Is the AVERAGE PRODUCING COST of 1 Bitcoin representative of the lowest PRICE?? - page 2.

r0ach

legendary

Activity: 1260

Merit: 1000

Quote from: Amph on January 16, 2016, 08:28:12 AM

no, because neptune is trash, with antminer s7 the cost to produce one bitcoin is around $75, so the price can even go under 100, and it will be profitable, but a bit too risky for the miners in that case

Um...this calculation is ridiculous and isn't right. The last time I calculated cost to produce a Bitcoin, SP30 had been out for a while and the energy price was like 2/3rds or higher with the hardware being the rest. The energy price was something like $150+ then, and that was maybe over a year ago. Besides the Bitfury 16nm chips, which I'm not sure of how many of those are deployed, efficiency hasn't change that much, but hash rate is a lot higher. There is no way in hell the electric cost to produce a Bitcoin is $75 now. It's probably somewhere between 200-300 with (huge) hardware costs on top of that.

NorrisK

legendary

Activity: 1946

Merit: 1007

Not really. Nobody ever claimed that mining should be profitable at all times. Mining is requires for a healthy network, and the by product is coins.

Most likely if it is unprofitable, small miners will shut down, raising the profits of the giants.

Amph

legendary

Activity: 3248

Merit: 1070

no, because neptune is trash, with antminer s7 the cost to produce one bitcoin is around $75, so the price can even go under 100, and it will be profitable, but a bit too risky for the miners in that case

BldSwtTrs

legendary

Activity: 861

Merit: 1010

No.

Average cost moves.

panton

newbie

Activity: 19

Merit: 0

hi guys , I was thinking about this and im asking, what are your toughts on this matter?

--When bitcoin fell from ATH it hit the bottom when the price for PRODUCING 1 bitcoin was equal to 1 bitcoin.where i live that was about 200$.

in my country in september 2015 , with a neptune at 54mm difficulty (half of now) I was able to mine one bitcoin per month and the electricity cost would've been 200$. Bitcoin was about 230$ at that time.

--Now with the recent price gains , and with recent increase in difficulty , im not mining anymore but it would go like this :

With a neptune it would cost me 200$ per 0.42 btc per month, So i would need to pay at least 400$ per bitcoin to produce it and sell it for profit.

***So to be profitable the price of bitcoin should stay anywhere in that area of 400$.

Is the AVERAGE PRODUCING COST of 1 Bitcoin representative of the lowest PRICE 1 bitcoin could be??

Topic: Is the AVERAGE PRODUCING COST of 1 Bitcoin representative of the lowest PRICE?? - page 2. (Read 1787 times)