(Consider This) Low-cost production is not important for Bitcoin miners since Bitcoin is intangible and
exists only in cyberspace.

Question

Quizplus · Accepted Answer

Low-cost production is important for Bitcoin miners because it allows them to earn a profit. Bitcoin is intangible and exists only in cyberspace, but it still has value because it is a scarce digital asset. Miners compete to solve complex mathematical problems in order to add new blocks to the blockchain and earn Bitcoin rewards. The miners who are able to solve these problems most efficiently and at the lowest cost will be the most profitable.

(Consider This) Low-Cost Production Is Not Important for Bitcoin Miners