Topic: It'll be insanity not to buy bitcoin at sub $500 - page 4. (Read 5297 times)
yeah.. any amount below 500 are mere cheap coins
actually if you buy hardware (or most things business related)
you pay now and the price is paid off through the time you use it
lets say:
item: 1000$
use of item: 10 months
-> costs per month 100$
of course how your "expenses" are calculated depends on what kind of expense it is...the calculation above also says that after 10 months the item is worthless...but if you can resell it for 200$ then it would be:
1000$ - 200$ = 800$
Costs per month 80$
you pay now and the price is paid off through the time you use it
lets say:
item: 1000$
use of item: 10 months
-> costs per month 100$
of course how your "expenses" are calculated depends on what kind of expense it is...the calculation above also says that after 10 months the item is worthless...but if you can resell it for 200$ then it would be:
1000$ - 200$ = 800$
Costs per month 80$
Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.
I think your logic is the wrong way round.If something costs more to produce than its worth doesnt mean its a good idea to buy the product, just thats it a bad idea to produce it.
Bingo. All the perma bulls saying that mining cost will drive exchange rate upwards aren't really using sound logic. Surely, miners could simply be making a horrible investment (if currently mining at a loss).
Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.
I think your logic is the wrong way round.If something costs more to produce than its worth doesnt mean its a good idea to buy the product, just thats it a bad idea to produce it.
Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.
How do you come up with these numbers ? If i assume that an industrial mining operator with access to really cheap electricity(0.05c/kw) has a current miner running, it is still profitable even with a bitcoin price of 55$.
You can check my math: Antminer s3 440gh equals 0.008068 btc per day. The price of the units electricity for a whole day is 0.44 cent. (0.366 kw per hour)
0.008068 * 55$ - electricity = 0.443 - 0.439
Of course this is an extreme example, there are more expanses. For example the price of the miner. But if you already have a miner, that means that you paid for it in advance. You would let it run until btc goes below 55$. (insane thought lol)
You need to factor in the cost of HW as it will be useless after 4 months.
A more reasonable estimate on production cost per btc is 600.
A more reasonable estimate on production cost per btc is 600.
Not necessarily. Do you think that the large farms of Bitfury haven't already recovered their initial HW costs? How about KnC? Or maybe Bitmain?
Further, to derive that $600 figure do you know what the cost per GH is for these large corporate farms? If you do, could you post the citation for said figures?
Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.
What if they just end up running at a loss for some time..... and price doesn't recover? Then hash rate drops.... despair sets in.... just saying.
Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.
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