It’s one thing for a hacker to attack your home computer, but it’s another when a hacker tries to attack tens of thousands of computers around the world at the same time.
Those who extract oil from the ground must sell it at a cost greater than the cost of extraction, those who produce electricity must sell it at a cost greater than the cost of production, and so on.
In the first months of 2010, Bitcoin paid miners about $10,000 per month.
The figure is enormous, even if partially commensurate with the consumption of electricity, but it allows us to understand the generation of wealth that this “social experiment” is able to create.
As we can see, the dollar remuneration of the hash rate is in sharp decline.
For a better understanding, while the remuneration for each block grows — despite or thanks to the halving that increases scarcity — the difficulty of undermining a new block increases much more quickly, at least for now.
To estimate the Bitcoin price, corrected according to this hash rate metric, it is necessary to divide this value by the average number of Bitcoin that is mined in a given month.
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