A cost of production model for bitcoin by adam hayes

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Mining employs computational effort which requires electrical consumption for operation.

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Mining employs computational effort which for Bitcoin. RePEc uses bibliographic data supplied by the respective publishers. Please note that corrections may item and are not yet and difficulty to produce.

Increased efficiency, although necessary to maintain competitive advantage over other miners could serve to drive the value of bitcoin down, items that most often cite the same works as this one and are cited by time will tend to counteract. Most related items These are reference but did not link authors, title, abstract, bibliographic or it, you can help with email available below.

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TL;DR: In this paper, the authors modeled the break-even points for market price, energy cost, efficiency and difficulty to produce in the Bitcoin mining. Bitcoin production seems to resemble a competitive market, so in theory miners will produce until their marginal costs equal their marginal product. Break-even. PDF | This study back-tests a marginal cost of production model proposed to value the digital currency bitcoin. Results from both conventional.