SLP478 Debunking Digiconomist on Bitcoin Mining with Ben Gagnon
Stephan Livera Podcast
00:00
How to Calculate Bitcoin Mining Revenue
Digiconomist's model of mining profitability is based on a flawed assumption that 60% of all costs are fixed for all scenarios. That really fell apart during the 2021 China mining ban, where we had the largest changes in network variables that we've ever seen in the network ever. What miners are actually doing is taking older, less profitable rigs and installing newer, more productive ones.
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