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 maximize their profits. Bitcoin is intangible and exists only in cyberspace, but it still has a real-world value that can be converted into fiat currency. Miners who can produce Bitcoin at a lower cost will be able to sell it for a higher profit.

Low-Cost Production Is Not Important for Bitcoin Miners Since Bitcoin