Bitcoin could be hard to break into, it is still a lot of questions about electricity and the mileage of the products, lets say you have free electricity you still have to pay for the miner which means if you pay a certain amount and it dies before it recovers that amount you can't really make money with it. There are people who are literally optimizing products so well that you wouldn't believe them.
However, most of the people who mine switched to GPU because you can have literally one rig and still make a profit (very tiny of course) whereas bitcoin ASIC miners are very difficult to mine and get your hands into. GPU miners on the other hand have been reinvesting the profits they made in order to grow even bigger and there are tons of huge ones all over the world because it is just graphic cards and they are sold everywhere around the world.
Topic: Bitcoin Creation Cost vs Price: Finding The Real Bottom (Read 300 times)
Great, you get what you pay for. Enjoy your free investment advice from scammers.
If you can’t afford it. It’s not for you. Enjoy the free content i post and stfu lol
you dont need to send me PM to know how is where i live, yes i live in mozambique (Maputo) and you are being naive if you think all the people who live where i live are poor people. there are so many rich people where I live. I'm not some scammer to hide where I live.
Accept criticism, if you were a well educated person, you would accept my criticism and lower the price of your courses.
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I accept constructive criticism. You are a person of greed and arrogance.
You represent your stereotypes well. Enjoy your goat herding and poaching elephants.
You are again posting to promote your site, this is not wrong, but the price you charge for people to have access to the knowledge you have is very high:
you charge $119.99 every month... that's a high value to just know about bitcoin production cost. Are people used to analyzing the charts and following the news so they can trade, why the hell would they pay $119.99 every month to know about the cost of creating each bitcoin? I think no one will pay for your services
Great, you get what you pay for. Enjoy your free investment advice from scammers.
If you can’t afford it. It’s not for you. Enjoy the free content i post and stfu lol
you dont need to send me PM to know how is where i live, yes i live in mozambique (Maputo) and you are being naive if you think all the people who live where i live are poor people. there are so many rich people where I live. I'm not some scammer to hide where I live.
Accept criticism, if you were a well educated person, you would accept my criticism and lower the price of your courses.
Red-Apple states that your data does not add up and your facts are false. I agree with him. Miners have mined at a loss many times previously. Also traders don’t give a rats ass what a miner needs to pay. Simple supply demand economics apply to bitcoin.
You answer that facts do not care if people agree with them and state that your facts are therefore true.
You state that “it is simply reality”... these are things what unknowing people say when they can’t provide proof.
You are NOT helping people understand the market. You are NOT listening to any input whatsoever. You are only selling your bullshit TA to screw people out of their money.
Have a nice day
this is utterly wrong like always.
the market decides what the bitcoin price is not the miners. the market doesn't check how much it costs miners to mine bitcoin! if it decides price should be $10 and cost of mining is $50 then it will be $10 no matter what. and if it decided it should be $100 and cost was $50 again the price will be $100 no matter what.
if you check the bitcoin history you can clearly see this is true!
the market decides what the bitcoin price is not the miners. the market doesn't check how much it costs miners to mine bitcoin! if it decides price should be $10 and cost of mining is $50 then it will be $10 no matter what. and if it decided it should be $100 and cost was $50 again the price will be $100 no matter what.
if you check the bitcoin history you can clearly see this is true!
I don’t really care if you agree or not. Facts don’t really care if people agree with them. I’m trying to help people understand this market. I don’t know what you are trying to do.
It is simply the reality. Doesn’t matter if you agree.
Red-Apple states that your data does not add up and your facts are false. I agree with him. Miners have mined at a loss many times previously. Also traders don’t give a rats ass what a miner needs to pay. Simple supply demand economics apply to bitcoin.
You answer that facts do not care if people agree with them and state that your facts are therefore true.
You state that “it is simply reality”... these are things what unknowing people say when they can’t provide proof.
You are NOT helping people understand the market. You are NOT listening to any input whatsoever. You are only selling your bullshit TA to screw people out of their money.
Have a nice day
All hail the baby god of crypto. He knows all. The Hat icon he hides behind is very powerful lol he is NOT a moron.
