Fishnoodle comments on Bitcoin miners are losing $19,000 on every BTC produced as difficulty drops 7.8%

[–] Fishnoodle@lemmy.world 36 points 6 months ago (20 children)

Ummm, wait what. It costs 88k to mine a bit coin?

So then Bitcoin mining only makes sense if you also heavily invest in the energy company you're paying, and even then, it's just a modified human centipede transaction

permalink

fedilink

source

hideshow 20 child comments

[–] thisisonlyatest@midwest.social 7 points 6 months ago

Between this and the AI bubble, there has been a tremendous flight of capital from the middle and lower classes to the parasite class.

And you're dead on with the human centipede corollary - once money enters the vortex it stays there until it gets excreted in some unholy fashion. Like private armies and rape islands.