
As Bitcoin goes bust, one classic market signal is pointing to more pain - SirLJ
https://www.cnbc.com/2018/03/29/as-bitcoin-goes-bust-one-classic-market-signal-is-pointing-to-more-pain.html
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dragontamer
Is it too surprising that BTC is in Contango? As the article explains: BTC has
energy cost to "mine". So in effect, BTC in the future is worth less than the
promise of BTC in the future.

Future BTC requires a LOT of energy to create. So the Contago simply is
correlated to the energy costs.

Unless there's a "bigger problem" here that I'm missing??

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downrightmike
It only costs more power because of how many miners there are. The difficulty
increases the more people there are to mine in order to keep the block finding
time somewhat consistent. If we had 50% of the miners go away today, it would
still take about the same amount of time to find a block because the overall
difficulty would be lower too. Just one company in China, bitmain, has over
28% of the entire network. They are also the company that makes the best ASICs
and they appear to be liquidating their equipment in China and starting to
move to the US and Switzerland.

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arisAlexis
for sure an asset exactly 700% on the year is bust. It is obvious

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SirLJ
Not this year....

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arisAlexis
year to year

