What is the cost of producing 1BTC?

[nandubatchu]

Can anyone give an approximate calculation of the expenditure on prodding one bitcoin at the current scenario?

Posted From bitcointalk.org Android App

[1713592098]

1713592098

[FanOfBtc]

Hi
The following are calculations taken $$ as reference
Bitmain_AntMiner_S7_4860_GH/s                        
Exchange Rate 1BTC = $329.28                        
Difficulty increment 2.96%                        
Miner Cost $2,290                        
Hashrate 4,860 Gigahash per second                        
Electricity cost per day $2.78                        
Estimate start mining date Nov-14-2015                        
                        
During   Bitcoin per day   Revenue per day   Income per day   difficulty   total day   total BTC   total Income   amount to break even
Nov-14-15 - Nov-23-15   0.0371 BTC   $12.22    $9.44    65,848,255,180   10 days   0.37BTC   $94.38    ($2,195.62)
Nov-24-15 - Dec-07-15   0.0361 BTC   $11.87    $9.09    67,797,363,533   24 days   0.88BTC   $221.60    ($2,068.40)
Dec-08-15 - Dec-21-15   0.035 BTC   $11.53    $8.75    69,804,165,494   38 days   1.37BTC   $344.04    ($1,945.96)
Dec-22-15 - Jan-04-16           0.034 BTC   $11.20    $8.41    71,870,368,793   52 days   1.84BTC   $461.84    ($1,828.16)
Jan-05-16 - Jan-18-16           0.033 BTC   $10.88    $8.09    73,997,731,709   66 days   2.3BTC   $575.13    ($1,714.87)
Jan-19-16 - Feb-01-16           0.0321 BTC   $10.56    $7.78    76,188,064,567   80 days   2.75BTC   $684.04    ($1,605.96)
Feb-02-16 - Feb-15-16           0.0312 BTC   $10.26    $7.48    78,443,231,279   94 days   3.19BTC   $788.70    ($1,501.30)
Feb-16-16 - Feb-29-16           0.0303 BTC   $9.96    $7.18    80,765,150,924   108 days   3.61BTC   $889.23    ($1,400.77)
Mar-01-16 - Mar-14-16           0.0294 BTC   $9.68    $6.89    83,155,799,392   122 days   4.03BTC   $985.75    ($1,304.25)
Mar-15-16 - Mar-28-16           0.0285 BTC   $9.40    $6.62    85,617,211,054   136 days   4.42BTC   $1,078.38    ($1,211.62)
Mar-29-16 - Apr-11-16           0.0277 BTC   $9.13    $6.35    88,151,480,501   150 days   4.81BTC   $1,167.22    ($1,122.78)
Apr-12-16 - Apr-25-16           0.0269 BTC   $8.87    $6.08    90,760,764,324   164 days   5.19BTC   $1,252.39    ($1,037.61)
Apr-26-16 - May-09-16           0.0262 BTC   $8.61    $5.83    93,447,282,948   178 days   5.56BTC   $1,333.99    ($956.01)
May-10-16 - May-23-16   0.0254 BTC   $8.36    $5.58    96,213,322,523   192 days   5.91BTC   $1,412.12    ($877.88)
May-24-16 - Jun-06-16   0.0247 BTC   $8.12    $5.34    99,061,236,870   206 days   6.26BTC   $1,486.89    ($803.11)
Jun-07-16 - Jun-20-16   0.024 BTC   $7.89    $5.11    101,993,449,481   220 days   6.59BTC   $1,558.38    ($731.62)
Jun-21-16 - Jul-04-16   0.0233 BTC   $7.66    $4.88    105,012,455,586   234 days   6.92BTC   $1,626.70    ($663.30)
Jul-05-16 - Jul-18-16   0.0226 BTC   $7.44    $4.66    108,120,824,271   248 days   7.24BTC   $1,691.94    ($598.06)
Jul-19-16 - Aug-01-16   0.022 BTC   $7.23    $4.45    111,321,200,669   262 days   7.54BTC   $1,754.18    ($535.82)
Aug-02-16 - Aug-15-16   0.0213 BTC   $7.02    $4.24    114,616,308,209   276 days   7.84BTC   $1,813.51    ($476.49)
Aug-16-16 - Aug-29-16   0.0207 BTC   $6.82    $4.04    118,008,950,932   290 days   8.13BTC   $1,870.01    ($419.99)
Aug-30-16 - Sep-12-16   0.0201 BTC   $6.62    $3.84    121,502,015,880   304 days   8.41BTC   $1,923.77    ($366.23)
Sep-13-16 - Sep-26-16   0.0195 BTC   $6.43    $3.65    125,098,475,550   318 days   8.69BTC   $1,974.86    ($315.14)
Sep-27-16 - Oct-10-16   0.019 BTC   $6.25    $3.46    128,801,390,426   332 days   8.95BTC   $2,023.36    ($266.64)
Oct-11-16 - Oct-24-16   0.0184 BTC   $6.07    $3.28    132,613,911,583   346 days   9.21BTC   $2,069.35    ($220.65)
Oct-25-16 - Nov-07-16   0.0179 BTC   $5.89    $3.11    136,539,283,366   360 days   9.46BTC   $2,112.90    ($177.10)
Nov-08-16 - Nov-21-16   0.0174 BTC   $5.72    $2.94    140,580,846,153   374 days   9.7BTC   $2,154.07    ($135.93)
Nov-22-16 - Nov-23-16   0.0169 BTC   $5.56    $2.78    144,742,039,199   376 days   9.74BTC   $2,159.62    ($130.38)

