bitserve
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How much must one bitcoin cost after halving to cover mining costs? Let's say in USA.
All factors being equal... one could say double than now (ie: $6Kx2=$12K). But factors are not and won't be equal. Hashrate, electricity cost, efficiency of new miners, cost of those new miners, overhead business costs, etc etc.... and more importantly which part of supply/FREE FLOAT is determined by mining sales. In the end it all reduces to supply and demand... and mining is just a part of that supply. Any PANIC/capitulation or FOMO/euforia phase can make mining costs completely somewhat irrelevant and disjointed from actual market price, at least in the short/medium term. In other words, hard to predict accurately and somewhat irrelevant for most purposes.
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"You Asked For Change, We Gave You Coins" -- casascius
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Biodom
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November 10, 2019, 01:54:05 AM |
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How much must one bitcoin cost after halving to cover mining costs? Let's say in USA.
if you use the most efficient miner (S17 pro) and you use an average cost of electricity in US at 10c/kwh, then with CURRENT difficulty, you would be breaking even (without amortizing the miner) at about 9.7K/btc. Obviously, difficulty is likely to be higher in 7 months.
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bitserve
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November 10, 2019, 02:02:09 AM |
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How much must one bitcoin cost after halving to cover mining costs? Let's say in USA.
if you use the most efficient miner (S17 pro) and you use an average cost of electricity in US at 10c/kwh, then with CURRENT difficulty, you would be breaking even (without amortizing the miner) at about 9.7K/btc. Obviously, difficulty is likely to be higher in 7 months. $9.7K already for the most efficient miner? Wow... that's higher than what I currently thought. Of course I don't think mining farms pay nowhere near to domestic 10c/kwh but, on the other hand, they DO NEED to also amortise the machines and overhead costs or go bankrupt in the long run.
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Biodom
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November 10, 2019, 02:11:40 AM |
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How much must one bitcoin cost after halving to cover mining costs? Let's say in USA.
if you use the most efficient miner (S17 pro) and you use an average cost of electricity in US at 10c/kwh, then with CURRENT difficulty, you would be breaking even (without amortizing the miner) at about 9.7K/btc. Obviously, difficulty is likely to be higher in 7 months. $9.7K already for the most efficient miner? Wow... that's higher than what I currently thought. Of course I don't think mining farms pay nowhere near to domestic 10c/kwh but, on the other hand, they DO NEED to also amortise the machines and overhead costs or go bankrupt in the long run. not already, the question was for "after halving". NOW half or $4.85K or so.
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Searing
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Clueless!
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November 10, 2019, 02:12:03 AM |
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Oh no! Not Bakkt again! This is going to trigger V8!
I must admit, I don't understand Bakkt. There are a lot of different things and stuff happening with Bitcoin lately, and kinda hard to keep on top of everything that's developing or being rolled out. Bummed out bailing on LND as "entirely unprofitable and a management nightmare", GRIN being a pile of shit (new 2080ti gaming rig on the positive side !) and nothing else being interesting to me in crypto space right now, in terms of Layer 2 Bitcorn stuff. Even Liquid is boring AF to me. So, I will just HODL until $15k. I'm with you. My 'simplistic', and I mean that as 'very simplistic' lately at looking at BTC/Crypto is Whales in mining (with 2017 and 2018 mostly Bitmain L3+'s and S9's) getting out of HODL'ing Bitcoin for the time being. The price always seems to do this at the beginning of the month (IMHO) and I think real-world issues of miners, not small, but not big enough at these prices, having to sell BTC/Crypto to pay for the lease/data hall/lifestyle (in that a lot of these guys have been self-employed last few years) etc. Indeed you could make a case a lot of miners, no matter the size, are either doubling down and buying more ASICs or cashing out as it comes in. Miners are not in a HODL group anymore at least IMHO not this year. Also just whales in general bleeding off some of the cream of their massive BTC/Crypto Hoard....every time we get around $9k or $10k ...