You are again posting to promote your site, this is not wrong, but the price you charge for people to have access to the knowledge you have is very high:
you charge $119.99 every month... that's a high value to just know about bitcoin production cost. Are people used to analyzing the charts and following the news so they can trade, why the hell would they pay $119.99 every month to know about the cost of creating each bitcoin? I think no one will pay for your services
Great, you get what you pay for. Enjoy your free investment advice from scammers.
If you can’t afford it. It’s not for you. Enjoy the free content i post and stfu lol
Mining is not worth the hassle. It is cheaper to buy the coins directly. It used to be a good reason to buy a good GPU.
Mining bitcoin can really be worth it but it is just too expensive to maintain its equipment and having to pay for very high electricity bills while waiting for the reward of bitcoin to come through the mining, the reward could actually be a very large one but the stress one have to pass through before the reward comes. If I am to choose between mining and buying, I think I will also prefer to buy too, have you calculated the cost of buying the mining equipment, what if ones pumps the money into the bitcoin investment, would it not generate exactly what would have been generated if we had mined it. Well, it all depend on our financial status, there are some people that the equipment is nothing to them, so they can easily afford to mine.
this is utterly wrong like always.
the market decides what the bitcoin price is not the miners. the market doesn't check how much it costs miners to mine bitcoin! if it decides price should be $10 and cost of mining is $50 then it will be $10 no matter what. and if it decided it should be $100 and cost was $50 again the price will be $100 no matter what.
if you check the bitcoin history you can clearly see this is true!
the market decides what the bitcoin price is not the miners. the market doesn't check how much it costs miners to mine bitcoin! if it decides price should be $10 and cost of mining is $50 then it will be $10 no matter what. and if it decided it should be $100 and cost was $50 again the price will be $100 no matter what.
if you check the bitcoin history you can clearly see this is true!
I don’t really care if you agree or not. Facts don’t really care if people agree with them. I’m trying to help people understand this market. I don’t know what you are trying to do.
It is simply the reality. Doesn’t matter if you agree.
Red-Apple states that your data does not add up and your facts are false. I agree with him. Miners have mined at a loss many times previously. Also traders don’t give a rats ass what a miner needs to pay. Simple supply demand economics apply to bitcoin.
You answer that facts do not care if people agree with them and state that your facts are therefore true.
You state that “it is simply reality”... these are things what unknowing people say when they can’t provide proof.
You are NOT helping people understand the market. You are NOT listening to any input whatsoever. You are only selling your bullshit TA to screw people out of their money.
Have a nice day
You are again posting to promote your site, this is not wrong, but the price you charge for people to have access to the knowledge you have is very high:
you charge $119.99 every month... that's a high value to just know about bitcoin production cost. Are people used to analyzing the charts and following the news so they can trade, why the hell would they pay $119.99 every month to know about the cost of creating each bitcoin? I think no one will pay for your services
Mining is not worth the hassle. It is cheaper to buy the coins directly. It used to be a good reason to buy a good GPU.
Agreed, it good to buy than mining. The buying needs to be done at the right time, because the price of bitcoin could change in large scale in a very short time period. This could create a big difference between the buying and the creation cost. As a user mentioned above if someone leaves mining the place gets replaced by another miner. No matter what they do, it is their problem to benefit out of mining, because no user gives clear data on the mining cost for a coin. It varies with every miner. It could also be because once price goes down to around cost miners perhaps stop selling bitcoin because why sell then when you can wait and make a profit, meaning not much supply hitting the market, which means it helps keep price stable even as demand drops.
This is the essence of how it works. When the price is low they are less incentivized to sell and even at times they buy. When the price is high they have no reason to hold, and the downward pressure hits 1800 btc/day.
The key is knowing the creation cost.
https://www.amsinger.org/
It could also be because once price goes down to around cost miners perhaps stop selling bitcoin because why sell then when you can wait and make a profit, meaning not much supply hitting the market, which means it helps keep price stable even as demand drops.
Mining is not worth the hassle. It is cheaper to buy the coins directly. It used to be a good reason to buy a good GPU.
It's not worth the hassle for little guys like us. But if you've got a few million bucks to drop and you can source ASICs faster than retail, it's a better investment than buying BTC, especially given sparse OTC liquidity. Find a good land deal near a power generator that needs load balancing contracts and you'll be getting super cheap electricity. A good connection for solar panels can go pretty far too.
