Jake Ryan
1 min readNov 17, 2017

--

Hmm interesting …. I would say bitcoin mining is a little different than gold mining in that the difficulty to mine is dynamic vs. static for gold mining. Gold mining over the millennia, no matter how much technology we throw at the problem, stays roughly the same in terms of cost (human capital + technology). Bitcoin mining changes the difficulty of mining every 2 weeks based on the supply and demand of the miners and their computing power. If a bunch of bitcoin miners leave the system, then over time the difficulty of the hash rate and mining decreases. So, I would say it doesn’t exactly replicate the world of gold mining. Based on that, do you still think it might be possible? I’ll have to think about that a little more…

--

--

Jake Ryan
Jake Ryan

Written by Jake Ryan

CIO at Tradecraft Capital & Author of CRYPTO DECRYPTED & Crypto Investing in the Age of Autonomy, published by Wiley

Responses (1)