0.2cents!! seriously.. i was thinking more along the lines of 20 cents

im sorry, i should have said.. im from the UK


but feel free to adjust your numbers to your country.. after all i did say "lets say" which is a term of a guess/estimate rather than a rule.
enjoy your day knitpicker!

but i did edit out the cost of a BTC, as it seems this topic just wants to concentrate on transaction cost

ok lets use some maths

EDIT(after writing the below maths): seems the mining community have had a discount on mining costs compared to last time i calculated it in the summer.. so read on and enjoy

numbers we know..
hashrate: 250petahash(avg for month)https://blockchain.info/charts/hash-rate
1terrahash miner: 1kwatt PSU
transactions: 486 a block(avg of month)https://blockchain.info/charts/n-transactions-per-block

so lets do this:
486tx x 6 =2919tx per hour
250,000kwatt per hour
250,000/2919=85kwatt/hour

lets say it is 20c per kwh
=$17
which does roughly correspond to: https://blockchain.info/charts/cost-per-transaction?timespan=180day ($18-$20 recently once you add on the physical cost of a rig)

now lets average cost per bitcoin
(17 x 486)/25reward= $332 per btc(my maths)
(20x 486)/25reward=$388 bc.info's high estimate for today
seems cheap to mine right now...as you can see by the link above the cost estimates were alot higher during summer

but atleast it proves one thing that i have been harping on about for the last year. that no one wants to sell below cost of mining and that this price point should be used as a resistance point.

now how to do the maths real easily.. in the future so you have our own indicaters
take the cost/tx https://blockchain.info/charts/cost-per-transaction?timespan=30days for today (far right point of graph is ALWAYS the most recent day)
take the transactions per block https://blockchain.info/charts/n-transactions-per-block?timespan=30days for today (far right point of graph is ALWAYS the most recent day)
multiply them together. then devide that by the 25btc reward per block

again today 20cost x 486tx=$9720
$9720/25=$388/btc

now you know the resistance point miners wont want to sell below as its costing them money. ill leave it to you lot to find ways of getting raw data of the numbers in API format so that you can make your 'instant' calculators of btc cost price (resistance point)

NO

look at the exchanges. its not thousands of coins being sold/bought on exchanges. its less that 12k volume moving per day. and out of the 12k movemnt per day only 1% is from actual bank account movements. ther other 99% is daytraders and bots playing with $7 amounts of coin without depositing /withdrawing. and maybe 1 big fish(not a whale) with just 200 coins, creating walls to keep prices at a certain level.

we need to wake up and not be sheeple.. exchanges are on a 99% lockdown keeping prices low because whales are not using exchanges to buy coins. proper trading is done privately at prices of $500+.

kind of funny because i was talking about it last week and now people are suddenly waking up. just a shame you are all relying on these crappy locked down php coded exchanges as your price estimate. you are missing out on where the true value is

Update on LibrexSend V1 and other things.

Some investors and holders of Librexcoin have asked about Librexsend V1.  We're working on it non-stop and we already have the code close to release. It is in testnet being extensively tested and debugged. This testing has revealed some small bugs and other small code errors. We are now bug smashing and cleaning up code for review by Dam M. Our ultimate goal is to deliver a rock solid code and eliminate any other issues that may arise. If released too soon or without proper testing and not passing Dans scrutiny would have dire consequences for both LibrexSend but also the long term value of LibrexCoin. As it gets closer to being ready for Dan's review I will post it and also some details and other teasers for it.

 LibrexSend is a big project. We expect that LibrexSend will become a benchmark standard anonymity in coins. We're close to releasing LibrexSend V1.

We will releasing an new wallet that will have interesting features

We make our debut on Mintpal's exchange when they release V2.

We will also be releasing a QT wallet update that has a few new and interesting features built into it. This should come in the next few days.  

I've been here in this tread since the first day trying to do my best to assuage concerns and answer any questions, providing information, and such while attending to my non coin life.  You can trust me when I say that LibrexCoin will continue to be successful in part because we have great things coming up and in part due to our great community. I ask you for and thank you for your patience and continued support.

again your waiting for confirms. if the amount was small.. why wait.. if the amount was $50+ then yea wait 1 confirm. if it was $1000 then wait a couple confirms.

put simply if you handed over in a retail store
$10, the cashier wouldnt look twice at it
$50 the cashier would atleast check for water marks
$1000 the cashier would ask a colleague to help double count the amount and then get the manager to put the bank notes into a safe. thus customers wait around for a while.

same with bitcoin.

but as i said there are wallets around that allow "instant" spend. again think about it like your main hoard is in a safety deposit box for long term storage. and then you have a small wallet in your pocket for instant daily spend amounts.

for things that can be purchased for $10 bank note (0.025btc) merchants dont bother with confirms. as soon as they see the tx they hand over goods.

but if a person handed over a $50-$100 bank note. i guarantee you the shop owner will stop and look at the bank notes and check for security seals and UV light the note before handing goods over.... same for bitcoin. its a risk vs efficiency game.

for small pocketmoney amounts there WILL be insured wallets (circle for instance) whereby people will only trust the service to hold daily spend amounts where the funds are pre confirmed to allow for instant spends. whilst still hoarding large funds privately for the bigger stuff.

so the mind set to have:
use your current bitcoin wallet for 'savings' (like  bank account) where transfering funds may take an hour as oppose to banks 3-5 days. and then use circle or other 'offchain' wallets for instant/daily spend/pocket money amounts. just like debit/credit cards.

Yes, it's still open