ssmc2
Legendary
 Offline
Activity: 2002
Merit: 1040
|
 |
January 31, 2015, 10:48:34 PM |
|
“There are years that ask questions and years that answer.” — Zora Neale Hurston
|
|
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
|
|
January 31, 2015, 10:53:51 PM |
|
The current average cost of production of bitcoins is in excess of $300. Purchasing a good below cost of production is considered cheap. Make the most, it wont last.
How did you get this figure of cost of production?  |
|
|
|
|
smracer
Donator
Legendary
Offline
Activity: 1065
Merit: 1040
|
|
January 31, 2015, 10:54:25 PM |
|
The current average cost of production of bitcoins is in excess of $300. Purchasing a good below cost of production is considered cheap. Make the most, it wont last.
The actual cost is around 90$, for some miners even less. There are huge upfront costs to be able to mine a BTC for $90. Maybe if you are mining in mommy's basement with cheap electricity, but even then you are limited by your electric service. |
|
|
|
|
|
thresher
|
|
January 31, 2015, 10:57:08 PM |
|
The current average cost of production of bitcoins is in excess of $300. Purchasing a good below cost of production is considered cheap. Make the most, it wont last.
The actual cost is around 90$, for some miners even less. There are huge upfront costs to be able to mine a BTC for $90. Maybe if you are mining in mommy's basement with cheap electricity, but even then you are limited by your electric service. What are the upfront costs? Paying losers to promote their scam mining companies in sigs on btc talk? |
|
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
|
|
January 31, 2015, 10:57:20 PM |
|
The current average cost of production of bitcoins is in excess of $300. Purchasing a good below cost of production is considered cheap. Make the most, it wont last.
The actual cost is around 90$, for some miners even less. cost ... reading comprehension problems? |
|
|
|
|
|
Eamorr
|
|
January 31, 2015, 10:57:51 PM |
|
The current average cost of production of bitcoins is in excess of $300. Purchasing a good below cost of production is considered cheap. Make the most, it wont last.
How did you get this figure of cost of production? Easily resolved by lowering the difficulty. Next. |
|
|
|
|
coins101
Legendary
Offline
Activity: 1456
Merit: 1001
|
|
January 31, 2015, 10:58:58 PM |
|
The current average cost of production of bitcoins is in excess of $300. Purchasing a good below cost of production is considered cheap. Make the most, it wont last.
The actual cost is around 90$, for some miners even less. There are huge upfront costs to be able to mine a BTC for $90. Maybe if you are mining in mommy's basement with cheap electricity, but even then you are limited by your electric service. quite a few people just plug directly into the street power supply or hot wire and bridge over their meter. |
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
 |
January 31, 2015, 10:59:55 PM |
|
|
|
|
|
|
mmitech
Legendary
Offline
Activity: 1148
Merit: 1001
things you own end up owning you
|
|
January 31, 2015, 11:00:26 PM |
|
Look at the bears go 1-2% decline in price and they start gigglin like a schoolgirl It's cute  True. Haha. -28.78% in last 30 days , still funny? +10000% in 4 years. Yep, hilarious yes, but did you buy 4 years ago @ $2 ? |
|
|
|
|
|
Eamorr
|
|
January 31, 2015, 11:01:37 PM |
|
The current average cost of production of bitcoins is in excess of $300. Purchasing a good below cost of production is considered cheap. Make the most, it wont last.
The actual cost is around 90$, for some miners even less. There are huge upfront costs to be able to mine a BTC for $90. Maybe if you are mining in mommy's basement with cheap electricity, but even then you are limited by your electric service. quite a few people just plug directly into the street power supply or hot wire and bridge over their meter. Even then the numbers don't add up. If you spend $1000 on hardware, you'd need about 3 or 4 years of 24/7/365 electricity to break even. |
|
|
|
|
oda.krell
Legendary
Offline
Activity: 1470
Merit: 1007
|
|
January 31, 2015, 11:03:45 PM |
|
It is not compatible. I don't give a shit about that article, or the concept of velocity of money. I have written about that numerous times. Although it can be computed, giving a number, the parameter says exactly nothing of the value of money. I don't get. At least at its core, this isn't some economical conjecture, this is just what you can or cannot do given a set of constraints on your medium of exchange. If we agree on a medium that consists of a total of 10 tokens, we know that we'll buy and sell goods worth $100 each day, each transfer causes the tokens used in that transfer to be out of circulation for one day, then there is no way around an associated valuation per token of at least $10, or one of the other constraints has to give in (more tokens, less value transferred, less time before token is back in circulation). At least to my understanding, velocity of money is essentially a formalization of the intuition behind the trivial example I just gave. But feel free to correct my lack of understanding on this matter. It's possible that I'm missing something very fundamental here. |
|
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
|
|
January 31, 2015, 11:06:14 PM |
|
Easily resolved by lowering the difficulty. Next. Did you look at the graph? Difficulty has never gone down significantly, at worst it plateaus ... so, you and who's army? Next. |
|
|
|
|
mmitech
Legendary
Offline
Activity: 1148
Merit: 1001
things you own end up owning you
|
|
January 31, 2015, 11:08:36 PM |
|
The current average cost of production of bitcoins is in excess of $300. Purchasing a good below cost of production is considered cheap. Make the most, it wont last.
This is just ignorant statement, price is defined by demand and supply and not by the cost of production, even when assuming that the cost of mining a bitcoin today is $300, what about the bitcoins that were mined last year and the year before that and so on ? the cost would be so small that today's price seems crazy profitble.... even if we consider this to hold, cost is defined by difficulty factor and mining expenses (mainly electricity) and hardware cost, assuming that the expenses and hardware cost are fixed the difficulty will drop down until the mining operations are profitable, therefore the cost is acceptable. for someone who have been a long time around some of your statements are so ignorant, maybe it is only the fear talking....maybe you will be of those stuck holding the bag. |
|
|
|
|
|
thresher
|
|
January 31, 2015, 11:10:01 PM |
|
We are getting close to finex wall, will it move, or not taking bets lol
|
|
|
|
|
|
ghandi
|
|
January 31, 2015, 11:12:57 PM |
|
I'm curious how finex will stand up against the other exchanges now...~3500k BTC @ 220 on Finex while the others don't really have any resistance....
|
|
|
|
|
|
chromosoma
|
|
January 31, 2015, 11:14:14 PM |
|
We are getting close to finex wall, will it move, or not taking bets lol
and it is gone:) |
|
|
|
|
DefendKebab
Sr. Member
Offline
Activity: 439
Merit: 250
Hassan Al-Kebab
|
|
January 31, 2015, 11:14:33 PM |
|
Finex sub 220 here we go
|
|
|
|
|
|
barbs
|
|
January 31, 2015, 11:16:02 PM |
|
Wow. I actually am mad i wired 80% of my funds out of bitstamp last week now, but maybe if this finds a real price I'll buy more
|
|
|
|
|
mmitech
Legendary
Offline
Activity: 1148
Merit: 1001
things you own end up owning you
|
|
January 31, 2015, 11:16:04 PM |
|
I' curious how finex will stand up against the other exchanges now...~3500k BTC @ 220 on Finex while the other don't really have any resistance....
Shorts are going up slightly, but longs are barely moving down, if the prcie continue this way, longs may get squeezed and a flash crash to sub $150 is very possible. Longs Shorts |
|
|
|
|
|
|
|
Poll
