I have never thought of that!


Why has nobody brought this up before?!?

At the current price, 3600 bitcoins per day times $180...that's over $630,000 per day!

So mining costs $630k per day right now!

If the price drops to $100 that's $360k per day!

And at $300 mining costs over a million dollars per day!

That is so crazy how mining cost changes so quickly.

I wouldn't want to mine. I pay for the machine, plug it in, then the price to keep it running goes up and down depending on the price.

But why? It should be brought up at least twice a week so that people will finally listen! Maybe once a day for emphasis.

When people realize that the cost of mining is the exact same as the price per 3600 per day, no matter what the price and no matter what the real hardware and electricity costs are, it will blow their minds!

When the price was $1,000 per bitcoin, the hardware and electricity costs to run Bitcoin were $3.6 million!

And now, at a lower price, the cost of hardware and electricity is over $600k.

That is like buying a computer for $1000, but if the price of corn goes up, your computer suddenly costs $2000 more. Even after you paid for it. And your electricity price jumps too.

Let's not get confused with the cost and revenue of mining. The revenue's going down with the price of bitcoin, while production's cost don't change much, but besides a miner, nobody knows how often they do need to sell some of their production to cover costs. Once a month? Once a week or once a quarter? You've got to be a big fish to be a miner. A single guy with a strong computer cannot be a miner anymore, and today's miners are the biggest holders after the early investors.

The problem is there hardware out there is not efficient enough to support both the difficulty and the cost of electricity.   I guess its serves all these manurfactuerers right for now
really developing cutting edge 16nm tech.

Anyone who could produce hardware of that caliber right now would be sitting on a golden goose. 

By the time their new 28nm tech comes out it migh be too late to save them if btc drops to sub 100

Yes, its often modeled in maths as the Lotka Volterra equation.  It appears in nature everywhere, such as predator prey models.

Price goes up (rabbits breed uncontrollably), then foxes (miners see opportunity) grow too, albeit with lag.

Price crashes, now there isn't any "food" for the foxes miners, so they tend towards extinction go bust.

Cycle continues.

Ding ding ding!!!


And there is the whole point of the PoW threads.

Hawk your alts.

No thanks, I would prefer the most secure network in the world.

Next!

they have bills to pay, they have to live their life too. they cannot livee with Bitcoin

everybody needs fiat currency not a "virtual" one.

Not everybody