thx, all. that's what i thought

the person who made the claim is francois velde, who happens to be a senior economist at the federal reserve bank of chicago

here, for your amusement, is my blog post about his howler

http://briansalmi.com/2013/11/11/chicago-fed-shoots-itself-in-the-head-over-bitcoin/

i am under the impression that electricity costs for mining btc are prohibitive

but i've just come across someone, someone who claims to know abit such thigs, and he says electricity costs should be as low a $1 or as high as $2.50 to mine a single bitcoin

i understand that costs will vary depending on where you are and how much retail electricity costs but is that estimate anywhere near reality?

please and thank you!