As a comparison, let’s look at #Gold: 2017 full year production was 3,150 tons, which is daily output of 8,630 kilos. At today’s prices, that’s $335 million daily. It means that the #GoldMining industry is spending less than that to bring $335m of new gold to the market everyday.

August 26, 2018 at 07:46AM
@bobbyclee

#BitcoinMining industry is at just $12 million/day, compared to $335m/day for #GoldMining industry. I predict #hashpower will continue to grow for #Bitcoin with daily $ numbers increasing. Once global daily output reaches $54m in 2+ years, that would give $BTC a price of $60,000.

August 26, 2018 at 07:54AM
@bobbyclee

#BitcoinMining industry is at just $12 million/day, compared to $335m/day for #GoldMining industry. I predict #hashpower will continue to grow for #Bitcoin with daily $ numbers increasing. Once global daily output reaches $54m in 2+ years, that would give $BTC a price of $60,000.

August 26, 2018 at 08:04AM
@bobbyclee

RT @bobbyclee: #BitcoinMining industry is at just $12 million/day, compared to $335m/day for #GoldMining industry. I predict #hashpower will continue to grow for #Bitcoin with daily $ numbers increasing. Once global daily output reaches $54m in 2+ years, that would give $BTC a price of $60,000.

August 26, 2018 at 08:04AM
@bobbyclee