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Author Topic: Bitcoin self-cost  (Read 153 times)
coalguru
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September 15, 2017, 08:03:17 AM
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Taking into account current prices of mining equipment, electricity and labour - what is self-cost of 1 BTC for big miners? I think it is important to know, to understand the resulting market price level after the shake.
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draakon123
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September 15, 2017, 08:10:30 AM
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Chinese miners are still making profit. But soon they will be gone and BTC price has to rise to justify mining anywhere else in the world.
Rinaze
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September 15, 2017, 08:18:28 AM
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Chinese miners are still making profit. But soon they will be gone and BTC price has to rise to justify mining anywhere else in the world.
I assume the difficulty for mining BTC would drop or adjust itself eventually when that happens.

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September 15, 2017, 08:24:55 AM
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Taking into account current prices of mining equipment, electricity and labour - what is self-cost of 1 BTC for big miners? I think it is important to know, to understand the resulting market price level after the shake.

It's awfully hard to guess.
Because your have to put in equipment cost and the difficulty adjustments.
Nobody knows for real how cheap and at what discount do big miners get their rigs and nobody can predict the difficulty adjustment.

And even worse are those cases:
You bought your miner in 2016, you already have ROI on it basically your costs are just electricity.
You bought your miner (same stuff) , you have to earn back the money spent and you have to count electricity.

For ones the price of 1 BTC is a in range of hundred dollars for the others a few thousands.

coalguru
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September 15, 2017, 08:28:10 AM
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If chinese miners will go out of market, then there will be a lot of used rigs for purchase at cheap prices (because they already got their ROI).
draakon123
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September 15, 2017, 08:48:07 AM
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Chinese miners are still making profit. But soon they will be gone and BTC price has to rise to justify mining anywhere else in the world.
I assume the difficulty for mining BTC would drop or adjust itself eventually when that happens.

Rather the price will rice as demand for bitcoin will remain or go up. Chinese people/investors will find a way to put their money back to crypto currency. Of course this would only make bitcoin as an investment tool, but we want to see it in use and replace currency for everyday shopping. Since shopify is growing rapidly, it is certain fact that all small businesses will operate online which makes btc large scale adoption a reality. This is not assumption anymore.
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