Like everything else in this world, you need capital and connections. Otherwise yeah, I feel bad for any casual investor who bothers mining.
Mining is not worth the hassle. It is cheaper to buy the coins directly. It used to be a good reason to buy a good GPU.
now you are just creating data to draw a chart!
the "creation cost" is not just the cost of ASICs. it is that plus a dozen other things including the cost of electricity and labor. and all that is always changing with difficulty. and guess what, difficulty changes with price. as price goes up, the difficulty rises and because of that the cost of mining grows.
and in the end of all this, the price (which decides the cost of mining) is determined on the exchanges by the traders who are not even mining bitcoin.
the "creation cost" is not just the cost of ASICs. it is that plus a dozen other things including the cost of electricity and labor. and all that is always changing with difficulty. and guess what, difficulty changes with price. as price goes up, the difficulty rises and because of that the cost of mining grows.
and in the end of all this, the price (which decides the cost of mining) is determined on the exchanges by the traders who are not even mining bitcoin.
All hail lord crypto! He knoweth all. And is NOT full of crap lol
My car cost $30k 10 years ago.
It probably cost $20k to make, the rest went on taxes, commission etc.
Shall I go to my local dealer and explain it must still be worth $20k?
It probably cost $20k to make, the rest went on taxes, commission etc.
Shall I go to my local dealer and explain it must still be worth $20k?
No, but your dealer knows to not sell cars for less than 20k. And if you can find a car for close to 20k you should probably buy. You are proving my point.
My car cost $30k 10 years ago.
It probably cost $20k to make, the rest went on taxes, commission etc.
Shall I go to my local dealer and explain it must still be worth $20k?
It probably cost $20k to make, the rest went on taxes, commission etc.
Shall I go to my local dealer and explain it must still be worth $20k?
now you are just creating data to draw a chart!
the "creation cost" is not just the cost of ASICs. it is that plus a dozen other things including the cost of electricity and labor. and all that is always changing with difficulty. and guess what, difficulty changes with price. as price goes up, the difficulty rises and because of that the cost of mining grows.
and in the end of all this, the price (which decides the cost of mining) is determined on the exchanges by the traders who are not even mining bitcoin.
the "creation cost" is not just the cost of ASICs. it is that plus a dozen other things including the cost of electricity and labor. and all that is always changing with difficulty. and guess what, difficulty changes with price. as price goes up, the difficulty rises and because of that the cost of mining grows.
and in the end of all this, the price (which decides the cost of mining) is determined on the exchanges by the traders who are not even mining bitcoin.
this is utterly wrong like always.
the market decides what the bitcoin price is not the miners. the market doesn't check how much it costs miners to mine bitcoin! if it decides price should be $10 and cost of mining is $50 then it will be $10 no matter what. and if it decided it should be $100 and cost was $50 again the price will be $100 no matter what.
if you check the bitcoin history you can clearly see this is true!
the market decides what the bitcoin price is not the miners. the market doesn't check how much it costs miners to mine bitcoin! if it decides price should be $10 and cost of mining is $50 then it will be $10 no matter what. and if it decided it should be $100 and cost was $50 again the price will be $100 no matter what.
if you check the bitcoin history you can clearly see this is true!
I don’t really care if you agree or not. Facts don’t really care if people agree with them. I’m trying to help people understand this market. I don’t know what you are trying to do.
It is simply the reality. Doesn’t matter if you agree.
this is utterly wrong like always.
the market decides what the bitcoin price is not the miners. the market doesn't check how much it costs miners to mine bitcoin! if it decides price should be $10 and cost of mining is $50 then it will be $10 no matter what. and if it decided it should be $100 and cost was $50 again the price will be $100 no matter what.
if you check the bitcoin history you can clearly see this is true!
the market decides what the bitcoin price is not the miners. the market doesn't check how much it costs miners to mine bitcoin! if it decides price should be $10 and cost of mining is $50 then it will be $10 no matter what. and if it decided it should be $100 and cost was $50 again the price will be $100 no matter what.
if you check the bitcoin history you can clearly see this is true!
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