The Economics of Bitcoin Mining
After 4 and a half years, the Bitcoin network hashrate reached 1 petahashes/second. Two weeks later it was 2 petahashes. A week later, 3.
From CPUs to GPUs to ASICs, Bitcoin mining has exploded, enriching many and endlessly raising electricity bills. This explosion gives economists a way to see the interplay of production, supply, and demand in action. Even still, many fallacies cloud people’s understanding of the mining market.
Join the Mises Circle to discuss the ins and outs of Bitcoin mining, answering lingering questions about its purpose and how it works and exploring how the market is endlessly changing.
When: Monday, November 4th at 7pm CDT
Where: Garrison 2.112
Can’t join us in person? Tune in to the Google+ Hangout.
The Mises Circle is proceeding ever more boldly and electronically. Help us maintain our online presence, through our website and audio/visuals, by donating Bitcoin today.