A bargain indeed.
Thank you for your calculations. Funny it's the Chinese lucky numbers 888
Where can I see what the minimum profitable price is for bitcoin miners.
I know it varies but a general ballpark. You'd have to calculate it but is there a site where it shows it?
http://bitcoincharts.com/ --> 2456335.762 Thash/s
and
https://www.hobbymining.com/bitmain-antminer-s9/ --> Very efficient at ~0.1 Joule per GH/s
and
https://en.wikipedia.org/wiki/Electricity_pricing --> a broad range of prices (so let's use $0.10 as an average)
2456335.762 THash/s is 2456335762 GHash/s
2456335762 X 0.1 J/GHash/s X 24hrs X $0.10 = $589520.58288 per day which produces 1800 BTC
dividing it out gives us $327.51 in electricity costs alone
now
https://shop.bitmain.com/productDetail.htm?pid=0002016052907243375530DcJIoK0654 we can get some specs and pricing for miners.
Let's say an Antminer S9 is capable of 14 THash/s and assume the network is using only these highly efficient miners. In this case, the network is comprised of 175452.55 S9s
each S9 retails for ~2100 USD and lets assume it will last for 1 year before becoming obsolete. The network hardware costs for the year are 368450364.3 and per day would be 1009453.05 so per coin... $560.81 and lets add electricity to that = 888.32 per coin.
Wow. $888.32 per coin! I haven't included real estate, maintenance, cooling and internet connections/power supplies. Obviously there would be some economies of scale for the manufacturer of the mining devices so they wouldn't be paying retail cost for the miners but that's a ballpark figure.
$888.32 It makes the current price of Bitcoin
836.12 seem like a bargain!