Ok, then it's $40,000 per year. That's still crazy high given he's not getting anything out of it. And that's without shipping. Copper is heavy, it's gonna add up so think closer to $60,000.
If people make less way less mining a coin, they'll mine something else. Coin has to be profitable to mine to support anything resembling a secure network.
That's not true. I mine various coins for speculation purposes and in order to get new coins whole difficulty is low. Not all coins are mined for immediate profit - that's short sighted. Many people realize that the next LTC or even BITCOIN could be a worthless coin today so then the difficulty (a low one) is as important as the price of a coin as most coins only have a low difficulty when they first come out.
For a new coin like this to already have such a high value of over $2 per coin is really good if it can be sustained.
I'm not sure why igotspots would be upset. Worst case I'm saving him a lot of money by letting him know now how expensive this is gonna get and if already planned to spend this much then all I'm doing is telling all the miners how lucky they are.
Either way I would be thanking me not calling me dumb when my math is accurate given the inputs I had to work with. And I'm doing this in my head as I'm reading this stuff so let's not split hairs if it's $10,000 per month instead $12,000. Either way it's gonna be spendy - good for everyone if it can be sustained.
