JPMorgan: the fair price of Bitcoin is $ 2,400. Why miners don't agree?
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Representatives of JPMorgan provoked the miners of cryptocurrencies, stating on «fair price» the first cryptocurrency . This estimate is presumably based on marginal cost . However, many do not agree that the coin price you need to estimate the cost of mining Bitcoins in China. As stated in the report, analysts of JPMorgan for the 4th quarter of 2018, «the average cost of a miner in China for the production of one BTC is $ 2400».
According to them, this is the break-even point and marginal cost of production of each . So, from prices in the $ 4,000 Bitcoin needs to lose 40 percent to be quoted at «fair price».
theWhat do people think about the miners?
However, as written by Bitcoinist, the miners do not consider it correct to apply the concept of marginal value to Bitcoin, as its structure is fundamentally different from other assets. Co-founder of the company-manufacturer of equipment for mining LuTech Ben Gagnon sure there can be no «average cost» or «breakeven». Subject to the limitations issue in 1800 BTC per day miner can count on a greater or smaller share of this remuneration. And in competition with other owners rigs.
…there will always be miners that complete blocks and get rewarded more than others because they use more energy efficient equipment with low cost electricity. If the price of Bitcoin will go down, and the costs of mining can also be reduced, because miners with less efficient equipment will begin to leave the market.
Perhaps JPMorgan is not quite like that at their disposal, the client deposits an amount that is 200 times the assets of the top 5 kryptomere together. Most likely, the fall of Bitcoin to 2400 would increase the gap to 300 times, even if savings sites were evenly distributed between all the available tokens. And since most of the savings of the exchanges is stored in bitcoins, the gap can reach several hundred times.
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In addition, it is very interesting how JPMorgan is going to assess their own recently a coin JPM. Since it is centralized and does not require mining, its marginal cost should theoretically be zero?
The More data you look at . The current rate of coins can be found in our classroom .
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