⚡️🔎 CHART - Bitcoin has never fallen below its electrical cost.
Today that floor is $71,000.
Discussion
From this chart, it looks like it did during Covid
Dead
Also: 1 BTC has never fallen below 1 BTC.
A note: electrical cost also gets down when bitcoin gets down, because difficulty decreases. So I'm not sure it is a valid metric to determine the floor.
Difficulty adjusts once every 2 weeks on average, so theoretically if the fiat price flash crashes 20% in a few days, it could easily drill through that floor.
All I know is that $58k is coming and my body is ready. 😏
It’s a beautiful day to be a miner 🫡🧡⛏️
Electrical cost where? Some miners use free throw-away power afaik.
I’m pretty sure it’s impossible to know the electrical cost
Where can I view this data live?
People need to talk about bitcoin's pricing mechanism. There should be the "paper bitcoin price" - extracted from centralized exchanges - and the "Bitcoin price" - extracted from P2P markets like Bisq.