So mining is apparently only profitable if btc is over $8600 - page 2.

Hydrogen

legendary

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This topic has come up a few times. Here's the closest thing to a definitive answer I've seen:

Image link: https://i.imgur.com/hMZpOZp.jpg

Source: https://www.elitefixtures.com/blog/post/2683/bitcoin-mining-costs-by-country/

Unsurprisingly, financial and economics spokespersons aren't the most reliable nor accurate source of information.

The cost of mining is also expected to decrease as the ASIC market becomes more decentralized with intel, samsung, nvidia and others due to enter the market. The cost per watt of hashpower is also expected to decline further as competition incentivizes advancement and industry wide innovation in ASIC production with smaller nanometer scale lithographic silicon etching processes which will be empowered by Moore's Law, et al.

squatz1

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This is something that came out in a news story the other day, but it doesn't put into consideration all of the variables which are present. Some of them include the price of the electricity, the price you bought the machinery you mine with at, taxes in your area, etc etc. This study is probably focusing on one area in the world, rather then focused on areas like China who get power for pennies on the dollar. So, yeah, disregard that completely.

Blue Bell

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Quote from: Open Block on April 20, 2018, 06:21:16 AM

No exactly true. Depends on the price of electricity and other factors which are dependent on where you are in the world.

Yes mining is something that you will have to look at everything you will have to loot at the market and you will have to buy the equipment and you will have to manage your time for it same way you will have to pay the electricity bills in mining, so if you have enough amount of capital for all this then you can earn with bitcoin mining, if you see the real face of mining then it is full of profit ad it made a lot of people rich within few months, so buy now to mine but keep the above things in mind.

ahmad21

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Apparently everybody here knows that the cost of mining directly depends on the cost of electricity. And the electricity tariffs differ variably across all the countries of the world. So there is no such set standard for the costs and profits of mining to remain same over a particular benchmark. The rates vary significantly and you cannot even find two countries where the rates of electricity are same, and the cost of mining would be same. So this makes the whole difference and as far as profitability in mining is concerned that highly depends on the time and other resources that you devote to this work.

dothebeats

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Yet another generalized statement. It's either Morgan Stanley doesn't know how to do math or he doesn't know that mining operation costs vary greatly from country to country. If mining bitcoin is only profitable @ $8600, how come we haven't lost any substantial hashing power when the price is @ $6000? Miners would have left if they are losing that big and yet they don't. It's great that these annoying 'experts' don't know how the scene really works.

DooMAD

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"Apparently" is definitely the operative word. Since when are we taking Morgan Stanley's word for anything? Other than perhaps how to get away with a slap on the wrist for serious financial crimes? Calculating mining profitability clearly isn't one of their strong suits. They should stick to what they're good at, which is flouting regulations, exploiting the ignorant and giving generous political contributions to both halves of America's two party system to gain favourable treatment.

I suppose on the plus side, it's reassuring to know they're still far from understanding anything at all about crypto. Means we still have the upper hand.

mostcrack

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The problem with every miner is that electricity bills are increasing every year now is also somewhat expensive in my country for electricity bills, with bitcoin price reductions tending to affect it, with bills and everyday needs that are so much a second problem, not worth the income with every expenditure day must have a problem in the mining tool or the other, every miner must have their respective problems.

AIRDROPSQUAD

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

Honestly, I am not a pro Bitcoin miner. But I see in my local community, there are many people that already sold their mining rig and Antminer.
I don't know what is the reason, I guess it's probably due to the market crash last weeks.

Coffee135

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This is a fake that is distributed by miners in order to justify the high cost of the transaction. I don't believe that. The bitcoin price has been below $ 7000 for a long period this year. Do you think that in this period miners worked at a loss? Lol. It never happens. Perhaps they are preparing public opinion before the rise in price of bitcoin and as a consequence of the increase in prices for confirmation of transactions.

GregoryPorter

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I read this and my first reaction was that this was an arbitrary number they must have picked out of the air because like a few others have mentioned there are so many variables that go into the overall cost of mining. The electricity cost for one. Say you are using a renewable energy source, then what? And the degree of difficulty is always changing as well so how is this factored in?

btccrusher

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It depends on where the miner lives in. I know countries like India, Pakistan, Nepal still has electricity price very cheap. So it should be okay for Bitcoin miner from these countries if the price is below $8600. I guess some African and Asian countries have similar facilities for crypto miners.

GreatBug

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

That depends on more factors than anyone thinks cause mining is not only based on price of bitcoin but costs that you need to pay by doing that including for example your time so for me this is an individual case.

ereme

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

This depends on how much are your running costs like rent for the place and electricity charges. In come places, it can be profitable even with BTC prices of $5000.

carlisle1

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

im not into mining but i dont believe that it was depending on bitcoin price..i guess its about the electricity bills if its cheaper well you may gain good..but if youre region has a high electricity price then thats why low earning from mining happens

guschinaa

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

This is not true for every individual as the mining expenses vary from place to place. It mainly depends on the cost of electricity you are using.

gon

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

This is not correct.
You must calculate your Mining profitability by considering how much are you paying for the hardware, electricity, cooling, your time and many more factors. But by all meanings, it's cheaper than $8600 to mine a Bitcoin. At least in my country.

supermine

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

Bitcoin mining profitability only based on the electricity cost,if his country has the high electricity bill then he may can only have profits above the price what he mention but in some countries the cost is very cheaper so they can make profits even the price is lower.But that is not the stable price of bitcoin soon it may go to moon so keep mining the bitcoins and hold them.

richminded

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

Well it can be considering the cost behind that thing but I think long term mining is really profitable no matter what the price. When you do mining you can tell if its really profitable or not, but since I have experience on this thing I’ll leave some thought from the professional miners here.

alyssa85

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

It depends entirely on a) electricity costs and b) the hashrate.

Even with low electricity costs, you can end up spending a fortune trying to mine because the hashrate is high and the rewards thus low. That's why so many miners mine bitcoincash and other coins to supplement their earnings.

TraiKH

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Quote from: JoshuaBlack1 on April 20, 2018, 05:11:43 AM

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

BTC value> 8k6 $ is effective for mining is not quite right. Because the mining process from the company depends on the construction, tools, equipment and utilities as well as the amount and power consumed depending on where to operate it.

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