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RE: 💰 Bitcoin Gold Future Looks Uncertain
Anyone math inclined could share the light on the mining difficulty level? Coz just looking at the future prices, Gold is unexpectedly low. Of course, I assume that some correlation to BTC, which seems likely.
Gold will be GPU intensive while bitcoin is ACIS so entirely different level of mining is going to happen with it. That being said mining difficultly does nothing in terms of the price its just how bad people want it mining wise. Rarely is there a case of profitable mining unless your electric is free.
Thank you for reply, I was just trying to establish parallels with bitCash, if I recall correctly futures were also trading around $300 prefork and then on fork there was repricing upwards. Of course it was on the back of mining pools support (which is a major unknown in Gold case), but if it is GPU intensive, that means that it is not deflationary (at the protocol level) (at the protocol level), which in turns means that the correlation to BTC should not weaken (in worst case) and (in best case) be strengthened leading to BTC gold upward price revaluation. Hence my assertion that the Gold at $300 might be "cheap".