Federal Reserve Report Claims BTC Might Be Worth 1800 USD
I just found this article:
https://sg.finance.yahoo.com/news/bitcoin-price-hypotehtical-value-1-000006888.html?guccounter=1
In this report from the Federal Reserve Bank of San Francisco released on the 18th of May Joost van der Burgt author of the publication claims that Bitcoin might have a value of 1800 USD because that's how much the mining costs are.
Now I got a question for him: How much is a 100 USD bill really worth, given the costs of paper and ink???
You might like @marketreport.
Exactly. Maybe its worth the gold reserve that backs it up. Ha ha
Also if I could mine a bitcoin for $1800. I would quite my day job and invest as much money as I could round up into miners. That number is ridiculous.
Yeah, it's pretty crazy. Something tells me that if it really 'only' costs 1800 USD to mine 1 BTC, there would be way more miners. And so the cost would automatically move closer to the value on the exchanges.