Price of bitcoin falls below cost to mine

By Ed Zwirn of the New York Post

To add to the misery to bitcoin enthusiasts, the act of finding or “mining” the cryptocurrency has become unprofitable as the price continues to crater. This raises further questions about the viability of the accounting system supporting the cryptocurrency.

The volatile asset is now fetching under $3,200, off more than 84 percent from the highs seen during its “tulip mania” phase of a year ago.

Is this the end for Bitcoin?

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About Radnor Reports

Ken Feltman is past-president of the International Association of Political Consultants and the American League of Lobbyists. He is retired chairman of Radnor Inc., an international political consulting and government relations firm in Washington, D.C. Know as a coalition builder, he has participated in election campaigns and legislative efforts in the United States and several other countries.
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