(hey I said it was simplistic). Again, have to keep the trophy wife happy and stay at the lifestyle you have become accustomed too, when BTC price was high. (Sob! I miss those days ...soooooo much) So I have 2 simplistic trains of thought about this: 1) The economy tanks into a recession and the price or BTC tanks as well, because whales/folks/etc sell for 'real-world issues' in that they bought or got into BTC/Crypto because they had extra discretionary $$$ to spend because the economy was good. They would still like to accumulate BTC but hold off due to the turn in the economy (whenever) 2) The economy tanks into a recession and the price of BTC pumps, because whales now will HODL and folks/etc and institutions will pile into Bitcoin as a safe haven. This to use Bitcoin as a 'virtual gold' and store of value. As I said, this is a 'simplistic future' but I do think the economy will have to have a recession sometime with what is going on in the world and I guess a guy can flip a coin on which of the above is true. Come to think of it a lot of my BTC/Crypto theories are 'simplistic' so I should probably just stick to flipping a coin anyway. Again, like most things in BTC/Crypto make a choice. Brad
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Biodom
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November 10, 2019, 02:22:11 AM |
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My money is on Rick to humbly ask Bob to sell some and Bob acquiescing if and when we would crawl to 11-13K. That number (11K) seems to be a sell attractor. I also sold some around 11K in 2017 and perhaps 1.2K higher in 2019. For newbs to have bitcoins someone has to sell. It is just a theory...please don't throw any heavy objects my way
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marcus_of_augustus
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Eadem mutata resurgo
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November 10, 2019, 02:28:51 AM |
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BAKKT is a necessity for big money center banks e.g. goldman, morgan stanley, jpmorgan, ubs, barclays, etc to have an opportunity to gain access to BTC legitimately if they should choose to do so ... why would these banks want access to legitimate BTC? well these are the banks that have customers like major global corporations and central banks who they act as proxies in the market for (i.e. the global elites' puppets) .... imagine if BTC rapidly became a global currency and central banks did not even have a legal way to access the market? Governments are hand-tied in how they operate in the markets with the public coffers, or else they go to prison and for good reasons, however they do not like being shut out of the latest greatest game in town.
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marcus_of_augustus
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Eadem mutata resurgo
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November 10, 2019, 02:34:44 AM |
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How much must one bitcoin cost after halving to cover mining costs? Let's say in USA.
double, (by definition on cost basis)
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lightfoot
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I fix broken miners. And make holes in teeth :-)
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November 10, 2019, 04:15:07 AM |
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I had this exact thought yesterday...why the fuck would they sell the keys to the treasury...unless...
What, you think those religious sand owners won't just re-nationalize the company and stiff anyone stupid enough to pay money for their worthless "stock"? Again?
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jojo69
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diamond-handed zealot
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November 10, 2019, 04:32:53 AM |
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well, that too
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Hueristic
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Doomed to see the future and unable to prevent it
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November 10, 2019, 04:39:14 AM Last edit: November 10, 2019, 05:10:14 AM by Hueristic Merited by El duderino_ (2) |
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[img width =100]https://i.imgflip.com/3ftk6v.jpg[/img][/url] via Imgflip Meme GeneratorBtw took this at home in my front yard Is this what bitcoinpshyco is taken?? second url snipped It’s a big F***er Amanita muscariaThat's what berserkers took before the battle according to some. WO pals from central/northern Europe have got to have some berserker "blood" (aka gene variables) in them. PS some people think that it was rather Hyoscyamus niger that was responsible for berserker's rage. PPS in completely unrelated direction, I found "Berserker" sci-fi novel series by Fred Sabarhagen to be quite amusing. Something similar/parallel in content to the "Mass effect" games. I read Berserker series when I was a kid and still have some laying around. I Loved the short stories as well. Fred Sabarhagen is a great author, I highly recommend anything hes written. BE SAFE AND FOLLOW ME TO BECOME PROFITABLE AND STAY AHEAD OF THE CURVE.
Shut up, faggot. Bitcointalk's Friendly Gay Negro from Outer Space
LOL Good morning Bitcoinland. Welcome from sunny Playa del Carmen.
Did it again. Landed here Thursday and the price immediately fell by $500... currently. $8777usd/$11611cad (Bitcoinaverage).
Sorry folks. I really have no control over this shit.
I'll be flying back up around December 1. Hopefully it'll go back up by then.
