The cost of mining is tremendously high when you take account of the electricity bill that comes after buying that high end machine .
Also the amount of Bitcoins mined is generally distributed amongst a set of people and whatever everyone gets is not very very high thus I think that it's pretty legit fair and..the small miners would get affected more if it falls below this but the good news is that we are seeing this constant growth spur that's minute but steady and we can expect a lot in upcoming days .
Topic: So mining is apparently only profitable if btc is over $8600 - page 3. (Read 420 times)
The cost of btc mining vary as I know I don't know the lowest possible cost but probably btc will rise in the long run considering mining costs. What is going to happen when btc price is never able to be over the cost?
The production cost of BTC is different from all over the world!
The biggest impact on BTC production costs is electricity, which is cheap to extract from cheap electricity.
There are also some artificial expenditure is BTC's mining cost!
The more developed a place, the BTC mining cost is very high!
The biggest impact on BTC production costs is electricity, which is cheap to extract from cheap electricity.
There are also some artificial expenditure is BTC's mining cost!
The more developed a place, the BTC mining cost is very high!
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.
I don't think it is true and yes why should we take Morgan Stanley statement very much serious if he is unknown from the real stats of mining and other valuations of the respected living country of the miner. It totally depends on the country's economic conditions, their amount and quality of resources like Electricity and hardware requirements, and one thing matter a lot is whether the country is supporting the Mining business or not. I think it can be managed well if countries joined together and take some necessary plans and steps by which they can decrease the cost of Mining to a certain extent. In my country India, the cost of mining is somewhere around $3000-$4000.
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.
Ask him if he do mine bitcoin. I don't mine bitcoin but I know it's still profitable if you have large farm to held your mining operation. Nowadays it's easy to say something base on your view without applying or experiencing on how it really works.The cost of mining in venezuela is lower!
Also the temperature must be considered like genesis' one location in Iceland.
No exactly true. Depends on the price of electricity and other factors which are dependent on where you are in the world.
There are several factors that influence the profitability of mining.Profit depends on the complexity, the number of miners,depends on the Commission for the transaction.Revenues may depend on the course. But this does not mean that if the rate falls, mining becomes unprofitable. He continues to work for the prospect of course growth.It is also necessary to take into account the cost of electricity.The combination of these factors affects the profitability of mining and they need to be considered.
The most important expenditure for mining is mine and electricity!
Electricity is different around the world, and a BTC can be dug in China for less than $2,000.
The cost of mining in venezuela is lower!
Electricity is different around the world, and a BTC can be dug in China for less than $2,000.
The cost of mining in venezuela is lower!
This is not quite true, as the cost of bitcoin decreases, the complexity of mining also decreases, as the number of miners becomes smaller. Therefore, it will still be worthwhile to mine.
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 exactly. It depend on the price of electricity and some policy of government in country where you're living.According to Elite Fixtures, the cost to mine a Bitcoin in Venezuela is cheapest $531 and Republic of Korea is the most expensive $26,170. United States is $4,718. Many Asia countries and some East European countries have the cost to mine a Bitcoin is cheap as: India, China, Uzbekistan... they just need $1,100 - $3,500 to mine a Bitcoin.
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.
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