Alot of money was invested into Bitcoin, Bitcoin businesses, blockchain technology, ICOs, startups,etc.
Sure some of those ICOs were scams and some were overpriced for a simple website and whitepaper but there are many out there that are legit.
Right now I think we are in a price discovery mode. Most of us here were around for a few years and we all knew that BTC at $20K or even $10K was not considered normal. Same with ETH, no way ETH was worth $1400 a coin.
I remember late 2015/early 2016 my 280X GPUs found like a block on average every week mining solo. This was when the block reward was 5 ETH. To me an average price for ETH was around $10, and when it hit $20, I've sold pretty much all of them. The fact that it hit $1400, is not only abnormal, its retarded.
Don't get me wrong, ETH might have a valuation of $1400 but not in the near future. For it to go from $10 to $1400 in a year is crazy. And for it to go from $400 to $1400 in like a month is also crazy.
Lot of truth here. If you think of coins as a way to earn money and compare to " safe investing" say a USA bond
you want a premium. So if a "safe" bond pays 3% mining needs to pay more.
I learned a lot of info on solar in the state of NJ not only for mining but for solar farming as an investment.
In NJ without mining I can make 5 to 7% on a proper solar farm setup.
this is calculated selling power to the grid at 4 cents a kwatt.
last winter we were earning 50 to 65 cents a kwatt mining we averaged 36 cents for about 13 months.
So 36/4 = 9x the price of selling it to the grid. so in 13 months we earned more then 117 months of earnings if we were selling to the grid. that is not normal and is not going to last.
we still earn 9 to 11 cents per kwatt vs 4 cents pretty good.
