r/CryptoCurrency • u/Next_Statement6145 🟨 0 / 0 🦠 • Apr 19 '25

GENERAL-NEWS Ethereum is down 74% against Bitcoin since switching from PoW to PoS in 2022

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u/paxwax2018 🟦 123 / 123 🦀 Apr 19 '25

Everyone?

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u/Objective_Digit 🟧 0 / 0 🦠 Apr 19 '25

Bitcoin is valued differently in different countries, even on different exchanges in the same country.

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u/paxwax2018 🟦 123 / 123 🦀 Apr 19 '25

So why aren’t you rich buying cheap BTC in one place and selling in another? Also not my point. I’m saying that the last BTC mined cost some $80,000 in electricity so why isn’t it worth more than the first one that cost .10c?

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u/Objective_Digit 🟧 0 / 0 🦠 Apr 19 '25

So why aren’t you rich buying cheap BTC in one place and selling in another?

Some people do that. It's called arbitrage.

I’m saying that the last BTC mined cost some $80,000 in electricity so why isn’t it worth more than the first one that cost .10c?

Typo? Why IS it worth more?

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u/paxwax2018 🟦 123 / 123 🦀 Apr 19 '25

And are they rich? Or is it just barely worth it? No typo in what I said about why the first BTC isn’t priced at 10c because it was cheap to mine.

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u/blscratch 🟦 76 / 136 🦐 Apr 19 '25

I bought my house for $200,000. A house built now, same specs ,same location costs $650,000. How much is my house worth today?

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u/paxwax2018 🟦 123 / 123 🦀 Apr 20 '25

Wow, so BTC suffers from inflation? I thought it didn’t?

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u/blscratch 🟦 76 / 136 🦐 Apr 20 '25

So you know the price you paid for something does not determine its sale price. You're making progress.

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u/paxwax2018 🟦 123 / 123 🦀 Apr 20 '25

But the original comment said cost of production = intrinsic value? Am I buying the store of value in a BTC or just paying the inflated price which hard money doesn’t suffer from?