Bitcoin, production cost greater than their value

Bitcoin, production cost greater than their value. However, an analysis by JP Morgan Chase opens up interesting developments ...

Bitcoin, production cost greater than their value - bitcoin cost

It costs more money for make bitcoin how much cryptocurrency is worth. According to an analysis by JP Morgan Chase, in fact, to produce a single bitcoin now costs on average 4060 dollars, but its value is less than 3500 dollars.

Recall that the network Bitcoin relies on its own users to process transactions. In other words, the computers connected to the network contribute to solving complex mathematical operations and, those who collaborate, are rewarded with a bit of bitcoin that compensates for the energy spent.

However, the purchase and execution of these calculations is increasingly expensive. And as more and more people have joined the network, mathematical "puzzles" have become more difficult over time, requiring more computer power. It is estimated that the bitcoin network use the same energy today as Ireland.

The whole thing wasn't a big deal when the bitcoin value it was flying at full speed. However, Bitcoin's price has plummeted in the past few months from a high of nearly $ 20.000 in 2017. The result is that transaction processing is no longer profitable. However, according to a good part of analysts, this should be a positive aspect: many users will withdraw from the network, making it easier and economically sustainable again. It will be like this?