[joyjeet]

Hi There

Saw your calculation, since the lines are jumbled up so am a bit confused with your calculation of profit, it would be nice if you can show the figures in an excel sheet and how you are calculating the profit.

Also I would be interested to invest in bitcoin mining - so wanted to know whether your setup is in India ? You want to share your set up or can you guide me to set up a miner of my own ...

Will look forward to hear from you and get some help with bitcoin mining ...

fr33bitcoin   at   gmail   dot   com

[chronicsky]

Needed it for myself , so here it is...

Code:

 DURING	                 Bitcoin per day	 Revenue per day    Income per day       Difficulty	         Total Days	   Total [btc]         Total Income  	Amount to Break-even
Nov-14-15 - Nov-23-15	 0.0371 [btc]	   $12.22 	                  $9.44 	        65,848,255,180	  010 days	    0.37	          $94.38 	        ($2,195.62)
Nov-24-15 - Dec-07-15	 0.0361 [btc]	   $11.87 	                  $9.09 	        67,797,363,533	  024 days	    0.88	          $221.60 	        ($2,068.40)
Dec-08-15 - Dec-21-15	 0.0350 [btc]	   $11.53 	                  $8.75 	        69,804,165,494	  038 days	    1.37	          $344.04 	        ($1,945.96)
Dec-22-15 - Jan-04-16	 0.0340 [btc]	   $11.20 	                  $8.41 	        71,870,368,793	  052 days	    1.84	          $461.84 	        ($1,828.16)
Jan-05-16 - Jan-18-16	 0.0330 [btc]	   $10.88 	                  $8.09 	        73,997,731,709	  066 days	    2.30	          $575.13 	        ($1,714.87)
Jan-19-16 - Feb-01-16	 0.0321 [btc]	   $10.56 	                  $7.78 	        76,188,064,567	  080 days	    2.75	          $684.04 	        ($1,605.96)
Feb-02-16 - Feb-15-16	 0.0312 [btc]	   $10.26 	                  $7.48 	        78,443,231,279	  094 days	    3.19	          $788.70 	        ($1,501.30)
Feb-16-16 - Feb-29-16	 0.0303 [btc]	   $9.96 	                  $7.18 	        80,765,150,924	  108 days	    3.61	          $889.23 	        ($1,400.77)
Mar-01-16 - Mar-14-16	 0.0294 [btc]	   $9.68 	                  $6.89 	        83,155,799,392	  122 days	    4.03	          $985.75 	        ($1,304.25)
Mar-15-16 - Mar-28-16	 0.0285 [btc]	   $9.40 	                  $6.62 	        85,617,211,054	  136 days	    4.42	          $1,078.38 	 ($1,211.62)
Mar-29-16 - Apr-11-16	 0.0277 [btc]	   $9.13 	                  $6.35 	        88,151,480,501	  150 days	    4.81	          $1,167.22 	 ($1,122.78)
Apr-12-16 - Apr-25-16	 0.0269 [btc]	   $8.87 	                  $6.08 	        90,760,764,324	  164 days	    5.19	          $1,252.39 	 ($1,037.61)
Apr-26-16 - May-09-16	 0.0262 [btc]	   $8.61 	                  $5.83 	        93,447,282,948	  178 days	    5.56	          $1,333.99 	 ($956.01)
May-10-16 - May-23-16	 0.0254 [btc]	   $8.36 	                  $5.58 	        96,213,322,523	  192 days	    5.91	          $1,412.12 	 ($877.88)
May-24-16 - Jun-06-16	 0.0247 [btc]	   $8.12 	                  $5.34 	        99,061,236,870	  206 days	    6.26	          $1,486.89 	 ($803.11)
Jun-07-16 - Jun-20-16	 0.0240 [btc]	   $7.89 	                  $5.11 	        101,993,449,481	  220 days	    6.59	          $1,558.38 	 ($731.62)
Jun-21-16 - Jul-04-16	 0.0233 [btc]	   $7.66 	                  $4.88 	        105,012,455,586	  234 days	    6.92	          $1,626.70 	 ($663.30)
Jul-05-16 - Jul-18-16	 0.0226 [btc]	   $7.44 	                  $4.66 	        108,120,824,271	  248 days	    7.24	          $1,691.94 	 ($598.06)
Jul-19-16 - Aug-01-16	 0.0220 [btc]	   $7.23 	                  $4.45 	        111,321,200,669	  262 days	    7.54	          $1,754.18 	 ($535.82)
Aug-02-16 - Aug-15-16	 0.0213 [btc]	   $7.02 	                  $4.24 	        114,616,308,209	  276 days	    7.84	          $1,813.51 	 ($476.49)
Aug-16-16 - Aug-29-16	 0.0207 [btc]	   $6.82 	                  $4.04 	        118,008,950,932	  290 days	    8.13	          $1,870.01 	 ($419.99)
Aug-30-16 - Sep-12-16	 0.0201 [btc]	   $6.62 	                  $3.84 	        121,502,015,880	  304 days	    8.41	          $1,923.77 	 ($366.23)
Sep-13-16 - Sep-26-16	 0.0195 [btc]	   $6.43 	                  $3.65 	        125,098,475,550	  318 days	    8.69	          $1,974.86 	 ($315.14)
Sep-27-16 - Oct-10-16	 0.0190 [btc]	   $6.25 	                  $3.46 	        128,801,390,426	  332 days	    8.95	          $2,023.36 	 ($266.64)
Oct-11-16 - Oct-24-16	 0.0184 [btc]	   $6.07 	                  $3.28 	        132,613,911,583	  346 days	    9.21	          $2,069.35 	 ($220.65)
Oct-25-16 - Nov-07-16	 0.0179 [btc]	   $5.89 	                  $3.11 	        136,539,283,366	  360 days	    9.46	          $2,112.90 	 ($177.10)
Nov-08-16 - Nov-21-16	 0.0174 [btc]	   $5.72 	                  $2.94 	        140,580,846,153	  374 days	    9.70	          $2,154.07 	 ($135.93)
Nov-22-16 - Nov-23-16	 0.0169 [btc]	   $5.56 	                  $2.78 	        144,742,039,199	  376 days	    9.74	          $2,159.62 	 ($130.38)

