What is the marginal cost of mining Bitcoin, presently? I.e. the total cost of the least efficient miner generating coins. Shouldn't that set the minimum value of BTC?
Marginal cost is the cost incurred to produce an additional unit of a good. It changes with the level of production. It is estimated in order to produce equilibrium level of output at least cost. It clearly shows the additional cost on production of item.
Answer and Explanation: 1
The answer to this is quite simple. The bitcoin extraction is done through a process called bitcoin mining. The miner has to solve the algorithms to...
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fromChapter 3 / Lesson 12
What is marginal cost? Learn how to calculate marginal cost with the marginal cost formula. See the definition, behavior, and marginal cost examples.