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1  Other / Beginners & Help / Re: Bitcoin production cost on: April 23, 2020, 02:04:33 PM
Yes , you are right .
I forgot to add fees . If we can calculate an average total fee per hours for the whole network we can add this (estimated) value too .
About the server room's price , labour costs and other , I didn't add them on purpose . Because I want to calculate the base price so we dont need them .
And yes , again you are right about the type of Asic devices which uses more and even about the electricity price in China.
I think we need more information to calibrate this calculation .

2  Other / Beginners & Help / Re: Bitcoin production cost on: April 23, 2020, 09:46:50 AM
Very well .
I searched the net and found this link :
https://www.globalpetrolprices.com/electricity_prices/
So we can continue the calculation from this point
The total daily power consumption due to your calculation is about 270 Gw per day  Or about 11.22Gw per hour .
Total bitcoin production for each hour can calculate :  6 * 12.5 = 75 BTC (Before halving) .
The average electricity cost between the most important countries can calculate like this :
(Related to their contribution in minning)
This link : https://www.buybitcoinworldwide.com/mining/pools/

 contribution among minning pools :
China - 81%  
Czech Republic - 10%
Iceland - 2%
Japan - 2%
Georgia - 2%
Russia - 1%
Electricity prices for business :(USD / KWh)
China = 0.09
Czech Republic = 0.08
Iceland = 0.06
Japan = 0.21
Georgia = 0.05
Russia = 0.08

Average price (calculated base on above) : 0.0899  USD/KWh
Total power consumption prices (per hour) :
11.22 * 10**9 * 0.0899 / 1000 = 1,008,678 USD for total 75 bitcoin (in an hour)
Finally the estimate product cost can be :
1,008,678 / 75 = 13,449 USD per Bitcoin !!

So the production cost for each Bitcoin is 13,449 USD .
Is this possible ?
May be I made a mistake .
Any Idea ?


3  Other / Beginners & Help / Re: Bitcoin production cost on: April 23, 2020, 06:21:17 AM
Thank you for your complete description .
Indeed I want to find a formula for estimating the production cost values and not the exact prices .
Because as you said very well , That's impossible ! So many factors for exact calculation is needed and no one can do it .
I just need to know the approximate base price of Bitcoin production cost .
In the paragraph you showed me the path .
I think I must use the total network difficulty , BTC hashrate , average power cost and a few other factors to design a general formula for this calculation . That is what I was searching for .
4  Other / Beginners & Help / Re: Bitcoin production cost on: April 20, 2020, 08:50:40 AM
The link I mentioned is just an example for make my word clear ,
I searched and read a few other links like that which found in internet .
I do not want to calculate the profit value of Asic devices , just want to calculate a base price for each bitcoin mined , and so to find out the minimum price level which minners can handle it .
5  Other / Beginners & Help / Re: Bitcoin production cost on: April 19, 2020, 08:41:24 PM
I didn't search for profitability of a mining hardware , I just want to know the real cost of bitcoin production .
However its the mining process that generates new bitcoin as block rewards but thats not what I am searching for .
Please look at this link :
https://coinsavage.com/content/2019/12/bitcoins-production-cost/
Maybe it shows my idea better .
For ex. It uses a parameter called PUE in calculation of BTC production cost .
6  Other / Beginners & Help / Bitcoin production cost on: April 19, 2020, 08:23:23 PM
Hi my friends ,
I want to calculate Bitcoin production cost . I searched the net and found a few articles about the production cost , but none of them was a clear solution for this , If anybody knows how to calculate the real production cost for bitcoin or has any idea about that , please help me .
I know the general answer and even the correlation between bitcoin prices and power consumption or other related factors . But that's not enough , I need more specific formula and calculation .
Any idea will be very appreciated .
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