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Topic: How much does it cost YOU to produce a bitcoin? - page 2. (Read 8152 times)

newbie
Activity: 56
Merit: 0
I'm running two miners with a power consumption of roughly 1300W, doing about 1.4BTC/day. 0.22€/kwh =
1.3kw * (24h / 1.4BTC) * 0.22€ =
4.90€/BTC =~ 6.90$/BTC

Germany definitely isn't the best place for mining...

No problems for me!

I will rent you a spot in my storage room in the kellar for 0.3BTC/day flatrate Cheesy

I'm in Western Germany
newbie
Activity: 51
Merit: 0
I'm running two miners with a power consumption of roughly 1300W, doing about 1.4BTC/day. 0.22€/kwh =
1.3kw * (24h / 1.4BTC) * 0.22€ =
4.90€/BTC =~ 6.90$/BTC

Germany definitely isn't the best place for mining...
newbie
Activity: 12
Merit: 0
Costs me an arm and leg, in future maybe kidney.
full member
Activity: 168
Merit: 100
Higher power consumption and a busted lamp. LOL Grin
full member
Activity: 168
Merit: 100
About 30 hours and $3 in electricity.  Tongue
member
Activity: 84
Merit: 10
I live in a predominately college town so this may not apply everywhere.
A lot of landlords here offer some or all utilities included in rent as an incentive to the college kids. Being an apartment dweller at the end of my lease this summer, I specifically found an affordable place I could rent with utilities included. My landlord pays my electricity for me, therefore my he pays my rent for me! He can't be making any money off me, I imagine the power bill is pretty ridiculous with the AC and Bitcoin rigs running all day. Fortunately he can't do anything about it until my lease expires in 12 months. Grin

If you have a big mining farm that eats up a few hundred dollars/month in electricity, it may be worth finding a cheap, electricity-included apartment just to house your rigs. Of course if you are spending that much per month in electricity, I imagine you've probably already considered this option as well as a hundred others. Just be prepared to get tossed out on your ass as soon as your lease expires. Tongue

Hmmm, you sure about that? I have rentals and I pay for utilities but I put a disclaimer in the lease that says I only pay up to $50/month for water or electricity and the remaining balance gets added to next month's payment.
legendary
Activity: 1692
Merit: 1018
I get about US$1 profit per day on costs of US$1.25.  320Mhash/s.  I've cut back mining and sold most of my hardware on eBay while it was still worth something.

Solar power being installed soon, so I should make enough power with my 1.5kWh system to make mining costs nominally zero.  Thank you, tax payers of Australia :-)
newbie
Activity: 56
Merit: 0
Paying a flat-rate for electricity here in Germany.  My condo and all the other condos in my building don't have separate meters, so we pay flat-rate, and everyone pays an adjustment once a year, or, gets the adjustment cash back.  I got 110 Euros back this months for overpayment of the past year Smiley

So I guess, 100% profit for a Ghash Cheesy
sr. member
Activity: 392
Merit: 250
You know, there must be some truth to the stereotype or it wouldn't be so persistent...

Admit it -- behavior like that isn't going far to dispel that "false stereotype" of young people today.

"I don't read books. I don't read entire articles. Heck, even on a forum on a topic I'm into -- whose material is such light reading I could handle it when I'm tired -- I don't even read whole forum posts!"

Pretty pathetic, if it actually applied to anyone. I have my doubts that anyone is actually that far gone.

Matthew

sr. member
Activity: 672
Merit: 258
https://cryptassist.io
According to BitcoinX.com's calculator, My revenue/day is $31.96 for 3500 mhash/s. It gives "Less power consumption" @ .17/kw, 2000w as 23.80. Meaning it costs about $8.16/day for 2.252 bitcoins.

TL;DR= $3.62/bitcoin

Maybe I'm getting old. Ok, I *know* I'm getting old, and I'm still in my 30's.

What is the world coming to, when they can't read two sentences, and need a "quick version" or "Too long, don't read"?

Cliff's notes for a 2 sentence post? Is there really anyone who can't be bothered to read the "entire" post? Come on!

Matthew


TL;DR: old guy says young people are lazy, news at 11.
sr. member
Activity: 392
Merit: 250
According to BitcoinX.com's calculator, My revenue/day is $31.96 for 3500 mhash/s. It gives "Less power consumption" @ .17/kw, 2000w as 23.80. Meaning it costs about $8.16/day for 2.252 bitcoins.

TL;DR= $3.62/bitcoin

Maybe I'm getting old. Ok, I *know* I'm getting old, and I'm still in my 30's.

What is the world coming to, when they can't read two sentences, and need a "quick version" or "Too long, don't read"?

