if electric was $0.10/kw hour
and a desktop was 300watt/hour
1kwh=3hours 20 minutes(20 blocks*) which is
10cent for 20 blocks which is 1000btc
1cent 100btc
$0.001 10btc
$0.0001 1btc
*block per 10min avg is 20 blocks in 3 hours 20mins
and a desktop was 300watt/hour
1kwh=3hours 20 minutes(20 blocks*) which is
10cent for 20 blocks which is 1000btc
1cent 100btc
$0.001 10btc
$0.0001 1btc
*block per 10min avg is 20 blocks in 3 hours 20mins
That doesn't make sense. If the production cost of 1 bitcoin was only $0.0001 in 2009 and there were 2,625,000 coins mined in 12 months, then the electricity cost was just as little as $262.50 for an entire year?