Day: June 1, 2020

Publication an equilibrium of the market for bitcoin mining | Blockchain@X
Publications

An Equilibrium Model of the Market for Bitcoin mining

We propose a model which uses the exchange rate of Bitcoin against the US dollar to predict the computing power of Bitcoin network. We show that free entry places an upper-bound on mining revenues and we devise a structural framework to measure its value. Calibrating the model’s parameters allows us…

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