Cliff's notes for a 2 sentence post? Is there really anyone who can't be bothered to read the "entire" post? Come on!

Matthew
member
Activity: 91
Merit: 10
According to BitcoinX.com's calculator, My revenue/day is $31.96 for 3500 mhash/s. It gives "Less power consumption" @ .17/kw, 2000w as 23.80. Meaning it costs about $8.16/day for 2.252 bitcoins.

TL;DR= $3.62/bitcoin
member
Activity: 68
Merit: 10
I didn't buy solar panels just to start mining. :p I'm still a student and live with my dad. Our government was promoting solar panels last year and encouraged everyone to buy them by refunding almost the entire cost of installation over a long period. I believe we will actually start making money from them after 2 or 3 years. So yes it's an investement but it will definitely pay off after a couple of years.
hero member
Activity: 812
Merit: 502
The setup in the signature = 0.800kWh = 19.2kWh a day x 0.10306p = ~£2

So 1BTC costs £2 ($3.18) to produce
sr. member
Activity: 672
Merit: 258
https://cryptassist.io
counting solar panel cost as a cost of production is silly.  the marginal cost of using the electricity for BTC is zero assuming he is generating a surplus.  counting the costs of the solar panels would only make sense if he installed them specifically for mining or mining made them more expensive somehow.

No, ignoring the opportunit cost is ignorant. Stupid.

Put 25.000 USD into a bank account and you get money. Sell the electricity and you get money. Use it for mining and you loose that - this is a cost. It is  called opportunity cost. Same with depreciation - yes, aldo solar cells dont live forever.

The cost of capital and loss of other income sources is a cost. For example every hour I spend tending my farm is a cost of 100 USD (actually more) because I loose an hour I can invoice a customer for.

DERP marginal cost.  Most people aren't set up to sell back the electricity from their panels.  Overage is often mostly wasted.  BTC is monetizing the overage.
full member
Activity: 140
Merit: 100
counting solar panel cost as a cost of production is silly.  the marginal cost of using the electricity for BTC is zero assuming he is generating a surplus.  counting the costs of the solar panels would only make sense if he installed them specifically for mining or mining made them more expensive somehow.

No, ignoring the opportunit cost is ignorant. Stupid.

Put 25.000 USD into a bank account and you get money. Sell the electricity and you get money. Use it for mining and you loose that - this is a cost. It is  called opportunity cost. Same with depreciation - yes, aldo solar cells dont live forever.

The cost of capital and loss of other income sources is a cost. For example every hour I spend tending my farm is a cost of 100 USD (actually more) because I loose an hour I can invoice a customer for.
sr. member
Activity: 672
Merit: 258
https://cryptassist.io
counting solar panel cost as a cost of production is silly.  the marginal cost of using the electricity for BTC is zero assuming he is generating a surplus.  counting the costs of the solar panels would only make sense if he installed them specifically for mining or mining made them more expensive somehow.
sr. member
Activity: 392
Merit: 250
Where do you live, Alaska?
hero member
Activity: 602
Merit: 500
I live in a predominately college town so this may not apply everywhere.
A lot of landlords here offer some or all utilities included in rent as an incentive to the college kids. Being an apartment dweller at the end of my lease this summer, I specifically found an affordable place I could rent with utilities included. My landlord pays my electricity for me, therefore my he pays my rent for me! He can't be making any money off me, I imagine the power bill is pretty ridiculous with the AC and Bitcoin rigs running all day. Fortunately he can't do anything about it until my lease expires in 12 months. Grin

If you have a big mining farm that eats up a few hundred dollars/month in electricity, it may be worth finding a cheap, electricity-included apartment just to house your rigs. Of course if you are spending that much per month in electricity, I imagine you've probably already considered this option as well as a hundred others. Just be prepared to get tossed out on your ass as soon as your lease expires. Tongue

amusing, albeit highly unethical. I personally don't think I would ever go this route, though I can understand it. I suppose that's the real free market for you.

Anyway for the OP, where I live probably has some of the highest rates in the nation. It costs me roughly $6.67 to produce a bitcoin based on my last bills and calculating forward my current rate of generation. It will likely become unprofitable for me to mine at around 3million difficulty. Fortunately that will only occur when another ~11THash of computing power comes online, which I suspect will not be for a long while, unless someone busts out some crazy ASIC cluster, which will rape everyone anyway.

EDIT: Not to be too complainy though, where I live it is currently 57F outside, in mid july, that's pretty darn good for a big fat bitcoin farm. No AC for me Smiley
legendary
Activity: 1400
Merit: 1005
About $2.77/BTC.
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