Yah know, a days warning heads up wouldn't hurt none! US Dollar Dominates 65.49% Market Share In Fiat-To-BTC Trading. As of 13:14 (UTC) on Nov 9, Coinhills statistics show that the US Dollar is the most traded national currency for Bitcoin, dominating 65.49% of the global fiat-to-BTC market, followed by the Korean Won (17.73%), the Japanese Yen (13.97%), the Euro (1.48%), and the British Pound (0.55%). Source: https://www.coinness.com/news/454748The so-called "dollar hegemony" is present, the good thing is that Bitcoin will always dominate. The Us dollar is not surprising in the least as thats about where it has historically been usued in finacial markets but what surprises me is the Low Euro and high Won. Whatever... LOl, not too soon. At this stage.... I’m not able to find the bottom of a next glass anymore
Hope I get home safe .... cheers and good HODLnight !!!
Ahh, the days when I drove home on auto pilot. I did that for decades and never got in an accident...truly amazing. Drove myself to the hospital once and after doing some testing they asked who drove me there because my blood alcohol lever was .35, the doctor didn't believe me that i did, at least he didn't turn my ass in.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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November 10, 2019, 06:20:21 AM |
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Watched this a second time, I'm hooked. On point narrative between bitcoin, banking, debt, currency and government risk management. Why only 3K views?? Serious bull juice, scary AF to consider. Simon Dixon: How Bitcoin Could Become A World Reserve Currency By 2020 https://www.youtube.com/watch?v=4oofk-i4uRMNice. I watched it (30 minutes), and I agree that Simon Dixon is both a bitcoin bullish kind of guy, and he is also quite knowledgeable about how money works.
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nikauforest
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November 10, 2019, 06:28:16 AM |
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Oh no! Not Bakkt again! This is going to trigger V8!
I must admit, I don't understand Bakkt. There are a lot of different things and stuff happening with Bitcoin lately, and kinda hard to keep on top of everything that's developing or being rolled out. Bummed out bailing on LND as "entirely unprofitable and a management nightmare", GRIN being a pile of shit (new 2080ti gaming rig on the positive side !) and nothing else being interesting to me in crypto space right now, in terms of Layer 2 Bitcorn stuff. Even Liquid is boring AF to me. So, I will just HODL until $15k. Yeah, I came to the same conclusion. Lightning is very cool, but a time sink and not very profitable. I have been getting back into VR to pass some time and do development.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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November 10, 2019, 06:34:35 AM |
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But you will have to make alot of assumptions and no-one except maybe the market makers can answer that question as there really is no proof whether the tail wags the dog or not. In actual nature, I have never seen or heard about an actual tail wagging a dog; however, in theory, I have heard a lot of theories that would require tails to wag dogs, because some people either believe that the world works like that or they have not sufficiently thought through their own speculation requirements. Go figure?
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HairyMaclairy
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Degenerate bull hatter & Bitcoin monotheist
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November 10, 2019, 07:27:15 AM |
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Y'know, the world economy would have to be have to be REALLY tanking for an Saudi Arabian oil company to issue an IPO... ...oh wait. I had this exact thought yesterday...why the fuck would they sell the keys to the treasury...unless... Welp looks like it’s not the world economy tanking - just OPEC. https://www.cnbc.com/2019/11/05/opec-report-global-oil-demand-growth-forecast-cut-over-the-medium-and-long-term.htmlThe Saudis can see the writing on the wall with the wave of renewables and electric cars coming. We will still need oil for aviation fuel and some manufacturing, but demand overall will be way down. So much for peak oil.
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becoin
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November 10, 2019, 07:47:16 AM |
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BAKKT is a necessity for big money center banks e.g. goldman, morgan stanley, jpmorgan, ubs, barclays, etc to have an opportunity to gain access to BTC legitimately if they should choose to do so ... why would these banks want access to legitimate BTC?
BAKKT is a necessity for the criminal syndicate of big money to control the price of bitcoin through naked short sales. They think they can use rehypothecated bitcoin collateral like they do with physical gold. They can't!
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BitcoinGirl.Club
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Farewell LEO: o_e_l_e_o
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November 10, 2019, 10:39:31 AM |
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I did not know that this exists too LOL By the way, Good morning WO! Observing @ $8,839
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El duderino_
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BTC + Crossfit, living life.
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November 10, 2019, 11:36:26 AM |
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Damn r0ach, I don’t mind you laughing with me or have some jokes or whatever, I sometimes have fun reading them and showing them to people I know
But you can’t write those things about those camps man, some people really have feeling reading this thread and can’t always be confronted with insane pronunciations....
Some things one can just not say
Not always be the conspiracy nut that you are.....
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