsidy is still quite attractive a year later and depending on marathon data, at least at the current prices for the bestly the best capitalized operations. Other miners can sometimes walk in a loss, are going Luxor’s Hasht IndexWhich indicates some of the lowest profitability on records. Undable, five hallwings have passed.
In any case, Bitcoin has three years left to double the price to combat the next one. A lot of time.
Money is speech
“I am sure that in 20 years there will be either a very large transaction volume or no quantity.”
Satoshi Said On Valentine’s Day in 2010 – 15 years ago a little.
It was an appendix for a comment about the requirement of transaction fee in a system that sees the block reward cut at zero over time. “In a few decades when the reward becomes too small, the transaction fee will become the main compensation for the nodes.”
So, how close is Satoshi to truth, less than five years of your imaginary?
Bitcoin processes more than 11.5 million transactions per month, converting to $ 1.8 trillion BTC on average, at least than 8 million in early 2022.
On the one hand, it can be “very large”, as Satoshi predicted, but more than 98% mining revenue still comes from block subsidy.
Some more helvings and current dynamics may no longer be tenable, so expect a debate over the fee market structure of bitcoin over time. For more information about the reasons for being worried, you can hear core developer James O’Br Today’s supply shock episode,
Rizo view, this day
You can hear the phrases “bitcoin bubble” these days, which is increasing more than $ 100,000 in prices. A look at media articles from the past, however, has not changed much.
On Reddit, I have posted this chart as a reminder of how long the trop has gone. In fact, the above chart Coin Center founder Posted by Jerry Brito14 years ago.
There he wrote how the technology was to live here even after the death of bitcoin. He was correct with a warning – the technique was bitcoin.
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