[nichu]

@chronicsky,thats a neat chart mate.bottom line is you dont profit much unless you spend more money for the ASIC machines 

[btvGainer]

@chronicsky,thats a neat chart mate.bottom line is you dont profit much unless you spend more money for the ASIC machines 

How many ASIC machines do we exactly know to mine bitcoins profitably in India? I think electicity is cheapest in our country compared to many European countries so the cost of mining should be less here

[Goms]

@chronicsky,thats a neat chart mate.bottom line is you dont profit much unless you spend more money for the ASIC machines 

How many ASIC machines do we exactly know to mine bitcoins profitably in India? I think electicity is cheapest in our country compared to many European countries so the cost of mining should be less here

That means countries with low electricity costs will profit most from bitcoin mining, right? I am trying to learn what it is all about.

[nichu]

@chronicsky,thats a neat chart mate.bottom line is you dont profit much unless you spend more money for the ASIC machines 

How many ASIC machines do we exactly know to mine bitcoins profitably in India? I think electicity is cheapest in our country compared to many European countries so the cost of mining should be less here

That means countries with low electricity costs will profit most from bitcoin mining, right? I am trying to learn what it is all about.

ok here is the slip calculations for you

today price for one Bitmain machine is rupees 40118 INR , roughly you could make around 350 to 400 INR worth of BTC ,so in practice you will need 3 to 4 months to start profiting from the machine you purchased, and the difficulty will increase when a high power machine is released. it will be profitable if you could spend some money for sure , if not your return of interest is not that great.

[bitcoinisfurture]

Is anybody here mining the BTC?

[bitcoinusd]

Is anybody here mining the BTC?

I would also like to know if any body is doing it successfully from india.

[Digitalbitcoin]

I think in current situation mining of bitcoin is quite hard even not profitable as per considering ROI.

After halving already price of block reward is decreased by 50% so current reward for block is 12.5 BTC And other factors also impact on mining as Difficulty level, block height, increase in difficulty etc.

Better way go for any other algo for mining other altcoins. this can give good revenue after exchanging altcoins against bitcoin.