[2019-02-14]JPMorgan: Bitcoin Price is Now Lower Than Cost of Mining One BTC

stomachgrowls

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Quote from: ?? on ??

As expected from CoinIdol, giving outdated, clickbait or misleading news.

It has been discussed already and i'll keep say that JP Morgan forget/don't know bitcoin difficulty adjustment happen every 2 weeks. Miners with high operational cost will shutdown and the others can continue mining at profit.

I didnt really tend to click out this thread but out of curiosity and number of replies i do proceed and already anticipated with that clickbait/misleading news comments from other users

Quote from: elda34b on February 16, 2019, 10:24:54 PM

Looks like I'm going to put Coinidol in my ignore list. Their news is below standard, out of date or just pure click bait (just like third-tier media in my country). Is there no reliable source of cryptocurrency news out there?

Google is your friend and you can choose up which one suits your taste Wink

elda34b

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Looks like I'm going to put Coinidol in my ignore list. Their news is below standard, out of date or just pure click bait (just like third-tier media in my country). Is there no reliable source of cryptocurrency news out there?

pixie85

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If they think so it would be profitable for them to start buying. What is JP trying to achieve here? Make people start buying, or maybe scare them away from Bitcoin by making them believe that miners will soon shut down all at once because it's not profitable to mine?
None of the things that JP is talking about is being said without a hidden purpose. They bought and want it to pump or they are waiting to uy and want people to dump.

Baofeng

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Wut? JP Morgan now interested on Bitcoin price and its correlation about mining? Lmao. Research my ass, coinidol, please stop this kind of crypto journalism, it really hurt the cryptosphere with this kind of shitty articles. And really JP Morgan? It just shows how JP Morgan hasn't stop its attack on bitcoin and perhaps wanted to bring it down, so that they can buy more cheap coins, ehem.. ehem..

Taki

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Quote from: bhadz on February 15, 2019, 01:01:01 AM

I'm not a miner but do they understand that electricty from each other aren't the same? It can be more expensive to them as they conclude that mining cost is lower up to this date but it can be cheaper in some other countries. And also, is the JP Morgan still that interesting? are they doing this to gain more exposure for the coin that they recently launched?

I guess the point is about American miners (JP Morgan placed there) and as I know the electricity there is not so cheap, like for example, in Venezuela.

eaLiTy

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Have Fun )@@( Stay Safe

Quote from: buwaytress on February 15, 2019, 05:10:03 AM

Research on the ground? Has JPMorgan actually gone inside a rig farm and spoken to operators? Seen bills for electricity? Not even going to bring in talk about those miners in Iran firing up obsolete Antminers and still making profit, or those miners in Georgia and Armenia who are happily expanding, or even those in this forum proudly making small but certain profits from solar mining.

Bet that would really bring down average cost.

Otherwise, why is hashpower climbing back up?

It is just an assumption and there is no research from them as far as i can see, the validity of a research depends upon the study conducted and it is not clear on which part of the world they conducted these research and made these assumptions and as long as those data is not available it is hard to believe anything anyone say, It is like Craig coming up and saying he is Satoshi but cannot furnish any proof Cheesy

. Even if the cost of mining is higher than the current price the miners will have those calculations as they know it will be profitable for them in the long run, if not all the mining farms will be shut by now. Grin

1Referee

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Quote from: buwaytress on February 15, 2019, 05:10:03 AM

Research on the ground? Has JPMorgan actually gone inside a rig farm and spoken to operators? Seen bills for electricity?

They just act stupid. It's all done to fuel their anti Bitcoin narrative. These entities have all the funds, manpower, tools, etc, available to them to conduct research in the most effective possible way. It's just not in their interest to actually publish it. It's valuable information they utilize internally, because publishing it means free info for other financial institutions and entities looking to enter this space.

In the end, they know that the system they participate in consumes way more electricity than Bitcoin does, even if the Bitcoin network itself grows another few hundred %.

In case of JPM, we don't have to look at what they say (it's shit anyway), but look at what they do. Actions speak louder than words.

veleten

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ah,JP morgan the Sherlock Holmes in the making!
mining has not been profitable for an average miner since the price drop below 6000$
now only the lowest energy and operations cost miners survive, aka big farms or individuals with free electricity
even then the ROI time is astronomicaslly high ,long gone the times to return your money in 6-9 months
now the cost of the rigs and electricity and the price of bitcoin has pushed the ROI to 2-3 years
I bet this JPMorgan's sudden interest in mining profitablity has something to do with them pondering launching their own centralized sh-coin

buwaytress

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Join the world-leading crypto sportsbook NOW!

Research on the ground? Has JPMorgan actually gone inside a rig farm and spoken to operators? Seen bills for electricity? Not even going to bring in talk about those miners in Iran firing up obsolete Antminers and still making profit, or those miners in Georgia and Armenia who are happily expanding, or even those in this forum proudly making small but certain profits from solar mining.

Bet that would really bring down average cost.

Otherwise, why is hashpower climbing back up?

bhadz

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Payment Gateway Allows Recurring Payments

I'm not a miner but do they understand that electricty from each other aren't the same? It can be more expensive to them as they conclude that mining cost is lower up to this date but it can be cheaper in some other countries. And also, is the JP Morgan still that interesting? are they doing this to gain more exposure for the coin that they recently launched?

Vladdirescu87

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According to research on the ground, the production-weighted cash cost to create 1 Bitcoin (BTC) averaged approx. $4,060 worldwide in the fourth quarter (Q4) of 2018, analysts from JPMorgan Chase Co. reveal. This cost is much higher than the current Bitcoin price as Bloomberg reports.

BTC itself is currently changing hands at around $3,600 with a market cap of over $63.796 billion. It doesn’t appear like such a big deal. However, there is a huge feast around the average, implying that there are several vibrant losers and winners.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-price-mining/

Topic: [2019-02-14]JPMorgan: Bitcoin Price is Now Lower Than Cost of Mining One BTC (Read 235 times)